Retail v Wisconsin

Faris Lee Investments closes $3 million sale of shopping center in Kenosha

Faris Lee Investments has completed the $3 million sale of Williams Corner, a 10,100-square-foot multi-tenant strip center located at 7410 118th Ave. in Kenosha, Wis.

Williams Corner

Faris Lee Investments has completed the $3 million sale of Williams Corner, a 10,100-square-foot multi-tenant strip center located at 7410 118th Ave. in Kenosha, Wis.

The property is 100-percent triple net leased to five tenants, including a Starbucks with drive-thru, Supercuts and Sparti’s Gyros.

Jeff Conover, senior managing director with Faris Lee Investments, represented the seller, San Diego-based Williams Corner Investors LLC. The buyer was DJ Commercial Properties from Forest Hills, N.Y. The property sold at a 7.5 percent cap rate and $297 a square foot.

Built in 2001 and situated on 1.38 acres, Williams Corner is part of the I-94 / Hwy 50 Regional Town Center which is the dominant shopping center in the area and sees approximately 111,000 vehicles per day. Other nearby anchor tenants include Best Buy, Woodman’s Markets, Gander Mountain, and Steinhafels.