Retail v Wisconsin

Marcus & Millichap closes $2.7 million shopping center sale in Wisconsin

Marcus & Millichap closes $2.7 million shopping center sale,ph01

The Patton|Wiles| Fuller Group of Marcus & Millichap negotiated the sale of Nathan Plaza, a 27,880-square-foot shopping strip located in Prairie Du Chien, Wisconsin. The asset sold for $2.775 million, which was more than 95 percent of list price.

Erin Patton, Scott Wiles and Craig Fuller, Senior Vice Presidents and Executive Directors with Marcus & Millichap’s National Retail Group, had the exclusive listing to market the property on behalf of the seller, a Florida-based developer.

After a competitive bidding process with multiple offers, the deal was awarded to a private local 1031-exchange buyer. The transaction closed within 40 days of contract signing with the buyer successfully securing new financing in that short timeframe.

Todd Lindblom, Regional Manager and Broker of Record, assisted in closing this transaction.

Nathan Plaza is located at 37885 Selch Road in Prairie Du Chien. The property is a Walmart Supercenter shadow-anchored shopping strip with eight tenants including Dollar Tree, Maurices, Shoe Show, Cottonwood Financial, U.S. Cellular, a Mexican restaurant, a Chinese restaurant and a local pet store. The property was 100 percent occupied at the time of sale.