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Hobby Lobby and Dunham’s Sports, Brookfield, WI

Hobby Lobby and Dunham’s Sports

WI, United States

Price $13,714,807
Cap Rate
NOI
Lease Term Various
Lease Type
Rental Increases Various
Year Built 2015
Building Size 109,325 sq. ft.
Lot Size 8.7 Acres (377,665 sq. ft.)
Status Sold
Lead Broker Information Vince Aicale
Senior Managing Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Senior Managing Director
415.228.9114
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

BRAND NEW, LONG-TERM, NET LEASES
» 10-year initial lease for Hobby Lobby
» 14-year initial lease for Dunham’s Sports

HIGH-TRAFFIC, CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Great access and visibility to 42,200 vehicles per day on West Bluemound Road
» Close proximity to Waukesha County Airport, downtown Milwaukee, and several shopping centers, schools, hotels, and office parks
» Average household income of $139,692 within a 1-mile radius

CLOSE PROXIMITY TO SIGNIFICANT NEW DEVELOPMENTS
» The Corners of Brookfield: $200 million project with 400,000 SF of retail and 235 luxury apartments
» The Corridor: 66-acre mixed-use development with 877,000 SF of Class A office space, retail, and multi-purpose use
» Calhoun Crossing: Major redevelopment of Plaza 173, anchored by Fresh Thyme and DSW
» Brookfield Square: Multi-million dollar expansion adding an additional 19,000 SF to the already 1 million SF mall

NEW CONSTRUCTION
» Construction in 2015
» New building, limiting near-term deferred maintenance and capital costs

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is strategically located on West Bluemound Road, Brookfield’s major retail corridor, with access and visibility to 42,900 vehicles per day. Interstate 94, which has a traffic count of 118,000 vehicles per day, has access points to the east and west of the site. Several shopping centers are located nearby, including Brookfield Square, which has more than one million square feet of retail area. The site is advantaged by its central location. Wisconsin Hills Middle School, Swanson Elementary School, and Brookfield Central High School are located within a two-mile radius of the property and have a combined enrollment of 2,846 students. The 158-acre Brookfield Corporate Center is directly across the street from the property. Waukesha County Airport is just over five miles from the site, while downtown Milwaukee is less than twelve miles away. West Bluemound Road is currently undergoing massive redevelopment and renovation. Calhoun Crossing, a redeveloped shopping center anchored by Fresh Thyme and DSW, is half a mile from the site, as is The Corridor, a 66-acre mixed-use development. Brookfield Square, two miles east of the property, is undergoing a 19,000 square foot expansion. Just over two miles west of the property is The Corners of Brookfield, a $200 million lifestyle center anchored by Wisconsin’s first Von Maur department store.

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