Hanley Investment Group Real Estate Advisors has arranged the sale of Cornerstone Shopping Center, a fully leased retail property in the North Shore trade area of the Milwaukee region. The 13,308-square-foot center is situated directly across from Bayshore, a prominent mixed-use destination in Wisconsin, positioning the asset within an established retail corridor with complementary traffic drivers.
The shopping center consists of two retail buildings totaling 13,308 square feet on a 1.05-acre site. The property is located at 635-695 West Silver Spring Drive and 5575-5595 North Port Washington Road in Glendale, Wisconsin. According to the parties involved, the center was 100% occupied at the time of sale, underscoring stabilized in-place income at closing.
Hanley Investment Group Executive Vice President and Partner Jeff Lefko and Executive Vice President Bill Asher, in association with ParaSell, Inc., represented the seller, described as a private investor based in North San Diego County, California. Their team led the marketing process for the asset on behalf of this private owner, which elected to dispose of the property after holding it as an investment.
The buyer, SW Neighborhood Centers IV, acquired the property as an affiliate of Alabama-based commercial real estate firm Shannon Waltchack. The buyer represented itself in the transaction, indicating that no third-party brokerage firm was engaged on the buy-side. The buyer is identified as an institutional entity, aligning the acquisition with the type of capital typically associated with portfolio-building or long-term hold strategies, although no specific strategy was disclosed.
Lefko noted that the team generated multiple competitive offers from both private equity groups and institutional investors within the first few weeks of bringing the shopping center to market. The marketing effort ultimately resulted in securing an all-cash institutional buyer that closed escrow in 45 days. The ability to attract a range of capital sources and move from marketing launch to closing within a relatively short window points to solid buyer interest for fully occupied, small-format retail centers in established trade areas.
Specific pricing and yield metrics were not disclosed, nor were details on lease terms or tenant roster. Nonetheless, the closing of Cornerstone Shopping Center adds another data point for investor activity in Wisconsin retail, particularly in the Milwaukee metro’s North Shore trade area across from a well-known mixed-use destination such as Bayshore.
