ELMWOOD PLAZA
3701 DURAND AVENUE|RACINE, WI 53123
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SAVE-A-LOT GROCERY ANCHORED, ADD VALUE RETAIL SHOPPING CENTER Newmark Grubb Knight Frank (“NGKF”) Capital Markets has been exclusively retained by Ownership to sell the 100% interest in Elmwood Plaza located at 3701 Durand Avenue, Racine, WI (“the Property”). Elmwood Plaza is a 281,582-square-foot community shopping center located 15 miles north of the Illinois state line, 42 miles south of Milwaukee and 77 miles north of Chicago. The Property is located at the corner of Durand Avenue (State Highway 11) and Lathrop Avenue, and is situated on 17.77 acres located between Lake Michigan to the east and the Regency Mall trade area to the west. A new Save-A-Lot grocery store opened in Spring 2017, which should be a catalyst for the ample leasing upside and/or partial redevelopment opportunity.
New Grocery Anchor
281,582 SF Total GLA / 175,336 SF Retail GLA
$187,000 NOI NOI is $1.07/SF for Retail GLA| $0.67/SF for Total GLA
Lathro p Ave
nue
17.8 Acre Site / Partial Redevelopment Opportunity
55% Retail Occupancy
Close Proximity to Chicago & Milwaukee PRIMARY CONTACT
Durand Avenue
BRUCE HARRIS Senior Managing Director 773.957.1468
[email protected]
BROKER OF RECORD SERGIO CHAPA, SIOR Senior Managing Director 773.957.1436
[email protected] WI License # 57214-90
8750 W. Bryn Mawr Avenue, Suite 350, Chicago, IL 60631 I 773.957.1400 www.ngkf.com Procuring broker shall only be entitled to a commission, calculated in accordance with the rates approved by our principal only if such procuring broker executes a brokerage agreement acceptable to us and our principal and the conditions as set forth in the brokerage agreement are fully and unconditionally satisfied. Although all information furnished regarding property for sale, rental, or financing is from sources deemed reliable, such information has not been verified and no express representation is made nor is any to be implied as to the accuracy thereof and it is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice and to any special conditions imposed by our principal.
