Somerstone recently completed the two tenant First Watch building in the Shops at Meadow Ridge. Located along Capitol Drive in Pewaukee, the property benefits from excellent visibility and outstanding co-tenancy with other users in the development.
Texas Roadhouse sold in Oak Creek
With the assistance of Mid-America Real Estate Group – Wisconsin, Somerstone directed the sale of the ground lease for a new Texas Roadhouse restaurant in the Highgate development in Oak Creek, Wisconsin.
The Den at Fox Run is now leasing
A brand new, 72-unit, multi-family development in Waukesha is now leasing. Featuring luxury amenities including custom Amish real-wood cabinets, keyless door access and underground parking, The Den offers eight attractive floor plans with 1, 2 and 3-bedroom options.
Located in the brand new Fox Run mixed-use development, the Den is ideally located near retail shops, a grocery store, micro-hospital, and more.
Ascension Hospital ground lease sold
Somerstone is pleased to announce the sale of the Ascension Milwaukee Hospital ground lease located in the Fox Run development in Southwest Waukesha. The Somerstone team successfully procured a west coast exchange buyer to purchase the site shortly after the hospital opened.
Somerstone acquires Fox Run Shopping Center
In a joint venture with VJS Development and Bedford Development, Somerstone acquired Fox Run Shopping Center at the northwest corner of W. Sunset Drive and W. St. Paul Avenue in Waukesha in late 2019. The center was home to a large vacant in-line retail strip building, an aging Sentry grocery store, a Chase bank branch and a vacant Denny’s. Working closely with the City of Waukesha, the property is in the process of being redeveloped into a $32M+ mixed-use commercial project that will include a new 72-unit, luxury apartment complex, a ±30,000 square foot, two-story, micro-hospital, and a new Landmark Credit Union branch. One building pad remains for retail/commercial development. Over $4M in infrastructure, utility, landscaping and access improvements has been invested in the high visibility site to capitalize on its location along the well-established and growing Sunset Drive commercial corridor. Project completion is anticipated in 2Q2022.
Somerstone acquires former Citgo gas station
Somerstone recently purchased 4306 West Layton Avenue in Greenfield, WI to redevelop the property into a Starbucks Coffee Bistro. The project includes the removal of the property’s gas station equipment, canopy and car wash. The main convenience store structure will be converted into a 2,600-square-foot coffee shop with drive-thru.
The Shops at Meadow Ridge are open for business
Somerstone recently completed the development of ±9 acres along Capitol Drive in Pewaukee. Known as The Shops at Meadow Ridge, the four parcel, five building development enjoys exceptional visibility from Capitol Drive. As one of the last available large parcels of land along the well-established Capitol Drive corridor, the site attracted an outstanding mix of national and regional tenants including Chick Fil A, Starbucks, MOD Pizza, Jersey Mike’s Subs, Shopko Optical, Orange Shoe Fitness, and Summit Credit Union.
Highgate is coming soon at I-94 and Drexel in Oak Creek
A new retail development offering great visibility and accessibility to and from I-94. Located on the northeast corner of I-94 and Drexel Avenue, this high-profile retail development will be developed opposite the new IKEA store. South 13th Street has been widened to four lanes. Four outlot parcels available ranging from 1.5 to 2.3 acres.