1291-1365 W. Paradise Drive, West Bend, WI
West Bend Corporate Center
Purchased from a bank's REO portfolio, the property had lost three major tenants in the previous two years. Within eighteen months, the Somerstone team successfully negotiated long-term leases with three national retailers to occupy over 76,000 square feet of the available space.
When acquired, the property was roughly 35% occupied with the last anchor tenant on the verge of vacating. As of 3Q24, the property is 96% occupied and has received major capital improvements to the grounds, facade, mechanical systems and roof. Anchored by Dunham’s Sports, Ross Dress for Less and Old Navy, and shadow-anchored by a Walmart Supercenter, the asset is located within the well-established Paradise Drive retail corridor.
Property type
Regional retail strip center
Building size
127,992 SF
Strategy
Reposition and re-tenant
Tenants
Dunham's, Ross, Old Navy
Acquired
December 2021