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MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 1
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
Mequon Development Land
PRESENTED BY:
JOE ELDREDGE
MOBILE +1 262 443 8839
EMAIL [email protected]
MARK A. SCHNOLL
DIRECT +1 414 278 6833
EMAIL [email protected]
W Mequon RdW Mequon RdW Mequon Rd
N B
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Table of Contents
> OPPORTUNITY SUMMARY Property Highlights ................................................................................ 4 Property Photographs ........................................................................... 5
> PROPERTY INFORMATION
Physical Description .............................................................................. 7 Property Aerial ...................................................................................... 8
Area Map ............................................................................................... 9 Regional Map ......................................................................................... 10
Zip Code Map......................................................................................... 11
Draft CSM Map ...................................................................................... 12
Floodplain Map ...................................................................................... 13
> AREA OVERVIEW
City of Mequon....................................................................................... 15
Demographics ........................................................................................ 17
> APPENDIX
Colliers | Wisconsin Retail Report - Q1 2015
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL
> Opportunity Summary
COLLIERS INTERNATIONAL
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 4
Property Highlights
OPPORTUNITY SUMMARY
On behalf of the City of Mequon, Colliers International | Wisconsin is pleased to
exclusively present to investors/developers the opportunity to acquire a prime
± 13.420 acre parcel of land located within the Town Center corridor in pres-
tigious Mequon, WI. Mequon is home to the second and third wealthiest zip
codes in Southeastern Wisconsin with a median household income of $102,699
and an average household income of $160,948.
The subject property is located along busy Highway 167 (West Mequon Road)
within TID #3. This district is zoned TC (Town Center) with a master plan
calling for a high quality mixed-use town center. One of the first major town
center developments located within TID #3 is nearly complete. Mequon Town
Center, immediately east of the subject property, is a mixed-use development
featuring 36,000 SF of retail and commercial space with a 28 unit high-end
apartment. Tenants at Mequon Town Center include Colectivo Coffee, Café
Hollander, The Ruby Tap, Elements Massage and more.
± 13.420 Acre Subject Property
Mequon Town Center
> Purchase Price
$1.00 (One Dollar)
> Development Preferences Mixed-Use > Commercial > Multifamily Regional/Local Chains No Big-Box Retail Pedestrian-Oriented Urban Feel
> Proposal Date
All development proposals are due no later than 5:00 pm CST on Friday, Septem-ber 18th, 2015.
Highway 167 facing west along southern portion of subject property.
Outpost Natural Foods
Spectrum Investment
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 5
Offering Guidelines
Colliers International is exclusively marketing the ±13.420 acre city-owned parcel to a select group of qualified
developers. The prospective purchaser will be selected by Seller in consultation with Colliers on the basis of:
1) Intended plans/use for the property
2) Financial strength of purchaser
3) Reputation/past performance within the industry
4) Feasibility and probability of project completion
5) Resulting end effect for City
Offers are due by 5:00pm CST on Friday, September 18th, 2015. The City reserves the right to select a
successful developer upon their initial submitted proposal; however it is the City’s intention to select a group of
developers to proceed to a final and best round of proposals. Upon selection of the final and best participants,
Purchaser shall have the opportunity to meet with the City to present their proposal in anticipation of final selection.
Additional details on timing of the final and best process will be communicated after review of initial offers.
Please contact the brokerage team for additional information or questions.
JOE ELDREDGE MARK A. SCHNOLL
Vice President | Wisconsin Partner | Wisconsin
414.278.6825 414.278.6833
[email protected] [email protected]
Colliers International | Wisconsin
1243 North 10th Street, Suite 300
Milwaukee, Wisconsin 53205
+1 414 276 9500 main | +1 414 276 9501 fax
OPPORTUNITY SUMMARY
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 6
> Property Information
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
COLLIERS INTERNATIONAL
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 7
Physical Description
PROPERTY INFORMATION
> ADDRESSES 6200 & 6300 W Mequon Rd
11300 & 11350 Buntrock Ave
11352 Buntrock Ave (50’ rear portion only)
> TOTAL SITE AREA ± 13.420 Acres
> EXISTING BUILDINGS To be demolished by Buyer
> PARCEL NUMBERS 14-050-02-01-001 (to be divided)
14-050-02-02-001
14-022-15-003.00 (50’ rear portion only)
> ZONING TC Town Center District
The Town Center (TC) District is established to preserve and enhance the unique character of Mequon’s Civic Campus, to create a gateway to the Mequon-Thiensville Town Center, establish and promote pedestrian character, protect the natural environment and improve visual and physical access to the Milwaukee River, mitigate the impacts of vehicular traffic, establish and maintain small, neighborhood-scale mixed uses including a broad range of housing type at densities that support the Town Center businesses, and encourage high quality design standards throughout the Town Center.
> TID All parcels are part of Tax Incremental District No. 3 known as the Town Center, a mixed-use district adopted in 2008. The TID must close by 2028.
Overview of general area including 13.420 acre subject property, Mequon Public Safety Building (not included) and Fromm Family Corporate Office (not included).
Mequon Public Mequon Public Mequon Public Safety BuildingSafety BuildingSafety Building
Fromm Family Fromm Family Fromm Family Corporate OfficeCorporate OfficeCorporate Office
W Mequon RdW Mequon RdW Mequon Rd
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MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 8
Property Aerial
PROPERTY INFORMATION
W Mequon RdW Mequon RdW Mequon Rd
N B
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MMM---T Weyenberg T Weyenberg T Weyenberg LibraryLibraryLibrary
Mequon Mequon Mequon Community ParkCommunity ParkCommunity Park
Mequon Public Mequon Public Mequon Public Safety BuildingSafety BuildingSafety Building
Fromm Family Fromm Family Fromm Family Corporate OfficeCorporate OfficeCorporate Office
The 13.420 acre parcel is located just west of N Cedarburg Rd, one of the main arterial roads in Mequon which runs
along the Milwaukee River. The subject property is bordered on the south by Highway 167 (W Mequon Rd), N
Buntrock Ave to the west and east by the Canadian Pacific Railway, the Ozaukee Interurban Trail and the City of
Mequon Civic Campus which includes City Hall, Logemann Community Center, city pool, park and library.. Along the
northern edge of the property sit two single family houses. Additionally, there is large English Tudor along the
western portion of the subject property. Approximately 50’ of the rear portion of this parcel (14-022-15-003.00)
would be included as part of the subject property.
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 9
Area Map
PROPERTY INFORMATION
The 13.420 acre parcel is located just west of N Cedarburg Rd, one of the main arterial roads in Mequon which runs
along the Milwaukee River. The subject property is bordered on the south by Highway 167 (W Mequon Rd), N
Buntrock Ave to the west and east by the Canadian Pacific Railway. Along the northern edge of the property sit two
single family houses. Additionally, there is large English Tudor serving as the Fromm Family Corporate Office along
the western portion of the subject property. Approximately 50’ of the rear portion of this parcel (14-022-15-
003.00) would be included as part of the subject property.
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 10
Regional Map
PROPERTY INFORMATION
Lake Michigan
MilwaukeeMilwaukeeMilwaukee
Milwaukee: 17 Miles
The community of Mequon is very well located in Southeastern Wisconsin. The City sits in Ozaukee county near the
borders of Milwaukee and Washington Counties. Mequon’s proximity along Interstate 43 provides for excellent ac-
cess to the City and surrounding communities, including the City of Milwaukee which is located just 17 miles south of
Mequon and General Mitchell International Airport (21 miles). Additionally, Highway 167 serves as a connector high-
way between Interstates 41 and 43, further driving traffic through the City and directly pass the subject property.
General Mitchell International Airport
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 11
Zip Code Map
PROPERTY INFORMATION
The subject property is located within the third wealthiest
Milwaukee-area zip code (53092) and just next to the sec-
ond wealthiest (53097). The 2014 average net worth for
53092 was $877,261 with an average household income of
$152,325 This zip code has a median home value of
$326,236.
WEALTHIEST MILWAUKEE-AREA ZIP CODES
53097 (#2) 53092 (#3)
Post Office/City Mequon Mequon/Thiensville
Average Household Net Worth $847,732 $877,261
Avg. Household Income $134,849 $152,325
Median Home Value $310,886 $326,236
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 12
Draft CSM
PROPERTY INFORMATION
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 13
Floodplain Map
PROPERTY INFORMATION
As currently defined in the City of Mequon Floodplain Map, the subject property is not
located within a floodplain.
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
> Area Overview
COLLIERS INTERNATIONAL
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 15
City of Mequon
Located on the western shores of Lake Michigan just north of Milwaukee, the City of Mequon boasts majestic bluffs, stately homes, high-end developments and expansive open space. The community enjoys many parks, five golf courses, the winding Milwaukee River and easy access to the interstate system for a convenient commute to Milwaukee. Mequon's rural heritage is preserved by high development standards and low-density zoning regulations. Mequon has one of the lowest crime rates and one of the lowest tax rates in the Metropolitan Milwaukee area. The award winning K-12 school system is ranked as the top public school system in Wisconsin. Prime healthcare facilities and services are readily available throughout the City and include Columbia St. Mary's Hospital and Aurora Health Care. Mequon is also a business-friendly community with over 300 businesses and an industrial park with small and mid-sized firms as well as large firms like Rockwell Automation.
AREA OVERVIEW
MAJOR EMPLOYERS (listed alphabetically)
Employer Industry
Columbia St. Mary’s Hospital General Medical & Surgical Hospitals
Concordia University Colleges & Universities
Drug Treatment Helpline Human Rights Organization
HB Performance Inc Motor Vehicle Brake System Mfg
Mequon-Thiensville School District Elementary & Secondary Schools
Kleen Test Products Corp Polish & Other Sanitation Goods Mfg
Megamart Supermarkets & Other Grocery Stores
Metro Market Supermarkets & Other Grocery Stores
Milwaukee Area Technical College Colleges & Universities
River Club Country Maintenance Admin Management Consulting Services
Rockwell Automation Other Technical Consulting Services
Strategem Inc Custom Computer Programming Services
Telsmith Inc Construction Machinery Mfg
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 16
City of Mequon (cont.)
EDUCATION
Mequon is home to an award-winning high school, Homestead High School. In 2009, Homestead was ranked by BusinessWeek as Wisconsin’s top high school. Mequon is also home to several higher education institutions. Concordia University of Wisconsin, a private Lutheran-affiliated college, is the largest university in Mequon with nearly 8,000 students enrolled annually. The university offers 78 undergraduate majors and minors as well as 17 graduated programs, eight accelerated adult education programs and three doctoral/professional programs. Concordia has 10 classroom centers on its 192-acre campus overlooking Lake Michigan. Mequon also contains the northern campus of the Milwaukee Area Technical College with an enrollment of nearly 6,000 students. TRANSPORTATION
Highways > Interstate Highway 43
State Highways 57, 167, and 181
County Highway W Public Transit
Ozaukee County Transit offers Ozaukee County Express bus service along I-43 and
Shared-Ride taxi service throughout the county (www.ozaukeetransit.com)
The Milwaukee County Transit System offers bus service to MATC and Concordia University (www.ridemcts.com). Air Commercial airline service is available at:
Milwaukee’s General Mitchell International Airport (27 miles south) Chicago O'Hare International Airport (95 miles south)
Rail Area rail freight service is provided by Canadian National Railway and Union Pacific Railroad. Passenger rail service, provided by Amtrak, is available at the Milwaukee Intermodal Station, 18 miles south. Water
Port of Milwaukee (21 miles south)
AREA OVERVIEW
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 17
Demographics
AREA OVERVIEW
POPULATION City of Mequon Ozaukee County
2015 Est. Total Population 23,220 87,068
2018 Projected Total Population 23,451 87,758
2010 Census Population 23,134 86,395
2000 Census Population 21,911 82,316
Projected Annual Growth 2015 to 2020 0.2% 0.2%
Historical Annual Growth 2000 to 2015 0.4% 0.4%
HOUSEHOLDS City of Mequon Ozaukee County
2015 Est. Households 8,902 35,366
2018 Projected Households 9,219 36,550
2010 Census Households 8,639 34,228
2000 Census Households 7,938 30,856
Projected Annual Growth 2015 to 2020 0.7% 0.7%
Historical Annual Growth 2000 to 2015 0.8% 1.0%
INCOME (2015 EST.) City of Mequon Ozaukee County
HH Income $200,000 or More 20.1% 9.1%
HH Income $150,000 to $199,999 9.9% 7.2%
HH Income $100,000 to $149,999 21.4% 18.3%
HH Income $75,000 to $99,999 11.9% 14.6%
HH Income $50,000 to $74,999 12.5% 16.6%
HH Income $35,000 to $49,999 8.9% 12.9%
HH Income $25,000 to $34,999 6.3% 8.0%
HH Income $15,000 to $24,999 4.6% 7.5%
HH Income Under $15,000 4.3% 5.7%
Average Household Income $160,948 $104,627
Median Household Income $102,699 $73,924
Per Capita Income $61,908 $42,625
Average Household Net Worth $942,038 $708,304
23,220 Population
8,902 Households
$102,699 Med. Household Income
$942,038 Avg. HH Net Worth
City of Mequon
MEQUON DEVELOPMENT LAND | OFFERING MEMORANDUM COLLIERS INTERNATIONAL P. 18
Demographics (cont.)
Source: Regis
AREA OVERVIEW
OCCUPATION (2010 ACTUAL) City of Mequon Ozaukee County
Mgmt, Business, & Financial Ops 23.7% 19.1%
Professional, Related 28.5% 23.2%
Service 10.4% 14.1%
Sales, Office 27.3% 26.1%
Farming, Fishing, Forestry 0.1% 0.6%
Construction, Extraction, Maint. 3.8% 5.3%
Production, Transport, Material Moving 6.3% 11.6%
White Collar Workers 79.4% 68.4%
Blue Collar Workers 20.6% 31.6%
CONSUMER EXPENDITURE (2015 EST.) City of Mequon Ozaukee County
Total Household Expenditure $889 M $2.57 B
Apparel $31.3 M $89.6 M
Contributions, Gifts $72.6 M $189 M
Education, Reading $40.8 M $106 M
Entertainment $50.8 M $145 M
Food, Beverages, Tobacco $129 M $383 M
Furnishings, Equipment $32.2 M $90.6 M
Health Care, Insurance $73.6 M $220 M
Household Ops, Shelter, Utilities $274 M $793 M
Miscellaneous Expenses $12.5 M $37.1 M
Personal Care $11.3 M $33.1 M
Transportation $161 M $479 M
$889 M Total Household Expenditure
79.4% White Collar Workers
Development Opportunity
Offering Memorandum For Sale | Mequon Development Land
> Appendix
COLLIERS INTERNATIONAL
Research & Forecast Report
Metro Milwaukee | Retail First Quarter 2015
As 2015 progresses, the retail sector has
responded aggressively. Despite the growing
popularity of online sales, the inventory-to-sell ratios
of brick and mortar retailers are at their strongest
levels in years. The introduction of numerous new
developments in the marketplace is exciting not only
for retail, but all aspects of real estate as several new
“lifestyle” developments have commenced in Q1.
These rental communities will allow their tenants to
live a convenient lifestyle including restaurants,
shopping and grocery stores all within walking
distance.
Ideal small tenant spaces are at a premium right now
because most tenants would prefer end cap space
for the best visibility and accessibility. This, of course,
is nothing new. We are seeing high valued
neighborhood storefront space emerging within the
aforementioned new mixed use developments with
high density, multi-story apartments in markets like
Shorewood, Wauwatosa, Mequon, Oak Creek and
Grafton. Even with these dynamic trends, the first
quarter statistics read conservative when interpreted
on a national level.
Retail off to a Strong Start Research | Metro Milwaukee
Q1 2015
ECONOMIC INDICATORS
OFFICE USING JOBS
WISCONSIN UNEMPL.
METRO MKE UNEMPL.
MIDWEST UNEMPL.
NATIONAL UNEMPL.
190,450
5.6%
4.8%
5.1%
5.5%
Source: US Bureau of Labor Statistics
Quarter
to Quarter Year Over
Year
The real estate market is shifting. The market is
finally seeing prerecession numbers, even though
consumers are behaving more conservatively than
they once did prior to 2008.
Although retail sales were off to a slower than
expected start, food and beverage has seen a 7.7%
increase from March of last year. Retailers are
holding tight for the ripple effect of gas prices to be
felt nationwide.
> >
The public sector is on track for billions in upgrades to
infrastructure in metro Milwaukee. We will see an
increase in road construction as the initial highway
designs become outmoded and worn out.
The retail sector looks optimistic for metro Milwaukee.
Nationally, we have seen a slower than predicted start
for 2015. Millennials are paving the way for downtown
developments as they prefer convenience for their
restaurant and shopping needs. As millennials age,
the industry will start to see retail develop in more
concentrated areas that will allow consumers to eat,
sleep and shop all within a short distance of each
other.
> >
2
Retail Sales
The most recent number released shows moderately dampened
retail activity nationwide. It has been reported that sales are
down 0.5% since the beginning of the year. This decline could
partially be attributed to harsh climate conditions across the
country in February combined with shipping delays at west coast
ports due to labor issues. The decline goes against what had
been predicted with lower gas prices, but it is still anticipated the
benefits of fuel savings will still be felt in the retail sector down
the road.
On a macro level, consumer spending is back to pre-recession
numbers and retailers are excited about this. Although there is a
bit more caution in everyone’s step, consumer debt is slowly
growing because of their spending and borrowing habits. We are
seeing a trend with key players in the market that entails fewer
SKUs with deeper inventory. Retailers are hoping that this will
create a sense of urgency with consumers encouraging a “here
today, gone tomorrow” mentality.
Grocery Store Competition
The big news this quarter has been food store segment
activity with anticipation of new grocers expanding or
preparing to operate in this already crowded market segment.
Wisconsin has seen significant commitment and expansion
with Meijer and Costco, not to mention a second Whole
Foods on the way, Sendik’s 2 Go starting up and probably
expanding the brand, and two Fresh Thyme markets under
construction. Traditional supermarkets like Roundy’s stores
have been strategizing to retain their market share. They
have reacted and are focusing on their price points,
increasing the shelf space of fresh and organic produce,
prepared foods and meats, and in some cases updating store
appearances with more attention focused on creating a
positive shopping experience.
While upscale grocers captured higher income consumers,
the big box sector gained market share by appealing to the
cost-conscious customer and basing prices at a lower
price/unit. This has also brought challenges for traditional
supermarkets resulting in declining sales. Where a consumer
could once purchase an item for a fraction of a specialty
grocer, big box stores are now offering the same item at an
even lower cost. As many critics see traditional grocery stores
are in jeopardy with the infiltration of big box stores, Roundy’s
is working to stay ahead of the curve, including the
construction of a new Metro Market in Shorewood, a shifted
emphasis on branding in Wisconsin and continued focus on
growth of Mariano’s in Chicagoland.
2015 Retailer Expansions
1. Dollar General- 700 Stores
2. Forever 21- 470 Stores
3. Dunkin’ Donuts- 410 Stores
4. Dollar Tree- 375 Stores
5. Family Dollar- 375 Stores
6. Tim Hortons- 300 Stores
7. O’Reilly Auto Parts- 200 Stores
8. Dick’s Sporting Goods- 105 Stores
9. Hobby Lobby- 101 Stores
10. Men’s Warehouse-100 Stores
Source: MSN: Money
2015 Retail Closures
1. Radioshack- 1,500-2,400 Stores
2. Family Dollar- 500 Stores
3. Office Depot- 400 Stores
4. Sears- 235 Stores
5. Staples- 225 Stores
6. Aeropostale- 126 Stores
7. Abercrombie & Fitch- 60 Stores
8. JC Penney- 40 Stores
9. Macy’s -14 Stores
10. Barnes & Noble – NA
Research & Forecast Report | Quarter 1 2015 | Metropolitan Milwaukee | Colliers International
Sale Activity
BUILDING(S) CITY SUBMARKET BUYER SELLER SALE DATE PRICE PRICE PSF
20005 W Bluemound Rd Brookfield West IM Properties Menard, Inc 3/18/2015 $11,000,000 $22.96
20214 W Bluemound Rd Brookfield West IM Properties Marcus Corporation 3/18/2015 $8,400,000 $24.29
1280-1300 Brown St Oconomowoc West Wangard Partners Inc. Robert Yunker III LLC 01/12/2015 $4,200,000 $82.31
TOP 10
83
408
1080
648
150 71 85
14 167
93
0
200
400
600
800
1000
1200
Best Grocery Stores in the US
Source: Surveyed by Consumer Reports
Num
ber
of
Sto
res
3
Shopping Malls As consumers are searching for a more convenient
option for their shopping needs, we will begin to see
malls in metro Milwaukee shifting to bring a more
developed “lifestyle” space to their customers.
Mayfair
Mayfair Mall has created more upscale buzz with
expansions near the southeast section of the site. A
140,000 square foot, three story Nordstrom is being
constructed which has also driven new space and
opportunity for retailers in the connector from Nordstrom
to the existing mall. Also, a 24,000 square foot
Container Store will open in September and Nordstrom
will open in October 2015.
Brookfield Square
Construction is underway for phase one of Brookfield
Square’s expansion including 20,000 square feet of
restaurants and shopping. CBL & Associates Inc.
revealed their plans at the beginning of Quarter 1 and
unveiled major tenants we can expect to see in the new
developed space. These retailers include 3 restaurants
(Jason’s Deli, Blackfinn Ameripub and Mooyah Burger)
additional stores are expected to be announced in the
upcoming quarter.
The Shops at Grand Avenue
Recently sold in Q4 2014, there has been a lot of
speculation as to the development direction. Revitalizing
this mall has become key to the recovery of the
Wisconsin Avenue Corridor with the hopeful energy and
creativity of the new owners from New York.
Southridge Mall
The mall continues on a stable path since its renovation
in 2012-13. The trade area in general is challenging
because of the lack of available supply of space or land.
We are watching a new Steinhafels driven development with prime access on and off I-894 at 84th Street.
Research & Forecast Report | Quarter 1 2015 | Metropolitan Milwaukee | Colliers International
Bayshore Town Center
Old Navy is under construction occupying the old
Applebee’s location and more, while the Applebee’s
moved south to a new stand-alone building fronting Port
Washington Road. Bayshore will be seeing significant
change over the coming years with the anticipation of the redevelopment of the former Sears site.
Mayfair Southeast Expansion
Brookfield Expansion
Southridge
Brookfield Square
Mayfair
Bayshore
Grand Avenue
Mixed-Use Developments
We have seen a surge in mixed-use developments and
town centers throughout the metro Milwaukee market
and will continue to see this trend due to the
enhancements it is bringing to our communities.
The Mayfair Collection
Q1 has brought on new retailers joining HSA’s Mayfair
Collection (MC) which is just turning one year old. New
tenants and uses include Carhartt, Whole Foods, Home
Goods, a 140-room Hilton Homewood Suites hotel and
Bartolotta’s Restaurants including a modern diner, a
beer-themed pub and a casual French bistro. HSA has
now expanded this brand across Burleigh, recently
acquiring industrial space which will be converted into
premium retail. There are also 1,400 residential units to
be developed over the next 5 years on the northern
quadrant of the MC complex.
The Corridor- Brookfield
Irgens is including 140,000 square feet of retail at this
mixed use, 62 acre development, 870,000 square foot
development. Retail users announced so far include
Dick’s Sporting Goods and Marshall’s.
The Mayfair Collection
Rendering of the Mayfair Collection apartment development.
4 Research & Forecast Report | Quarter 1 2015 | Metropolitan Milwaukee | Colliers International
Rendering of The Corners Development
Drexel Town Square
The former 85 acre Delphi site at the southwest quadrant
of Drexel and Howell Avenue is poised to be a new
destination Downtown for the Oak Creek. Visitors and
businesses will benefit from the convenient location with
the recent Drexel interchange added to I-94. Drexel Town
Square will have approximately 848,000 square feet of
finished building space including retail, restaurant, office,
residential and a new library and city hall. Meijer will be the
primary anchor and there are at least two different high
density residential developments planned.
Drexel Town Square
The Corners at Brookfield
The Corners, a reportedly $200 million development,
will be a 750,000-square-foot lifestyle project including
retail, restaurant and apartment development on a 19-
acre site bounded by West Bluemound Road, North
Barker Road and I-94. The site was formerly occupied
by Marcus Theatres’ West Point Cinemas and Menards.
Retailers announced include a 140,000 square foot Von
Maur, 32,000 square foot Sendik’s Market,
Anthropologie, Lululemon Athletica, Benelux and
Collectivo to name a few. Project marketing is being
coordinated through Red Legacy and others.
The Corners
The Corridor- Brookfield
Copyright © 2015 Colliers International.
The information contained herein has been obtained from sources deemed reliable.
While every reasonable effort has been made to ensure its accuracy, we cannot
guarantee it. No responsibility is assumed for any inaccuracies. Readers are
encouraged to consult their professional advisors prior to acting on any of the
material contained in this report.
Sean Osborne
Sr. Vice President
Retail Group | Wisconsin
Direct +1 414 278 6841
Shayne Chelminiak
Associate Broker
Retail Group | Wisconsin
Direct +1 414 278 6879
Russ Sagmoen
Vice President
Retail Group | Wisconsin
Direct +1 414 278 6810
Don Zien
Sr. Vice President
Retail Group | Wisconsin
Direct +1 414 278 6851
*Content contributor
Colliers International | Wisconsin
1243 N 10th Street
Suite 300
Milwaukee, WI 53205
TEL: 414 276 9500
FAX: 414 276 9501
United States: 140
Canada: 31
Latin America: 24
Asia: 39
Australia New Zealand: 160
Europe & Middle East: 108
$2.2 billion in annual revenue
1.7 billion sf under management
16,300 professionals and staff
RETAIL SERVICES | METROPOLITAN MILWAUKEE
Jennifer Cameron
Research Analyst
Direct +1 414 278 6801
0%
10%
20%
30%
40%
Unemployment Fuel Prices Financial MarketVolatility
Personal CreditAvailability &Debt Levels
Housing MarketChanges
Tax Increases
39%
7% 11%
18% 12% 12%
23% 26% 26%
14% 8%
4%
2014
2015
2015 Top Influencers of Consumer Confidence
2015 Expectations
This is undoubtedly one of the most exciting times in Wisconsin’s retail market. Retail demand and supply are unwavering,
and brokers are busy getting deals done. Trends are pointing in the direction of the boomers, and generation X/Y are driving
the retail sector, while developing the shopping experience according to the consumer. Communities and developers are
working in sync, and the public sector is on board with TIF incentives when the numbers make sense. In summary, we are in
exceptional times right now.
502 offices in 67 countries on 6 continents
RESEARCH
CONFIDENTIALITY & DISCLAIMER STATEMENT
This Offering Memorandum contains select information pertaining to the business and affairs of the Property known as the 13.420 Acre City-Owned Land in
Mequon, WI. It has been prepared by Colliers International. This Offering Memorandum may not be all-inclusive or contain all of the information a prospective
purchaser may desire. The information contained in this Offering Memorandum is confidential and furnished solely for the purpose of a review by a prospective
purchaser of the Property. It is not to be used for any other purpose or made available to any other person without the written consent of Seller or Colliers
International. The material is based in part upon information supplied by the Seller and in part upon financial information obtained by the Property sources it
deems reliable. Owner, nor their officers, employees, or agents makes any representation or warranty, express or implied, as to the accuracy or completeness
or this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto. Prospective purchasers should
make their own projections and form their own conclusions without reliance upon the material contained herein and conduct their own due diligence.
By acknowledging your receipt of this Offering Memorandum, you agree:
1) The Offering Memorandum and its contents are confidential;
2) You will hold it and treat it in the strictest of confidence;
3) You will not, directly or indirectly, disclose or permit anyone else to disclose this Offering Memorandum or its contents in any fashion or manner detrimental
to the interest of the Seller; and
4) By accepting this material, you are not entering into a co-broker relationship with Colliers or Seller. Neither Colliers nor Seller has any obligation to pay a
commission to outside brokers unless agreed to via a separate agreement.
Owner and Colliers International expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers to purchase the
Property and to terminate discussions with any person or entity reviewing this Offering Memorandum or making an offer to purchase the Property unless and
until a written agreement for the purchase and sale of the Property has been fully executed and delivered.
If you wish not to pursue negotiations leading to the acquisition of 13.420 Acre City-Owned Land in Mequon, WI or in the future you discontinue such
negotiations, then you agree to purge all materials relating to this Property including this Offering Memorandum.
A prospective purchaser’s sole and exclusive rights with respect to this prospective transaction, the Property, or information provided herein or in connection
with the sale of the Property shall be limited to those expressly provided in an executed Purchase Agreement and shall be subject to the terms thereof. In no
event shall a prospective purchaser have any other claims against Seller or Colliers International or any of their affiliates or any of their respective officers,
Directors, shareholders, owners, employees, or agents for any damages, liability, or causes of action relating to this solicitation process or the marketing or sale
of the Property.
Confidentiality