WI Strategic Equity I LLC

(Outback Plaza - Milwaukee, WI)

Invest Now Starting With As Little As $5,000

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Deal Highlights

  • Strong Returns- The average total returns are 14% over the hold period & average cash on cash returns are 10.3% cash on cash return over the hold period
  • Value Add/Growth Possibilities- in the long-run we see growth from the investment due to capital investment that others are/have invested in the area, current vacancy at the property and below market rent with some of our tenants.
  • Ideal Tenants & Lease Structure - There is an excellent combination of stability & creditworthiness in our retailers, most of which are service oriented/internet resistant. Furthermore the property has NNN (triple net) leases which should help future cost increases from inflation etc.

About This Property

WI Strategic Equity I LLC is a 22,558-square-foot retail strip located at 4830 S 76th St, Greenfield (Milwaukee MSA), WI 53220. The 89% occupied shopping center was built has direct frontage and excellent visibility from busy 76th Street.

Other Key Points:

  • Internet/Amazon Resistant Tenant Mix: The property features an excellent mix of Amazon resistant tenants with the vast majority of the property being occupied by hair cutting/salon, specialty/niche retail (mattresses and big & tall men’s clothing), and financial services.
  • Direct Frontage & Excellent Visibility: The property is situated on a busy road with 36,000+ cars/day. Traffic counts are one of the most important metrics for retail tenant success, another critical success factor is visibility, luckily this property could not have better visibility or drive access!
  • Value Add: The investment offers upside through leasing vacancy (11% of GLA) as well as increasing the existing tenants’ rent which is below market.
  • “Skin in the Game”: The Mascia team will be investing $600,000+ of our own money (30%+ of the total invested capital) which is up to 5 times more than many other real estate sponsors. We will likely be the largest investment group, we believe in aligning our interests with our investors.
  • Busy Retail Corridor: Our retail center is on a main retail corridor with many other national retailers as neighbors including: Walmart, Petco, Starbucks, Panera, Chick-fil-A, Dick’s Sporting Goods, McDonald’s, TJ Maxx, Best Buy, Party City, Bed Bath & Beyond, DSW, Dollar Tree, & many more.
  • Southridge Mall: Located next to Wisconsin’s largest mall, owned by Simon Property Group with 1.2 million SF of retail space & 109+ stores.
  • New Development: Simon Property Group is putting millions into redeveloping parts of the Southridge Mall into a Dick’s Sporting Goods & Round 1 Bowling & Amusement Complex; a 48-acre mixed use development called 84-South including 375,000 SF of retail was recently completed & is fully occupied. 2 new apartment projects are nearby as well;  270 apartments opening later this year (move2forte.com) & 160 apartments that were recently completed (greenbeltapts.com)
  • Large MSA & Robust Demographics: Only a 10-mile drive from Milwaukee’s downtown area; Milwaukee is the largest city in Wisconsin & the Milwaukee MSA is the second-most densely populated area in the Midwest with an estimated population of 1.6 MM; Furthermore, the asset has strong demographics with 300,000 within 5-miles.
  • Fortune 1000:  The area is home to ten Fortune 1000 companies including: Harley-Davidson, Kohl’s, & Northwestern Mutual just to name a few.
  • Margin of Safety: There is an excellent combination of stability & creditworthiness from our national retailers: Destination XL (NYSE: DXLG), One Main Financial (NYSE: OMF) & Mattress Firm. In addition, 100% of the tenants have NNN (triple net) leases which should help mitigate future cost increases.
  • Experienced Sponsor: The Mascia team has 100+ years of combined experience with over 2 million SF of real estate controlled.

Location Details

Details About the Area - Milwaukee, WI

Milwaukee is the largest city in the state of Wisconsin and the fifth largest city in the Midwest. As of 2015, the city’s population is approximately 600,000, making it the 31st largest city in the country. Milwaukee is the main cultural and economic center of the Milwaukee metropolitan area. The city is also part of the larger Milwaukee-Racine-Waukesha CSA, which has an estimated population of more than 2 million in 2010. Milwaukee is the second most densely populated metropolitan area in the Midwest, surpassed only by Chicago. The Milwaukee metropolitan area encompasses Milwaukee, Ozaukee, Washington and Waukesha counties and spans 1,500 square miles.

Milwaukee is home to the international headquarters of 10 Fortune 1000 companies: #104: Northwestern Mutual Life Insurance Co., #143: ManpowerGroup, #157: Kohl’s Corp., #372: WEC Energy Group, #445: Rockwell Automation Inc., #488: Harley-Davidson Inc., #732: A.O. Smith Corp.,  #854: Gardner Denver Holdings Inc., #887: REV Group Inc., #982: Rexnord Corp. The Milwaukee metropolitan area ranks fifth in the United States in terms of the number of Fortune 500 company headquarters as a share of the population. Milwaukee also has a large number of financial service firms, particularly those specializing in mutual funds and transaction processing systems, and a number of publishing and printing companies.

The city is home to many universities and colleges including  Marquette University (12,000+ students), University of Wisconsin–Milwaukee (26,000+ students), Medical College of Wisconsin (1,200+ students) and Milwaukee School of Engineering (2,800+ students).

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Project Documents

To help in your due-diligence, Mascia Development is sharing our confidential documents. Please do not distribute.