GREENFIELD, WIS. — Cobalt Partners LLC, a commercial real estate development firm based in Milwaukee, has begun construction on 84South, a 48-acre, $160 million mixed-use development in Greenfield, approximately 10 miles southwest of Milwaukee.
Designed by Milwaukee-based Rinka Chung Architecture, 84South will feature 375,000 square feet of retail and restaurant space, a full-service health club, office space and 360 apartment residences. The development is situated along I-894 at the interchange of 84th Street and Forest Home Avenue, less than a mile from Southridge Mall, the largest enclosed regional mall in the state.
Cobalt Partners has selected Mid-America Real Estate-Wisconsin as leasing agents for 84South, and the firm has already signed a slate of retailers to open in Phase I, which is scheduled for a summer 2017 completion.
“84South is going to expand the Southridge regional trade area and provide retailers an opportunity to locate stores within a submarket that has proven challenging to land within,” says Scott Satula, vice president of Mid-America. “We’re excited to be a part of the 84South development team and are pleased to bring quality shopping and dining options to Greenfield and the neighboring communities.”
The retailers opening in Phase I of 84South include Fresh Thyme Farmers Market (28,700 square feet), Total Wine and More (25,000 square feet), Ross Dress for Less (25,000 square feet), Ulta Beauty (10,000 square feet), Five Below (8,500 square feet), Kirklands (8,000 square feet), Carters/OshKosh (6,900 square feet) and Steinhafels Furniture.
Portillo’s, a Chicagoland-based restaurant chain that serves burgers and hot dogs, has leased a two-acre outparcel at 84South as well. The new restaurant will be the company’s second in the state of Wisconsin.
Mid-America’s leasing team includes Satula, Dam Rosenfeld, Tony Colvin, Dan Cohen and Adam Dreier.
Mid-America Asset Management Inc., a member of Mid-America Real Estate Group and an affiliate of ChainLinks, is the largest third-party retail leasing and management firm in the Midwest with more than 60 million square feet of retail space in its portfolio.
— John Nelson