RAMCO-GERSHENSON ACQUIRES MILWAUKEE SHOPPING CENTER

by admin

DELAFIELD, WIS. — Ramco-Gershenson Properties Trust has acquired a 106,000-square-foot shopping center in Delafield, located about 25 miles west of Milwaukee, for $22.7 million. The purchase includes the assumption of a $9.3 million mortgage loan, which carries an interest rate of 5.8 percent maturing in 2026. A 38,000-square-foot Marshalls and a 40,000-square-foot Sports Authority anchor the property, which is the second phase of Ramco-Gershenson’s Nagawaukee Center. Ramco-Gershenson has owned the first phase of Nagawaukee Center, anchored by an 81,000-square-foot Kohl’s and a 60,000-square-foot Sentry Market, since June 2012. Nagawaukee Center is located at the northeast quadrant of I-94 and Highway 83.

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