CHICAGO, MILWAUKEE—An affiliate of Next Realty, LLC has purchased three Milwaukee area retail properties totaling approximately 126,000 square feet for about $17 million. The properties were sold by Siegel-Gallagher's Investment PropertiesGroup.
“We like strong, stable communities and these definitely count,” Eteri Zaslavsky, managing director of Northbrook, IL-based Next Realty, tells GlobeSt.com. The retail areas surrounding the acquisitions have very high rates of occupancy, for example, and each also has “healthy development going on.”
Furthermore, “when compared to similar properties in the Chicago area, yields are more attractive in Milwaukee,” she says. The properties were acquired on behalf of Next Realty Fund VIII, LP. The fund has now acquired nine centers across the US for a total of more than $100 million.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
