Tenants in Moorland Commons, built in 2002, include OfficeMax, Michaels, Buffalo Wild Wings, Subway, ATI Physical Therapy, GNC, Great Clips and U.S. Cellular.
“The property provides the opportunity to invest in a community shopping center anchored by category-leading retailers,” said Dan Rosenfeld, principal at Mid-America Real Estate.
Th minimum opening bid for the property is $4 million, with the auction starting on October 6.
The shopping center’s anchor Target store is separately owned and will not be available in the auction sale.
The shopping center will be 95 percent leased upon the successful completion of a lease for Dunham’s Sports, which will take occupancy of the last remaining anchor space and will occupy 48,734 square feet at Moorland Commons.
In 2012, the shopping center was the subject of a mortgage foreclosure whereby a Waukesha County judge ruled that the original owner, Madison-based EJP Moorland Commons LLC, was in default of $21.3 million on a 2005 mortgage. It was sold at auction to JPMCC 2005 – CIBC13 Beloit Road LLC, in early 2013.