Milwaukee-based
Marquee Capital, the real estate investment arm of
Marcus Corp., purchased the large-format retail portions of the 84South development in Greenfield for $33.1 million.
The purchase includes three separate retail buildings with about 195,000 square feet of leasable retail space, all of which is occupied. Major tenants include Kohl's, Total Wine & More, Fresh Thyme Market and Ulta Beauty, among others.
The 17.8-acre parcel was purchased from a Greenfield-based entity called 84 South Retail Center LLC, according to state records. That entity
purchased the property in 2019 for $34.5 million. The property has a 2023 assessed value of $35.9 million, according to Milwaukee County records.
Marquee Capital primarily invests in retail and senior housing properties nationally, with a local portfolio including the Grafton Commons shopping center. The company did not respond to request for comment.
84South is a nearly 50-acre mixed-use development located along I-894 between Layton Avenue and South 84th and South 92nd streets led by Milwaukee-based
Cobalt Partners. In addition to retail buildings, it also includes an Aurora Health Care outpatient surgery center; the 268-unit Forte at 84South apartment complex, which was developed by Fiduciary Real Estate Development; and a
planned Cooper's Hawk restaurant.
