The Whole Foods store on Milwaukee’s East Side has changed hands twice in the past five years, most recently selling for $23.5 million to a California-based real estate investment firm.
It sold for $1.3 million more than when the seller first acquired the space more than four years ago in December 2016.
Adam Connor of Colliers International | Wisconsin, who represented the seller in the deal, said the gain in value was a reflection of the ongoing COVID-19 pandemic. He added that limited retail construction should continue to drive up pricing in the market.
“Demand for well-located, net lease assets remains strong as investors are focusing their money on essential businesses,” Connor said.
Address: 2305 N. Prospect Ave.
Sellers: WACO LLC, WACO Santa Ana LLC
Size: 58,375 square feet