A portion of the Southport Plaza retail center in Kenosha was sold for $10.25 million, according to state property records.
An affiliate of Milwaukee-based ICAP Development sold the property at 7450 Green Bay Road, which is located at the southern portion of the shopping center.
ICAP purchased the 67,000-square-foot property for $3.25 million in 2021 when it housed a Gordmans and Bed Bath & Beyond, both of which have filed for bankruptcy, and redeveloped the property for a Harbor Freight tool store, La-Z-Boy furniture store and Michael’s craft store.
The property was purchased by a Florida-based entity called BZA Kenosha I SPE LLC, which owns the other 38 acres of Southport Plaza with tenants including Dollar Tree, Fresh Thyme and Hobby Lobby, among many others.
Southport Plaza has about 386,000 square feet of space, of which about 12% is vacant, according to marketing materials from CBRE.
