REIT buys Delafield shopping center for $15.1 million

Ramco-Gershenson Properties Trust, a Farmington Hills, Mich.-based real estate investment trust (REIT) announced that it has purchased the 113,617-square-foot Nagawaukee Shopping Center in Delafield for $15.1 million.

Located northeast of I-94 and Highway 83, Nagawaukee Shopping Center is anchored by a Kohl’s Department Store and also has Bath & Body Works, GNC, Maurice’s, the UPS Store and Cost Cutters as tenants.

The shopping center is also anchored by a 60,000 square foot Sentry Supermarket, which is not part of the acquisition.

Nagawaukee Shopping Center is Ramco-Gershenson’s third property in the greater Milwaukee area and its fourth asset in the state of Wisconsin.

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