Two strip malls along Highway 100 have been sold recently for a combined $10.3 million
A West Allis strip mall at 3001 S. 108th St. recently sold to a private investor for $4.3 million. Located in the busy retail area of South 108th Street and West Oklahoma Avenue, the 14,079-square foot multi-tenant retail center is home to a variety of established tenants including HuHot, Tropical Smoothie, Elements Massage, AT&T and others.
The property was sold by an affiliate of Milwaukee-based developer Boulder Venture to Hartland-based 3001 HWY 100 LLC, according to state records.
According to a press release from Colliers, which brokered the sale, the convenient high traffic location, paired with 100% occupancy led to multiple out-of-state bidders for the property and an impressive sale price equal to over $300 per square foot for the recently constructed center.
Boulder Venture was represented by Adam Connor, Josh Minkin and Heather Dorfler of the Colliers Wisconsin Investment Services Team.
A few weeks later another Highway 100 strip mall, this one in Hales Corners, netted an even bigger sale price.
Located about three miles south of the West Allis property at 5602-5636 S. 108th St., the Country Fair Shopping Center sold for $6 million, according to state property transaction records.
The 37,219-sqare-foot retail strip is located next to a Festival Foods store. The building was constructed in phases from 1958 to 1973; and renovated in 2017, according to an Outlook Management Group listing. The center’s tenants include Dollar Tree, Tandy Leather, Health Hut, Mama Bev’s Bakery, iBrows by Nilema, First Lady Nails and Verizon Wireless.
The property was sold by an affiliate of Muskego-based Outlook Development Group to S26th Street LLC. The address for the LLC is 5354 S. 27th St in Milwaukee, according to state records, which is the same address as Benny's Cafe.