[caption id="attachment_506672" align="alignright" width="250"]
Milwaukee-based ICAP Development
announced it has added J.J. Alaily
as a partner.
Alaily has a background in developing retail real estate projects in Wisconsin and Illinois. He created Form Development
in 2010, with a focus on retail development.
He has completed ground-up and redevelopment projects for regional and national retailers including JoAnn Fabrics, TJ Maxx, Staples, Xperience Fitness, Family Dollar, Dollar Tree, Sherwin Williams, Starbucks, US Cellular, DaVita and North Shore Bank. He has partnered with ICAP on projects over the last decade.
Alaily said his Milwaukee-area projects include the redevelopment of the former Save A Lot shopping center on the northwest corner of West College Avenue and 27th Street in Greenfield. The shopping center now has tenants such as Xperience Fitness and Dollar Tree.
He said he also partnered with ICAP on the development of a shopping center in Glendale
that includes Aldi, Associated Bank, Sherwin Williams and Starbucks as tenants.
Alaily said he joined ICAP after years as a solo developer because of the opportunities for collaboration, similar visions of the real estate market and the diverse markets ICAP develops and invests in, including industrial, medical and housing in addition to retail.
"J.J. and I have collaborated on real estate projects for the last 10 years," Brian Adamson, managing principal of ICAP, said in a statement. "After many successful joint ventures together, I am very excited to formalize this partnership and welcome J.J. as a partner in ICAP Development."
ICAP is a full-service real estate development firm formed in 2013. Over the last seven years, it has completed more than 30 projects in nine states and has a portfolio of 22 properties with a combined value of $135 million.
Its $135 million project list includes single- and multi-tenant retail, medical office, multi-family, industrial, student housing and hotel developments.