Opus Development Corp. announced that it has sold the second phase of The Shoppes at Fox River shopping center development in Waukesha to Ramco Gershenson Properties Trust.
The deal, which closed Thursday, includes 47,000 square feet of retail space and an adjoining 12.2 acres of land. A sale price was not disclosed.
Tenants in the space sold Thursday include T.J. Maxx, Ulta Salon and Cosmetics, Rue21 and Charming Charlie’s.
The Shoppes at Fox River is located on the north side of Sunset Drive, east of West St. Paul Avenue in Waukesha.
Ramco-Gershenson is a Farmington Hill, Mich.-based real estate investment trust, which purchased the 135,560-square-foot first phase of the Shoppes at Fox River from Opus in 2010. Tenants in the first phase of the development include Pick ‘n Save, Petco, Buffalo Wild Wings, Noodles & Company, Dollar Tree and Famous Footwear. Target, Chili’s and CVS, which were also part of the first phase of the Shopps at Fox River development, own their own buildings and were not purchased by Ramco-Gershenson.
“We have a great relationship with Ramco-Gershenson Properties Trust and are happy to be working with them again,” said Julie Ledger, vice president and general manager at Opus Development Corp. “The success of each of the phases of this development is a testament to the strength of this retail center and the community of Waukesha and led to Ramco-Gershenson’s desire to purchase our latest addition to the development.”
