Jo Ann Fabrics

  • $3.5M
2629 South Green Bay Road, Racine, WI 53406, USA

Jo Ann Fabrics

2629 South Green Bay Road, Racine, WI 53406, USA
  • $3.5M

Sub listings

Title Property Type Price Beds Baths Property Size Availability Date
sqft

Description

Marketing Description
The Boulder Group is pleased to exclusively market for sale a single-tenant retail condo leased to Jo-Ann Fabrics in Racine, Wisconsin. This is a proven market for Jo-Ann Fabrics as this is a relocation site. There are approximately 10 years remaining on the lease and four 5-year renewal options. The 23,371 square foot building is located in a dominant retail corridor in Racine. Racine is 22 miles south of Milwaukee and part of the Milwaukee MSA. There are over 119,000 people living within 5 miles of the property.
The Jo-Ann Fabrics property is ideally located within the Regency Mall. Regency Mall is an enclosed super-regional shopping mall features 110 retail spaces and is anchored by Burlington Coat Factory and Bob’s Discount Furniture. Regency Mall is the fifth-largest shopping center in the Milwaukee region and generates $37 million annually. The Mall is currently undergoing a $7.5 million renovation with interior and exterior renovations as well as new tenant build-outs and proposed co-investment with current tenants. The property is located along S Green Bay Road (33,000 VPD) which connects Racine to Milwaukee and Durand Ave (27,500 VPD) which is a primary east-west thoroughfare that leads to Interstate 41. Retailers in the immediate area include Target, Ross Dress for Less, Walgreens, Pick ‘n Save, Best Buy, Dick’s Sporting Goods, Home Depot, Walmart Supercenter, and Menards. In 2018, Foxconn Technology Group, the world’s largest computer electronics manufacturer and a major supplier for Apple Inc., announced it would bring a $10 billion manufacturing complex in Racine County. Foxconn and government officials have said will be a 22-million-square-foot campus employing as many as 13,000 people. This will bring positive momentum and drive future traffic to the trade corridor.

Investment Highlights
Located within the Milwaukee MSA
Foxconn Technology Group announced it would bring a $10 billion manufacturing complex in Racine County which will bring 13,000 jobs
The proven market for Jo-Ann Fabrics as this is a relocation site
Over 119,000 people living within 5 miles of the property
Approximately 10 years remaining on the lease
Ideally located at Regency Mall (1,404,490 SF and featuring 110 retail spaces)
Retailers in the immediate area include Target, Ross Dress for Less, Walgreens, Pick ‘n Save, Best Buy, Dick’s Sporting Goods, Home Depot, Walmart Supercenter, and Menards
Located along S Green Bay Road (33,000 VPD) which connects Racine to Milwaukee and Durand Ave (27,500 VPD) which is a primary east-west thoroughfare that leads to Interstate 41

Details

Updated on July 21, 2019 at 4:45 am
  • Property ID: 17434
  • Price: $3.5M
  • Property Size: 23371 sqft
  • Property Type: Retail
  • Property Status: For Sale
  • Price Per/Sf: 151.72
  • Tenancy: Single
  • Cap Rate: 7.25%
  • Net Operating Income: 257,081

Additional details

  • Lease Type: NN
  • Lease Expiration: 08/31/2028
  • Remaining Term: 9.1 years
  • Units: 1
  • Address 2629 South Green Bay Road, Racine, WI 53406, USA
  • City Racine
  • State/county Wisconsin
  • Zip/Postal Code 53406

Floor Plans

Description:

Walkscore

Availability Calendar

Schedule a Tour

Your information

What's Nearby?

Education
Christ Church Child Care Center (1.27 mi)
Exceptional 1 reviews
Renaissance School (1.45 mi)
Good 3 reviews
Midwest College of Oriental Medicine (1.51 mi)
Average 2 reviews
Food
Texas Road House (0.01 mi)
Average 19 reviews
Starbucks (0.11 mi)
Good 20 reviews
Coco G's (0.28 mi)
Exceptional 1 reviews
Health & Medical
GNC (0.1 mi)
Poor 2 reviews
LensCrafters (0.13 mi)
Average 3 reviews
Goodrich Thomas MDSC (0.17 mi)
Exceptional 1 reviews
Real Estate
George Seaverns-RE/MAX Experts (36.8 mi)
Exceptional 1 reviews
Debra Kukulski - RE/MAX Suburban (39.83 mi)
Exceptional 3 reviews
MisterHomes Real Estate (41.27 mi)
Exceptional 14 reviews

Contact Information

View Listings
Randy Blankstein
  • Randy Blankstein
  • 847-881-6388

Enquire About This Property

By submitting this form I agree to Terms of Use

Compare listings

Compare
Randy Blankstein
  • Randy Blankstein