On behalf of Next Realty Fund IX, an affiliate of Next Realty, LLC has recently acquired Hillside Terrace Shopping Center, a 17,000 square foot neighborhood shopping center located at 2728 – 2744 Hillside Drive in Delafield, Wisconsin.
The center is fully leased and includes a diverse roster of restaurant, retail and service-oriented tenants. Delafield is an affluent suburb located approximately 25 miles west of Milwaukee. Delafield benefits from high barriers to entry and low retail vacancy of less than 2.5%.
Branko Kuzmanovic, Director of Acquisitions at Next Realty, said the investment presents an opportunity to acquire a stable revenue stream and generate an attractive yield for our investors.
This is the fifth acquisition Next Realty has made over the last decade in the Milwaukee market. The firm owns three other neighborhood shopping centers in Elm Grove, Greenfield and Milwaukee. It previously owned and sold a fourth center in Greenfield.