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Next Realty makes fifth Milwaukee-area acquisition

An affiliate of Next Realty, LLC has acquired Hillside Terrace Shopping Center, a 17,000-square-foot neighborhood shopping center at 2728 – 2744 Hillside Drive in Delafield, Wisconsin.

The purchase price for Hillside Terrace Shopping Center, the seventh acquisition for Next Realty Fund IX, LP, a fully diversified investment vehicle, was not disclosed.

The property is now fully leased by a diverse roster of restaurant, retail and service-oriented tenants.

Delafield is an affluent suburb located about 25 miles west of Milwaukee. The property is within close proximity to Walmart Supercenter, The Home Depot, Marcus Hillside Cinema and Target. Delafield benefits from high barriers to entry and low retail vacancy of less than 2.5 percent.

For the past decade, Next Realty has been investing in the Milwaukee market. The company currently owns three other neighborhood shopping centers in Elm Grove, Greenfield and Milwaukee and previously owned a fourth center in Greenfield.