Opus Development Corp.: Announces final tenant for PHASE I of Shoppes at Fox River
Media Contact: Natalie Emmer
Addition of Hallmark Gold Crown makes first phase of Waukesha retail development 100 percent leased
MILWAUKEE – The Milwaukee office of Opus Development Corporation (Opus) announced today that Hallmark Gold Crown will occupy the final space of its Shoppes at Fox River Phase I retail development in Waukesha. The addition of the national greeting card retailer makes the 273,000 square-foot Phase I 100 percent occupied, including a 132,000 square-foot Target, and a 60,000 square-foot LEED-Silver certified Pick ‘n Save grocery store.
“This project broke ground in the midst of the economic downturn, and still has attracted such a varied selection of high quality, national retailers for both phases of the Shoppes at Fox development,” said Julie Ledger, vice president and general manager of Opus. “Having the first phase 100 percent leased is a testament to the quality of the development and strength of the market, and will help to continue to drive interest from other major retailers for the second phase.”
Construction for Phase I of The Shoppes at Fox River started in May 2009, with final construction completed in September 2010. Opus sold Phase I to Ramco-Gershenson Properties Trust at the end of 2010, but remained responsible for securing tenancy. In addition to Hallmark, since the sale, Opus has secured The Cash Store, Associated Bank, and Orange Leaf Frozen Yogurt.
The second phase of the development broke ground earlier this month. When fully built-out, Phase II has potential to total 150,000 square feet. The first development in Phase II will include more than 47,000 square feet of retail space on six of the approximately 18 acres of developable land adjacent to the existing Phase I buildings. The first Phase II development will include T.J. Maxx, Ulta Salon and Cosmetics, Rue 21 and Charming Charlie’s. The building will be located in the northeast corner of the site, adjacent to the Pick ‘n Save.
The Shoppes at Fox River is a redevelopment of a former Supervalu distribution facility located along Sunset Drive on the far Southwest side of Waukesha. In addition to Target and Pick ‘n Save, the first phase of the development includes: Batteries Plus, Klinke Cleaners, Petco, Buffalo Wild Wings, Gamestop, Noodles & Company, CVS Pharmacy, Verizon Wireless, Chili’s Bar & Grill, Mattress Firm, Men’s Hair House, The Dollar Tree, Associated Bank, Orange Leaf, Jersey Mike’s, Cash Store, Subway, GNC, Famous Footwear, Maurice’s and Get It Now.
Opus Development Corporation is one of the region’s leading full-service real estate development and design-build firms. In addition to Waukesha’s Shoppes at Fox River, recent notable projects completed by the Milwaukee office include the Honey Creek Corporate Center, multiple buildings at Marquette University, including the new law school and College of Engineering, Northwestern Mutual’s Franklin Campus and Oakwood Crossing Business Center in Oak Creek.
About The Opus Group
The Opus Group® is a family of national commercial real estate companies headquartered in Minneapolis, with expertise in development, project management and construction, architecture and engineering, finance, sales and leasing. The Opus Group includes Opus Holding, L.L.C. and Opus Holding, Inc. and their operating subsidiaries, Opus Development Corporation, Opus Design Build, L.L.C. and Opus AE Group, Inc. Specializing in office, industrial, retail, residential living, institutional and government projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit http://www.opus-group.com.