Media Contact: Elizabeth Hummitzsch
MILWAUKEE (Dec. 14, 2012) – Opus Development Corporation announced today the sale of phase II of The Shoppes at Fox River retail center as well as an adjoining 12.2 acres of land in Waukesha, Wis., to Ramco Gershenson Properties Trust for an undisclosed sum. The sale closing occurred on Dec. 13, 2012.
The Shoppes at Fox River phase II broke ground in May 2012 and totals more than 47,000 square feet of retail space spanning six acres. Tenants include T.J. Maxx, Ulta Salon and Cosmetics, rue21 and Charming Charlie’s. Ramco has a vested interest in this property after purchasing the 273,000-square-foot first phase of this retail shopping center, which is 100 percent leased with retail, service and lifestyle tenants, from Opus in December 2010.
“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 Corporation. “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.”
The Shoppes at Fox River is a redevelopment of a former Supervalu distribution facility located along Sunset Drive in southwest 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.
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.