News: Front Section
Posted: March 8, 2012
Cushman & Wakefield handles $113.25 million sale of Shops at Wisconsin Place
On behalf of New England Development, Cushman & Wakefield of Mass., Inc. handled the $113.25 million sale of The Shops at Wisconsin Place, the retail component of the mixed-use Wisconsin Place development. Cushman & Wakefield's Capital Markets Group of Robert Griffin, Jr., Geoffrey Millerd and Allen Potts exclusively represented the seller and secured the buyer - TIAA-CREF - in the transaction.
The Shops at Wisconsin Place, located just six miles from the Capitol, totals approximately 118,000 s/f and is 99% leased to 17 tenants. The institutional-quality trophy property is anchored by a Whole Foods Market which opened in 2010. Other tenants include Anthropologie, The Capital Grille, Talbots, P.F. Changs China Bistro and Sephora. The property is shadow-anchored by Bloomingdale's.
The Shops at Wisconsin Place is just one piece of the development that also includes a Class A office tower as well as a luxury apartment component. The Wisconsin Place complex is the result of the redevelopment of eight acres of land that was originally home to Woodward & Lothrop department store and subsequently Hecht's department store.
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