WAUKESHA, WI-Opus Development Corp. closed the sale on phase II of The Shoppes at Fox River retail center and an adjoining 12.2 acres of land on Sunset Dr. Ramco-Gershenson Properties Trust, based in Farmington Hills, MI, bought the property and land in this Milwaukee suburb from Opus for an undisclosed price.
The second phase of the center broke ground in May at 1200 Sunset Dr., and consists of 47,000 square feet of retail space on six acres. The Shoppes at Fox River is a redevelopment of a former Supervalu distribution facility. In 2010, Ramco-Gershenson bought the 135,560-square-foot first phase of the shopping center, which is 100% leased.
“We have a great relationship with Ramco-Gershenson Properties Trust and are happy to be working with them again,” Julie Ledger, vice president and general manager at Opus, says in a press release.
Opus Development is part of Opus Group, headquartered in Minneapolis.