Press Releases
Marcus & Millichap Brokers $9.7M Sale of 25-Suite Retail Property in Delavan, Wisconsin
January 30, 2025
DELAVAN, Wis., Jan. 30, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Delavan Crossings, a 25-suite retail strip property in Delavan, Wisconsin. The property sold for $9,725,000.
“Our client purchased Delavan Crossings roughly 10 years ago, and it has been a strong-performing asset for them during that time,” said Jeff Rowlett, senior managing director investments. “Consolidation and a desire to exchange into holdings on the East Coast drove them to sell the asset.”
Rowlett, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Ten Patels Realty, based in New York. Adrian Mendoza, Sean Sharko and Austin Weisenbeck from the firm’s Chicago Oak Brook office procured the buyer, a private investor who was not part of a 1031 exchange and secured competitive financing from a credit union lender.
Delavan Crossings features 41,898 square feet of retail space across three buildings at 1741, 1807 and 1823 E. Geneva Street. Built in 2003, the 6.15-acre property is just off Interstate 43 and shadow-anchored by Walmart, Kohl’s and Lowe’s. The buildings are almost fully occupied with a mix of restaurant, retail and service tenants including Starbucks, Dominos, Jersey Mikes, AT&T, Verizon and Great Clips.
“Our client purchased Delavan Crossings roughly 10 years ago, and it has been a strong-performing asset for them during that time,” said Jeff Rowlett, senior managing director investments. “Consolidation and a desire to exchange into holdings on the East Coast drove them to sell the asset.”
Rowlett, investment specialist in Marcus & Millichap’s Milwaukee office, had the exclusive listing to market the property on behalf of the seller, Ten Patels Realty, based in New York. Adrian Mendoza, Sean Sharko and Austin Weisenbeck from the firm’s Chicago Oak Brook office procured the buyer, a private investor who was not part of a 1031 exchange and secured competitive financing from a credit union lender.
Delavan Crossings features 41,898 square feet of retail space across three buildings at 1741, 1807 and 1823 E. Geneva Street. Built in 2003, the 6.15-acre property is just off Interstate 43 and shadow-anchored by Walmart, Kohl’s and Lowe’s. The buildings are almost fully occupied with a mix of restaurant, retail and service tenants including Starbucks, Dominos, Jersey Mikes, AT&T, Verizon and Great Clips.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
