Brookfield Retail for Sale - Brookfield/New Berlin
This offering represents a compelling opportunity to acquire a fee-simple, net-leased retail investment anchored by two nationally recognized tenants operating under long-term, corporate-guaranteed leases. In September 2025, Hobby Lobby extended its lease for a new 10-year term with multiple options to extend, clearly demonstrating its long-term commitment to the location. Both tenants benefit from contractual rent increases every five years throughout the remaining initial term and option periods. The asset is offered at a highly attractive basis, with a price of approximately $134 per square foot and an average rent of $9.26 per square foot per year across both spaces—well below market and replacement cost. Favorable financing options are available and support a projected cash-on-cash return of approximately 6.37%, enhancing overall yield and investment stability.
The property is structured as a NNN lease with minimal landlord responsibilities. Tenants reimburse all common area maintenance, insurance, and real estate taxes, while ownership is responsible only for roof and structural components. This low-management structure makes the investment particularly well suited for passive and out-of-state investors seeking durable income with limited operational exposure.
Strategically located along W. Bluemound Road / U.S. Highway 18, the asset benefits from its position on one of Brookfield’s primary retail corridors, featuring traffic counts in excess of 33,000 vehicles per day. The site also offers excellent regional connectivity via the nearby I-94 interchange, which serves more than 143,000 vehicles daily and provides direct access throughout the Milwaukee metropolitan area. Recent roadway resurfacing and infrastructure upgrades along the Bluemound Road corridor have further improved accessibility, visibility, and long-term functionality for retail tenants.
Tenant performance at the property ranks among the strongest in the market. Placer.ai data indicates Hobby Lobby performs within the top 33 percent of locations in a 15-mile radius, while Dunham Sports ranks as the top-performing store in its trade area. Dunham Sports’ strategic relocation to this site in 2016 from a nearby location underscores the real estate’s superior visibility and long-term viability.
The property is located directly across from Brookfield Lakes Corporate Center, a 158-acre master-planned corporate campus comprising over one million square feet of office and retail space. This significant employment hub provides a strong daytime population and consistent customer base, further reinforcing tenant performance. Surrounding retail amenities exceed 1.09 million square feet and include Brookfield Square Mall, Bluemound Plaza, Brownstones Shopping Center, and a dense lineup of national retailers such as Target, Best Buy, Aldi, Dick’s Sporting Goods, Floor & Decor, PetSmart, Michaels, TJ Maxx, Walgreens, and CVS Pharmacy, creating strong retail synergy and cross-shopping activity.
The Bluemound Road corridor continues to benefit from substantial public and private reinvestment. Planned expansions at The Corners of Brookfield will introduce 278 luxury apartment units and approximately 40,000 square feet of new retail beginning in early 2026, increasing residential density and foot traffic. Additional redevelopment at Brookfield Square and recent renovations at Calhoun Crossing further diversify the area with healthcare, dining, and service-oriented uses, enhancing the corridor’s long-term resilience and consumer draw.
The investment is supported by strong underlying demographics within a five-mile radius, including more than 120,000 residents and over 123,000 employees, with an average household income exceeding $124,500. These fundamentals, combined with long-term leases, strong tenant performance, and ongoing corridor investment, position the asset as a stable, low-risk investment with durable cash flow and long-term appreciation potential.
