Baceline Investments, LLC acquired two retail centers located in the North Shore of Milwaukee for a total of $2.8 million.
Point Plaza is a 13,840-square-foot shopping center situated along Appleton Ave. in northwest Milwaukee at 8333 W. Appleton Ave. Baceline purchased the property from R&D Point Plaza, LLC for $900,000.
Glendale Square consists of 17,880-square-feet, and is a multi-tenant retail center in the heart of Glendale, at the corner of N. Green Bay Ave. and W. Green Tree Road. Baceline purchased Glendale Square for $1.9 million from Buckmann, LLC. Both sellers are Wisconsin-based companies.
Combined, the properties are currently 86 percent occupied. Point Plaza and Glendale Square become the third and fourth in Baceline’s High Yield Income Fund portfolio, joining MLK Plaza in St. Louis and Clinton (Utah) Towne Center. Baceline’s High Yield Income fund opened for investment in early 2016.
“Baceline is excited to bring two high-quality Milwaukee-based retail shopping centers into our High Yield Income Fund portfolio,” said David Puchi, Baceline’s managing partner. “Both are located in high-traffic corridors in densely populated communities and have a history of attracting strong tenants. Point Plaza and Glendale Square will be great additions to the fund as cash-flowing, well-located properties in favorably priced markets, all key factors in our operational strategy.”
Baceline’s High Yield Income Fund focuses on holdings in the country’s midsection and is designed to benefit investors who seek to earn consistent and higher levels of distributable income from their investment portfolio.
Founded in 2003, Baceline Investments, LLC is a Denver-based, privately held boutique real estate investment and management company that specializes in the acquisition, management, and sale of cash-flowing, necessity-based neighborhood shopping centers located in select secondary markets across America's Heartland.