Strategic Grocery-Anchored Retail Investment in Brookfield, Wisconsin
Brookfield Marketplace is a 90,819-square-foot neighborhood shopping center located at 14800–15100 W. Greenfield Avenue in Brookfield, Wisconsin. Acquired by General Capital in 2014, the six-building retail property was originally constructed in 2006 and expanded in 2010. The center is anchored by a 56,802-square-foot Pick 'n Save grocery store with a drive-through pharmacy, complemented by a freestanding bank, a Panera Bread restaurant, and three multi-tenant retail buildings. Its diverse tenant mix and established grocery anchor provide convenient shopping, dining, and neighborhood services.
General Capital implemented a value-add investment strategy focused on proactive asset management, operational performance, and long-term property value. The center's established tenant base and prominent location along Greenfield Avenue supported its position within Brookfield's competitive retail market. Following eight years of ownership, General Capital sold the property in 2022, achieving a 17.06% gross internal rate of return and a 2.81x gross equity multiple. Net investor returns included a 12.97% internal rate of return and a 2.24x equity multiple, demonstrating disciplined investment execution and successful retail asset management.
Key Themes
- Strategic retail acquisition targeting long-term value through active asset management.
- Grocery-anchored shopping center providing essential retail and neighborhood services.
- Diversified tenant mix combining grocery, banking, dining, and specialty retail.
- Established Brookfield location offering convenient access along Greenfield Avenue.
- Disciplined investment strategy positioning the asset for a successful disposition.
Results
- 90,819 SF retail center acquired in 2014.
- Six commercial buildings anchored by a 56,802 SF Pick 'n Save.
- 17.06% gross IRR and 2.81x gross equity multiple achieved.
- 12.97% net IRR and 2.24x net equity multiple delivered.
- Successful 2022 disposition completed following eight years of ownership.