2350 E Mason St
Green Bay, WI 54302
Retail Property For Sale

JLL is pleased to offer for sale the fee-simple interest in a two-tenant net lease retail property (the “Property” or “Asset”) located in Green Bay, WI. The Property is 100% leased to market leading retailers Hobby Lobby and Petco, and is adjacent to a recently renovated retail center, anchored by investment grade credit tenants Ross and Marshalls. This is a rare opportunity to acquire a fully leased retail asset in a growing and desirable market located in a vibrant retail corridor. The Asset is a part of a larger shopping center identified as East Town. The center is located at the focal point of Green Bay’s most densely developed residential areas. The center previously included approximately 142,000 SF of interior space in between Kohl’s, Hobby Lobby and Petco, while the anchors remain, a redevelopment is currently ongoing to convert the former interior space to 1-2 large box and multiple junior box space of in-line retail. The continued development of the center will reinforce the property as a desirable asset for investors. The Asset offers exceptional value through its infill location, substantial residential growth, a rare underserved retail market, and low average in-place rents. Average market rents in this retail submarket are approximately $10.61 PSF, compared to the average in-place rents of $4.55 PSF at the center. These low rents and proven long-term tenants add security to this investment. Investors are attracted to this particular market due to its consumer draw from all of Green Bay and those traveling through the town. Its convenient location between two major highways that bisects the area’s residential development, makes this location the ideal place for Green Bay shoppers. Historically low retail vacancies (3.1%), long-term tenants, and the tight local retail market create a secure and desirable investment.