GREEN BAY, Wis. – Hanley Investment Group Real Estate Advisors, a nationally recognized real estate brokerage and advisory firm specializing in retail property sales, announced today that the firm arranged the sale of Green Bay Plaza, a 232,796-square-foot shopping center anchored by T.J. Maxx, HomeGoods and Ross Dress for Less in Green Bay, Wisconsin, for $25,350,000.
Executive Vice Presidents Kevin Fryman and Bill Asher, along with Executive Vice President and Partner Jeff Lefko, in association with ParaSell, Inc., represented the seller, Anenberg Asset Management, a family office focused on direct and co-general partnership real estate investments based in Newport Beach, California. The buyer, Core Acquisitions of Chicago, represented itself. Core Acquisitions is a commercial real estate investment, development and asset management company.
“Investor appetite for well-located shopping centers, leased to national credit tenants, remains robust, driven by the resilience of value-focused retailers and the consistent foot traffic they generate,” said Fryman. “We generated multiple qualified offers from private and mid-market investors based in California and the Midwest, facilitating a competitive best-and-final bidding process that helped maximize value for the seller.”
Fryman noted, “We were able to successfully navigate two tenants filing bankruptcy during the marketing and sales process and achieved strong pricing for a junior-box-anchored center in a small- to midsize geographic market.”
Built in 1960 and expanded in 2003, Green Bay Plaza is 89% occupied and features a dominant lineup of national and regional tenants, including investment-grade retailers such as T.J. Maxx, HomeGoods, Ross Dress for Less, Burlington, Dollar Tree and Sierra. Other tenants include Five Below, Crunch Fitness and Skechers Outlet. The center ranks among the top 9% most trafficked shopping centers in Wisconsin, drawing 2.5 million annual visitors, according to Placer.ai.
Located two miles from Lambeau Field, home of the Green Bay Packers, the property sits on 17.16 acres at a high-traffic intersection at Military Avenue and Mason Street, which sees 40,000 cars per day, and is easily accessible from Interstate 41. It is surrounded by national retailers such as Michaels, Petco, Planet Fitness and Starbucks.
According to Fryman, Green Bay’s retail vacancy rate is a low 2.8%, and the city was recently ranked No. 12 on the list of Best Places to Live in the U.S.
Asher noted, “Green Bay Plaza’s proximity to Lambeau Field, home of the Green Bay Packers, further enhances its appeal as a high-traffic destination. 97% of occupied square footage is leased to national and regional tenants, a testament to strength of the location, which is why demand and interest level in the asset was so high. These types of properties offer compelling long-term fundamentals, including strong tenant performance, limited new supply and insulation from e-commerce disruption.”
About Core Acquisitions
Core Acquisitions is a Chicago-based commercial real estate owner, operator, and developer with more than 2.5 million square feet under management. Since its founding in 2011, the firm has focused on acquiring well-positioned retail properties that present identifiable value-add opportunities through leasing, tenant mix improvement, strategic outlot development, and selective redevelopment. Core’s disciplined investment approach and hands-on operating platform drive long-term NOI growth and generate strong, repeatable results for investors. For more information, please contact Adam Firsel at afirsel@coreacq.com.
About Hanley Investment Group
Hanley Investment Group Real Estate Advisors is a real estate brokerage and advisory services company with a $12.5 billion transaction track record that specializes in the sale of retail properties nationwide. The company’s expertise, proven track record, and dedication to putting clients’ needs first set it apart in the industry. Hanley Investment Group creates value by delivering exceptional results through property‑specific marketing strategies, cutting-edge technology, and local market knowledge. Hanley Investment Group’s relationships with investors, developers, institutions, franchisees, brokers, and 1031 exchange buyers translate into maximum exposure and pricing for each property. With unmatched service and more than 20 years of experience, Hanley Investment Group has redefined the experience of selling retail investment properties.
For more information, visit www.hanleyinvestment.com.
Media Contact
Company Name: Hanley Investment Group Real Estate Advisors
Contact Person: Kevin Fryman, Executive Vice President
Email: Send Email
Phone: 949.585.7674
Address:3500 East Coast Highway, Suite 100
City: Corona del Mar
State: California
Country: United States
Website: https://hanleyinvestmentgroup.com/
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