Delafield, WI (PRWEB) May 06, 2016
Downtown properties on Milwaukee, Wells, and Genesse were recently sold to Beloit, Wisconsin-based Hendricks Commercial Properties (Hendricks). Hendricks purchased a total of 12 separate buildings totaling over 148,000 square feet in downtown Delafield for investment and its future expansion in the area. The properties are currently home to several popular businesses including Clear Water Outdoors, Wheel & Sprocket, Rocky Mountain Chocolate Factory, Revere's Wells Street Tavern, Great Harvest Bread Company and Milwaukee Street Traders Coffee Shop.
“Our Purchase of these iconic buildings aligns with our strategic plan to invest in high-quality, Class A real estate. We feel there is a tremendous opportunity to build on the downtown area with additional high end retailers, restaurants, companies and to be a part of this great environment in Lake Country," said Rob Gerbitz, CEO of Hendricks Commercial Properties.
Hendricks is committed to playing an important role in the city’s future and to further position the downtown and its local businesses as the premier destination in all of Lake Country. Given that Hendricks has a strong familiarity with the buildings and the Delafield market, Hendricks is in a great position to grow and build on Delafield’s premier location and their most prominent and iconic buildings.
“We were very excited to be a part of the community with our purchase of The Delafield Hotel last year as well as be Fitness earlier this year. We are absolutely committed to keeping these great buildings and their integrity intact. We also understand that we have a responsibility to our tenants to build and maintain high standards so the residents, the businesses and entrepreneurs that are the lifeblood of the downtown Delafield economy, can prosper beyond their wildest dreams," Gerbitz stated.
These Delafield properties are located in prime locations and the new owners anticipate updates and improvements to the properties that will begin later this summer. More information on their downtown development plans will be released as they become available.
About Hendricks Commercial Properties
For more than 30 years, Hendricks Commercial Properties (HCP) of Beloit, Wis. has worked with clients to transform their commercial real estate visions into realities. Established to help communities and small businesses thrive by their commitment to helping retailers flourish and serving as an active partner in communities in which they have property. HCP offers the full spectrum of real estate development needs, including site selection, licensing and permitting, property acquisition, due diligence, construction management and financing. HCP manages and owns more than 12 million square feet of real estate property in 34 states.