A 46,056-square-foot multi-tenant retail building in West Bend will be sold in an online auction with a starting bid of $500,000.
The building, located at 840 W. Paradise Drive, was built in 2006, and is attached to Paradise Walk, a 177,319-square-foot shopping center anchored by a Home Depot.
It was originally developed as a single-tenant building for Sportsman’s Warehouse, but has since been adapted for use by multiple tenants. It is currently 56 percent leased to Marshall’s on an initial 10-year term lease expiring in November 2021.
The West Bend retail real estate submarket vacancy rate peaked at 11 percent in 2010 and has trended steadily downward since to its current level of 5.4 percent, according to the property listing.
The property is listed by Long Beach, Calif.-based HTX Realty, Inc. The bidding for the auction will take place from April 18-20 on www.auction.com.
