The developer of the Fresh Thyme Farmers Market in Menomonee Falls has sold the space to an investor for $5.45 million, according to state records.
Colonial Appleton Avenue LLC, an affiliate of Brookfield-based Somerstone LLC, sold the Fresh Thyme to Miller Five LLC of Waukesha. The buyer’s agent in the transaction is Heidi Miller and the LLC is registered to Ken Miller.
Somerstone did not immediately respond to a request for comment on the deal. The buyer could not be reached for comment.
Located at N89 W16849 Appleton Ave., the 29,000-square-foot Fresh Thyme is part of the Colonial Plaza shopping center. Originally built in the 1960s, the 56,000-square-foot shopping center was redeveloped in 2016. Half of it was razed and in its place the Fresh Thyme building was constructed in 2017.
The remainder of the building also received facade improvements as part of the overall redevelopment of the commercial building, according to village documents.
The entire shopping center has an assessed value of $7.94 million, according to Waukesha County records.
In an online listing of the Fresh Thyme, Somerstone noted the grocery store is located near downtown Menomonee Falls and has “excellent visibility and access” from Appleton Avenue, a main commercial corridor in the village.
“Menomonee Falls has a growing residential sector and continues to be a desirable location for both large and small businesses to locate and expand,” according to the listing.
Fresh Thyme began opening stores in Wisconsin in 2016, with its first location being at the North End development in downtown Milwaukee. The Menomonee Falls store opened three years ago.
Somerstone in 2019 submitted a certified survey map with the village to separate the grocery store portion of the shopping center from the other tenant spaces. The village Plan Commission approved the parcel split on a 7-0 vote.
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