June 3, 2022 – West Bend, WI – The building at 840 W. Paradise Drive in West Bend, WI has sold. To be CLEAR – the BUILDING sold and NOT the business inside the building.
The sale of the parcel occurred May 24, 2022. The property was purchased for $2,275,000 by Agree Limited Partnership, a real estate investment trust.
The parcel is currently assessed at $2,254,800.
The retail outlet, Marshalls, leases 26,000-square-feet of space and the store manager said they are “aware of the sale” and they “are staying.” Marshalls opened in West Bend on Nov. 10, 2011.
On a history note, do you remember what was previously in that location?
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On a history note: That property had been assessed at $2.4 million however the assessment was reduced in 2020.
The previous owner was West Bend Investment and Capital LLC. It bought the property in 2016 and paid $1.350 million, in what could appear as a distress sale.
If you do the math, they saw about a 68% increase in the lot or 11% per year. Not a bad investment.