Chase Properties Acquires Open-Air Wisconsin Retail with Immediate Upside

Chase Properties, a Beachwood, OH-based owner and operator of shopping centers, has acquired Pine Tree Plaza, an open-air shopping center located in Janesville, WI. The purchase price wasn’t disclosed. Ben Snyder and Zack Bates of Matthews Real Estate Investment Services brokered the deal. 

Pine Tree Plaza is a 184,834-square-foot shopping center anchored by TJ Maxx, HomeGoods, Michaels, Old Navy, and Petco. It’s situated in the middle of the area’s retail trade corridor, with visibility from I-90/39. At acquisition, Pine Tree Plaza was 82% occupied. 

Pine Tree Plaza marks Chase Properties’ sixth acquisition in its Retail Opportunities Fund IV. Andy Kline, Chase Properties’ co-CEO, said, “In this challenging economic and transaction environment, we are very pleased to have been able to execute on this exciting acquisition. Pine Tree Plaza represents an opportunity for us to acquire a strong shopping center with immediate upside.” 

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