{"id":1004201021,"date":"2017-12-18T07:37:06","date_gmt":"2017-12-18T15:37:06","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004201021"},"modified":"2022-12-08T17:03:57","modified_gmt":"2022-12-09T01:03:57","slug":"baceline-acquires-madison-shopping-center-for-3m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-madison-shopping-center-for-3m\/","title":{"rendered":"Baceline Acquires Madison Shopping Center for $3M"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004201024\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004201024\" data-attachment-id=\"1004201024\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-madison-shopping-center-for-3m\/meadowood-retail-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Meadowood Retail Center\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Meadowood Retail Center&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png?w=800\" loading=\"lazy\" class=\"wp-image-1004201024 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png\" alt=\"Meadowood Retail Center\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Meadowood-Retail-Center.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004201024\" class=\"wp-caption-text\">Meadowood Retail Center, Madison, Wis.<\/p><\/div>\n<p>Baceline Investments has acquired a shopping center in the Meadowood neighborhood of Madison, Wis. The company purchased the property from MLG Capital for $3.3 million. In early 2005, MLG bought the property from Midland Realty Inc. for $4 million, according to public records from the city of Madison.<\/p>\n<p>Located at 5750 Raymond Road, the 45,319-square-foot Meadowood Retail Center sits on 3.5 acres. Built in phases between 1964 and 1995, the shopping center was remodeled in 2007, and sits adjacent to bus stops served by five local Metro Transit routes. The building is about one mile south of the Beltline Highway and less than one mile from U.S. Highway 151.<\/p>\n<h2>Community-focused tenant mix<\/h2>\n<p>The property is 90 percent leased, with many of the tenants being long-term and community focused, such as Old National Bank, Madison Community Center and the Madison Library. Other tenants at the property include a laundromat and two restaurants. A Walgreen\u2019s store on the eastern side of the shopping center is owned by a separate entity and was not included in the transaction.<\/p>\n<p><em>\u201cMeadowood is in a great community that aligns very well with our income-driven strategy of real estate investment,\u201d<\/em> said David Puchi, managing partner\u00a0at Baceline, in a prepared statement. <em>\u201cOur focus is to seek out and identify internet-resistant, neighborhood shopping centers that will expand our portfolio and produce reliable income, and present a significant opportunity for growth.\u201d<\/em><\/p>\n<p>This fall, Baceline acquired two other <a href=\"https:\/\/www.commercialsearch.com\/news\/baceline-acquires-2-shopping-assets-for-12m\/\">community shopping centers<\/a> in North Carolina and Minnesota for $12 million.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>MLG Capital sold the 45,000-square-foot retail building, which is 90 percent leased, primarily to long-term, community-focused tenants.<\/p>\n","protected":false},"author":861,"featured_media":1004201024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,13,21742,21749],"tags":[37812,38634,37712],"class_list":["post-1004201021","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midwest","category-latest","category-retail","tag-baceline-investments","tag-david-puchi","tag-mlg-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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