{"id":1004758409,"date":"2025-05-20T07:00:30","date_gmt":"2025-05-20T15:00:30","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004758409"},"modified":"2025-05-20T07:05:57","modified_gmt":"2025-05-20T15:05:57","slug":"octave-holdings-enters-wisconsin","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/","title":{"rendered":"Octave Holdings Enters Wisconsin"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"2183\" height=\"1638\" data-attachment-id=\"1004758410\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/west-allis-overview\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\" data-orig-size=\"2183,1638\" 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=\"west-allis-overview\" data-image-description=\"&lt;p&gt;West Allis Towne Centre. Image courtesy of Octave Holdings and Investments&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;West Allis Towne Centre. Image courtesy of Octave Holdings and Investments&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\" alt=\"aerial image of West Allis Towne Centre\" class=\"wp-image-1004758410\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">West Allis Towne Centre underwent a cosmetic renovation in 2011. <em>Image courtesy of Octave Holdings and Investments<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Octave Holdings and Investments has paid $30.7 million for West Allis Towne Centre, a 325,309-square-foot power center in West Allis, Wis. KPR Centers sold the asset one year after having acquired it for $22 million from Kimco Realty, according to CommercialEdge data.<\/p>\n\n\n\n<p>The transaction represents the company\u2019s first purchase through its newly launched Octave Realty Fund X LLC and also its first Wisconsin foray. KeyBank provided a $20.7 million loan for the acquisition, the same source shows.<\/p>\n\n\n\n<p>Located at 6702 W. Greenfield Ave., West Allis Towne Centre was 95 percent leased at the time of sale. Anchored by Pan Asia, the shopping center features a diverse mix of regional and national retailers such as Hobby Lobby, Burlington, Planet Fitness, Ross Dress for Less and Five Below.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/why-investors-are-hungry-for-grocery-anchored-retail\/\">Why Investors Are Hungry for Grocery-Anchored Retail<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Completed in 1987, the retail asset encompasses four buildings spread on some 22 acres. The power center underwent a cosmetic renovation back in 2011. Pinnacle Leasing and Management\u2014a wholly owned subsidiary of Octave\u2014will manage the property going forward.<\/p>\n\n\n\n<p>The shopping center serves more than 73,000 residents within a 2-mile radius, with the average household income of approximately $85,000, according to Octave. The property is near Interstate 94, in an area where the daily traffic count reaches more than 150,000 vehicles. Downtown Milwaukee is some 7 miles away.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-milwaukee-s-retail-sector-slows-down\">Milwaukee\u2019s retail sector slows down<\/h2>\n\n\n\n<p>Milwaukee\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/retail-market-trends\/\">retail market trends<\/a> indicated a slowdown in the first quarter of this year, according to a recent Cushman &amp; Wakefield report. On the investment side, activity was limited as many buyers and sellers continued to take a cautious approach.<\/p>\n\n\n\n<p>The metro recorded 172,527 square feet of negative absorption  pushing the vacancy rate up 50 basis points year-over-year to 7.4 percent. Asking rents fell 3.1 percent quarter-over-quarter to $13.64 per square foot, as availability of Class A space remained limited.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The firm acquired a power center near Milwaukee.<\/p>\n","protected":false},"author":3014,"featured_media":1004758410,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,13,21742,21749],"tags":[32937,34368,52150],"class_list":["post-1004758409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-midwest","category-latest","category-retail","tag-keybank","tag-kimco-realty-corporation","tag-kpr-centers"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Octave Holdings Enters Wisconsin - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Octave Holdings and Investments purchased West Allis Towne Centre, a power center in West Allis, Wis., near Milwaukee.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Octave Holdings Enters Wisconsin\" \/>\n<meta property=\"og:description\" content=\"Octave Holdings and Investments purchased West Allis Towne Centre, a power center in West Allis, Wis., near Milwaukee.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T15:00:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-20T15:05:57+00:00\" \/>\n<meta name=\"author\" content=\"Diana Firtea\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/\",\"name\":\"Octave Holdings Enters Wisconsin - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\",\"datePublished\":\"2025-05-20T15:00:30+00:00\",\"dateModified\":\"2025-05-20T15:05:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/a0c04b9de1387474e28c9ebdb0444e59\"},\"description\":\"Octave Holdings and Investments purchased West Allis Towne Centre, a power center in West Allis, Wis., near Milwaukee.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/octave-holdings-enters-wisconsin\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/west-allis-overview-e1747661731206.jpeg\",\"width\":2183,\"height\":1638,\"caption\":\"West Allis Towne Centre. 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