Bellevue Town Center offers investors the opportunity to acquire a fully leased, grocery-anchored neighborhood center with durable in-place income and embedded NOI growth in an established retail corridor in Green Bay, WI. The Property is anchored by Pick ‘n Save, a Kroger-affiliated grocer with an approximately 24-year operating history at the center. The tenant is finalizing a 10-year lease extension through 2036, reinforcing long-term income stability and continued anchor tenancy. The Center benefits from below-market in-place shop rents, averaging $23.57 PSF compared to approximately $27.00 PSF for comparable product, providing a clear path to organic NOI growth through lease rollover. This mark-to-market opportunity is supported by strong corridor fundamentals, national co-tenancy, and consistent consumer traffic.
Strategically positioned along Monroe Road and Lime Kiln Road, a dominant retail spine in the Green Bay market, the Property benefits from approximately 29,700 vehicles per day and is shadow-anchored by Target (1.6M annual visits) and within close proximity to Costco (2.7M annual visits), driving sustained customer flow and tenant demand.
The offering combines stable, grocery-anchored cash flow, defensible tenancy, and measurable rent upside, supported by ongoing retail and employment growth within the surrounding trade area.