Massive Retail Destination Planned for 23 Acres Near IKEA Site in Oak Creek

OAK CREEK -- In early November, the Milwaukee Biz Times reported that Brookfield-based developer Somerstone LLC received approval from a judge to purchase 23 acres of land across Interstate 94 from Ikea’s future home in Oak Creek for $4.4 million from a court-appointed receiver.

Today we learned that Somerstone LLC is planning a massive retail center for the property, including plans for a "destination" quality retail shopping center with a big box store.

According to a report from the Milwaukee Business Journal, John Somerstone, principal for Somerstone LLC spoke to the business publication in their exclusive story. Somerstone said he envisions a retail-only use and is seeking national or regional stores.

The Business Journal is reporting that Somerstone has hired Mid-America Real Estate – Wisconsin LLC to market the site. The two development concepts currently are either a big-box store, or an open-air shopping center with multiple retailers. A groundbreaking in late 2017 or spring 2018 has been suggested.

Read more details here: http://www.bizjournals.com/mil...

The Biz Times is reported that Somerstone was the only buyer to come forward with a bid on the property.

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image: ikea