Northmarq Announces Sale of BMO Harris Bank Branch in Kenosha, Wisconsin


Northmarq, one of commercial real estate’s leading investment sales brokerage firms, has completed the sale of a BMO Harris Bank located at 7535 Pershing Boulevard in Kenosha, Wisconsin. The 4,755-square-foot retail bank branch sold for approximately $2.2 million reflecting a 4.75 percent cap rate. Asher Wenig of Northmarq represented the seller, a private investor based in New York. The property was acquired by a California-based individual investor, and both parties executed 1031 exchanges.

“The lease features a 1.0 percent + CPI annual increase structure, making this asset a highly sought-after investment opportunity, and it’s why it traded at a good 100 basis points below the average BMO Harris net lease bank,” said Wenig, Senior Director and Partner in Northmarq’s New York office. “It’s a changing retail bank market, but strong locations with drive-thru windows along heavily trafficked thoroughfares continue to garner top dollar in the net lease space.”

The property was originally built in 1969 on a 1.0-acre corner lot. The property features outstanding ingress and egress, with three drive-thru lanes and a stand-alone ATM. At the time of sale, there were more than 12.5 years of lease term remaining.

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About Northmarq:

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes. To learn more about Northmarq, please visit: