North Town | Town of Sheboygan

Written By Dane Checolinski

Location: Northeast of State Highway 42 and N. 40th St. (Dairyland Dr.) in Town of Sheboygan, Sheboygan County | Google Map
Listing Sheet: Download here
Summary: Seeking retail, commercial and office for a new master-planned mixed-use community located in the Town of Sheboygan. A range of leasing opportunities is available, encompassing retail, office, commercial, and recreational spaces spanning from 1,000 to 120,000 square feet. The development features a central 3+ acre green town square, surrounded by four-story mixed-use buildings.

The community plan includes the provision of over 600 housing units, comprising townhouses, pocket homes, and apartments. Van Horn Real Estate, the local developer, is dedicated to upholding stringent design criteria and architectural guidelines, ensuring the creation of a high-caliber community. The development plan remains adaptable, welcoming modifications to cater to the specific needs of tenants. Custom build-to-suit options are actively encouraged.

Lease rates will vary between $18 and $21 per SF Gross + Utilities for white box mix-use retail and retail pad sites between $30 and $40/SF NNN. Office and mid-box sites are also available with pricing for office around $25-$30/SF NNN. The first phase of construction commenced in 2023, with the first available spaces anticipated in October 2024. Inquiries are warmly welcomed.
Quality Development: Local developer committed to adhering to design criteria and architectural guidelines to forge a high caliber community focusing on market and market plus customers.

Current Development Plan (Site concept plan):

  • Development plan is fluid as modifications are welcomed to suit tenants’ needs

  • Over 300,000 SF of additional retail, office and commercial space

    • Some space will have I-43 visibility

  • 3.3 acre new green town square

    • Encompassed by several four story mixed-use buildings

    • Up to 70,000 SF of retail facing town square

  • Several retail pad sites and mid-box pad

  • Several larger office / commercial sites

  • 620 housing units

    • 5 | 4 to 5-story mixed-use buildings

      • retail / commercial on 1st floor near town square

      • 84+ apartment units

      • underground parking

    • 1 | 40-unit apartment

    • 80 | townhomes

    • 80 | pocket homes

  • Recreational amenities for residents

Parking: 1,605 planned parking spaces in mixed-use area

  • 1058 surface parking (for commercial tenants)

  • 547 interior parking (parking garages)

Development Progress (January 2024): Several phase in construction (See map here)

  • What is currently under construction?

    • 90-unit Home 2 Suits Hotel (Spring 2024 opening)

    • 2 mixed-use buildings (Fall 2024 opening)

      • 170 apartments

      • ~17,000 SF retail space around new Town Square (1,000 SF Divisible)

        • 100% occupied by Rise Fitness & Golf 365

  • 2024 construction start

    • ~70 condo / town home units

    • Assisted living facility

    • 3.3 Acre town park is under planning/engineering

Zoning: Planned Unit Development (PUD)

Traffic Counts

  • Interstate 43 | 33,000 AADT

  • State Highway 42 | 11,600 AADT

  • N. 40th St | 5,800 AADT

    • Road to be expanded to 3 lane + traffic control into the development in 2023.

Primary Retail Trade Area Map (Placier.ai, 2024)

Primary Retail Trade Market (See fact sheet & Trade Area Demographic Trends)

  • Last 12 Month Visits: 1.1 Million

  • Population: 113,280 (4% growth in 3 years)

  • Median Age: 38

  • Household Average Income: $67,126 (9% growth in 3 years)

Known Retail Gap Opportunities in Primary Market

*Data from Placer.AI (more available upon request)

Nearby Amenities:

  • Retailers: Walmart, Menards, American Freight Furniture & Mattress, Miesfeld’s Meat Market, Wigwam Socks Outlet Store, Kwik Trip

  • Restaurants: Texas Roadhouse, Culver’s, Hardee’s, Shuff’s Last Resort, Harry’s Diner, Olive Garden

  • Schools/Daycare: Lincoln-Erdman Elementary, Lake Country Academy, Big Steps Little Feed Child Care

  • Amenities: Town of Sheboygan Senior Center, Maywood/Evergreen Parks, Whistling Straits Golf Course

Pricing:

  • Whitebox, new construction in 4-story mixed use buildings

    • Inline retail between $15/SF and $20/SF NNN (in 4-story buildings)

    • ~60’ deep

    • 11’ clear ceilings

  • Build to suit retain buildings along N. 40th.

    • Retail/office spaces starting from $35/SF to $40/SF NNN

  • Ground-leases between $0.58/SF to $1.15/SF

Developer: Van Horn Real Estate
Municipality: Town of Sheboygan
Media Coverage

Commercial Leasing Agents with NAI Pfefferle:

Dane Checolinski | 920-344-8732
Teresa Knuth | 920-427-9473

Dane Checolinski
Previous

2022 Market Update
Next

2021 Sheboygan / Manitowoc Real Estate Report