LOS ANGELES (November 25, 2025) – Marquee Capital, a Milwaukee-based real estate investment firm, and Belay Investment Group, announced the acquisition of Nagawaukee Center, a 220,000-square-foot regional shopping center in Delafield, Wisconsin. The purchase marks the second acquisition for the firms’ $70 million programmatic joint venture, which targets anchored retail centers across the Midwest.
Strategically located along I-94 just west of Milwaukee, Nagawaukee Shopping Center is shadow anchored by Albrecht’s Sentry Foods with a lineup of national retailers including Kohl’s, Marshalls, HomeGoods, Sierra Trading Post, Applebee’s, and Verizon. The center is 100% leased and is among the most trafficked shopping centers in the Milwaukee market.
“Nagawaukee Shopping Center represents the kind of high-performing, necessity-based retail we and Belay are targeting,” said Jay Peirick, President of Marquee Capital. “Delafield’s strong demographics, established tenant mix, and excellent visibility along I-94 create a compelling investment opportunity.”
“The Nagawaukee Shopping Center’s stable rent roll anchored by high quality national tenants, and strong location in a supply constrained, high-traffic submarket are illustrative of the broader investment thesis of Belay’s programmatic partnership with Marquee focused on anchored retail. We look forward to continuing to expand our Midwestern anchored retail portfolio with Marquee through well-priced strategic acquisitions like this” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.
Marquee and Belay will continue to pursue institutional-quality neighborhood and power centers anchored by high-traffic grocers or big-box retailers in thriving suburban markets across the Midwest. The partnership targets assets with value-add potential, including opportunities to improve performance through strategic leasing, physical upgrades and site optimization.
About Marquee Capital
Founded in 2008, Marquee Capital is a fully integrated real estate investment and asset management platform which leverages its in-house leasing, accounting, property management, and construction management teams to maximize value at the property level. Marquee is committed to excellence and strategic growth, using its team’s expertise in real estate investment and operations to create value for investors while contributing to the communities they serve. The firm currently manages over 2.9 million square feet of anchored retail strip centers across the Midwest, maintaining a top-tier collection of national and regional retail tenants and a portfolio-wide occupancy rate of over 90%. For more information visit www.marqueecapital.com.
About Belay Investment Group
Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities. Visit www.belayinvestmentgroup.com for more information.