WalMart Center in Delafield was purchased by an Illinois investment group for $11.4 million.
The 102,700-square-foot multi-tenant shopping center, located at 2720-2850 Heritage Drive and 2725 Hillside Drive, just below the Walmart store at the intersection of Interstate 94 and Highway 83 has been managed by Evanston, Ill.-based Schermerhorn Commercial Real Estate for 18 years.
Associated Bank has finalized a loan for Schermerhorn & Co./Heritage-Hillside, LLC to purchase the property.
The center is 90 percent leased. Major tenants include: Office Max, Petco, Dollar Tree, Great Clips, Sears Appliance, Subway and Dairy Queen.
The purchase does not include the building occupied by Walmart.
Schermerhorn & Co manages approximately 100 multi-family rental and community associations in addition to commercial properties that include office buildings, retail shopping facilities and mixed-use properties.
