Home Industries Real Estate Featured Deal: Shopping center portfolio deal

Featured Deal: Shopping center portfolio deal

By
Hunter Turpin
-
West Allis Towne Center Credit: LoopNet
West Allis Towne Center Credit: LoopNet

Two shopping centers in Delafield and West Allis were sold for a combined $58.9 million in a deal between two New York real estate investors. Included in the deal is five buildings at Nagawaukee Center just north of I-94 in Delafield, which have a total of 220,000 square feet of space and house several retailers

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Hunter Turpin
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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Two shopping centers in Delafield and West Allis were sold for a combined $58.9 million in a deal between two New York real estate investors. Included in the deal is five buildings at Nagawaukee Center just north of I-94 in Delafield, which have a total of 220,000 square feet of space and house several retailers including HomeGoods, Kohl’s and Marshalls. That property sold for $36.9 million. The 326,000-square-foot West Allis Towne Center, at Greenfield Avenue and 70th Street, was priced at $22 million in the deal and includes Hobby Lobby, Burlington and Ross Dress for Less stores. Those two properties were among eight that KPR Centers of New York City bought in a portfolio deal for $180 million. This marks the second time recently that the ownership of those properties changed. At the start of this year, Kimco Realty Corp. acquired RPT Realty, before selling the Delafield and West Allis properties to KPR Centers.

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