Home Industries Real Estate West Allis retail center sells for $22 million

West Allis retail center sells for $22 million

West Allis Towne Center

The West Allis Towne Center shopping center was sold to a New York City-based investment firm for $22 million, according to state records. The 23-acre retail center, with tenants including Hobby Lobby, Burlington, Dollar Tree and Party City, among others, is located northeast of West Greenfield Avenue and South 70th Street. State records show that

Already a subscriber? Log in

To continue reading this article ...

Subscribe to BizTimes today and get immediate access to our Insider-only content and much more.

Learn More and Subscribe Now
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.
The West Allis Towne Center shopping center was sold to a New York City-based investment firm for $22 million, according to state records. The 23-acre retail center, with tenants including Hobby Lobby, Burlington, Dollar Tree and Party City, among others, is located northeast of West Greenfield Avenue and South 70th Street. State records show that an affiliate of Jericho, New York-based Kimco Realty sold the property to an affiliate of New York City-based KPR Centers. KPR Centers, which has properties throughout the East Coast and Illinois, primarily acquires retail and industrial properties. According to the firm's website, it usually only acquires properties larger than 75,000 square feet with a price of $25 million or more. West Allis Towne Center, with 25 storefronts currently, has 326,000 square feet of space, according to marketing materials for the property. It was built in 1987 and renovated in 2011.

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.
Exit mobile version