JLL Capital Markets has closed the $19 million sale of Pick ‘N Save Center, a 69,749-square-foot fully leased shopping center anchored by Pick ‘N Save in the Milwaukee community of Wauwatosa, Wisconsin.
JLL marketed the property on behalf of the seller, a partnership between Newport Capital Partners and Artemis. JRW Realty facilitated the all-cash acquisition of the net-leased property on behalf of ExchangeRight, a vertically integrated real estate company.
Completed in 2008 and 2012, Pick ‘N Save Center is anchored by Pick ‘N Save, the number-one grocery by market share in Wisconsin and a subsidiary of Kroger. The center comprises three single-story retail buildings that are also home to Mattress Firm, Firehouse Subs and Bubon Orthodontics.
Situated on 5.24 acres at the southwest corner of Interstate 41/45 and Mayfair Road, the center is in Wauwatosa, which is part of the Milwaukee metropolitan area. Pick ‘N Save Center pulls from an extended trade area where 46 percent of customers travel more than three miles to visit the property.
The JLL Retail Capital Markets team that represented the seller was led by Managing Directors Clinton Mitchell and Amy Sands and Director Michael Nieder, along with Senior Managing Director Jaime Fink.