JLL Capital Markets announced today that it has closed the $15.15 million sale of Whitnall Square, a 133,421-square-foot shopping center anchored by Pick ‘N Save in the Milwaukee-area community of Saint Francis, Wisconsin.
JLL represented the seller, Newport Capital Partners, and procured the buyer, Savitar Realty Advisors.
Constructed between 1989 and 1991, Whitnall Square is anchored by a high-performing Pick ‘N Save, the largest supermarket chain in Wisconsin, which recently demonstrated its commitment to the property by extending its lease through 2034. The center is 96% leased and also home to Petco, Plant Fitness, Harbor Freight Tools, Metro PCS, Dollar Tree, Subway, H&R Block, Bangkok House Restaurant, Hariport, Papa Murphy’s Pizza and P.T. Nails. Additionally, the 14.17-acre site has room for a future outparcel development.
Whitnall Square is at 4698 S. Whitnall Ave. in Saint Francis, which is seven miles southeast of downtown Milwaukee and proximate to Interstate 794, facilitating easy access to the center. The center pulls from a dense, infill trade area with a population of 211,000 and an average annual household income of $65,000 within a five-mile radius.
The JLL Retail Capital Markets Investment Sales Advisory team representing the seller was led by Managing Directors Amy Sands and Clinton Mitchell and Director Michael Nieder, along with Senior Managing Director Jaime Fink.