A Brookfield retail center has been sold for $20.7 million, according to state property records.
Atlanta-based investment firm
RCG Ventures purchased the properties, known as
Fountain Square and located at 16020-16130 W. Bluemound Road.
With 166,300 square feet of space, Fountain Square currently has tenants that include Fidelity Investments, Golf Galaxy, PetSmart, Michael's and World Market.
The properties had a 2024 assessed value of $23.9 million, according to Waukesha County records.
According to a brochure from RCG Ventures, three spaces are vacant, including two of the box store spaces. There is a pending tenant for one of those spaces, with the other 33,200-square-foot space, which used to be occupied by Buybuy Baby, still on the market. There is also a 6,300-square-foot building on an outlot available.
RCG Venture's other Wisconsin investments include retail properties in Somers, Plover and Oshkosh, its website shows.
The company did not immediately respond to request for comment.
State records list the property's seller as a Rhode Island-based entity connected to
AR Global, which performed property management services for
Global Net Lease, a publicly-traded real estate investment trust (REIT).
Last month, Global Net Lease sold $1.8 billion in real estate assets to RCG Ventures, according to a press release.
