East Pointe Marketplace, a 57,888-square-foot shopping center in downtown Milwaukee, is for sale, according to Chicago-based commercial real estate firm Holliday Fenoglio Fowler LP, which says it has been hired to market the property for the sellers, a joint venture of Northwestern Mutual Life Insurance Co. and Mandel Group Inc.
The shopping center is fully leased. It is anchored by a Pick ‘n Save grocery store. Additional tenants include Starbucks, Einstein Bros. Bagels, Noodles & Co. and Five Guys.
No formal asking price has been listed for the shopping center.
The Holliday Fenoglio Fowler investment sales team representing the sellers is led by director Daniel Kaufman and associate director Amy Sands in the Chicago office, and senior managing directors Jim Batjer and Barry Brown in the firm’s Dallas office.
“Pick ‘n Save is Milwaukee’s absolute market dominant grocer with more than 45 percent market share,” said Kaufman. “The center has been institutionally owned and has been downtown Milwaukee’s dominant grocery anchored community center since completion.”
“East Pointe will command significant interest from the investor community given the center’s dominant positioning at the center of Milwaukee’s thriving downtown residential, student and daytime office population base,” said Sands.