Fountain Square shopping center in Brookfield was sold to a Phoenix, Ariz.-based real estate investment company for $37.5 million, according to state records.
Cole Credit Property Trust IV, Inc., an affiliate of Phoenix, Arizona-based Cole Capital, purchased the property, which is in receivership, from Menomonee Falls-based Continental 64 Fund LLC.
The 188,000-square foot-retail center was built in 2005 on the former site of a miniature golf and driving range just north of Brookfield Square Mall at 16020 W. Bluemound Road. Tenants include Bed Bath and Beyond, buybuy BABY, Cost Plus World Market, and Golfsmith.
The property is assessed by Waukesha County at $36.7 million
Cole Credit Property Trust IV, Inc. purchased the Pick ‘n Save Shopping Center in Sheboygan from Continental Properties in 2012 for $14.1 million.
