A local real estate investment company has bought an Oak Creek shopping center with plans to spruce up the property, which recently lost its anchor tenant.
The 46,000-square-foot
Tower Square Shopping Center, located at 2201 E. Rawson Ave., was purchased by Oak Creek-based Experience Bros Properties for about $2.1 million, according to state property records.
Experience Bros Properties is operated by brothers
Peter and
Lou Liapis, which also
own and operate Grassroots Salad Co. in downtown Milwaukee's Chase Tower and
Georgie Porgie’s Treefort Restaurant in Mount Pleasant and Oak Creek.
The brother duo plans to give the Rawson Avenue property a modern facelift, including parking lot enhancements, exterior upgrades and an updated pylon sign.
"We’re making sure this place is aesthetically pleasing," Lou Liapis said in a statement.
The retail center's anchor tenant, Piggly Wiggly, shut down at the end of 2024 vacating about 32,000 square feet of space.
Liapis said they plan to find a new anchor tenant "
that truly connect with the community," as well as offering commercial outlots on the property for future development.
Remaining tenants include Domino's pizza, Discount Smokes & Spirits and Ultra Tan.
"
With a recent boom of development along the corridor between Howell and Pennsylvania Avenues, we’re excited to be part of the action and create a dynamic shopping destination that reflects the evolving vibe of this community," Liapis said.
The property was sold by an affiliate of Chicago-based Kaufman Jacob, which invests in a variety of real estate nationally, its website shows.
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