Milwaukee-based property management firm Midland Management, LLC, has acquired East Town Square mall in Mequon for $8.2 million.
The mall, which sits on about 4 and ½ acres at 1505-1515 W. Mequon Road just west of Port Washington Road, was sold by a limited liability company affiliated with Milwaukee-area investor Thomas Shafer of Bayside Development, according to state property transfer records.
Described as an upscale, boutique shopping mall, East Town Square, which contains both an inside and an outside promenade, is home to about a dozen businesses. Those businesses include restaurants like Zarletti’s and Café 1505, nail salons like Erik of Norway, and stores like Lemon Tree and Lorain’s for Her.
Midland Management, LLC owns a number of shopping centers across the Midwest, including more than 20 properties in Wisconsin. Milwaukee area properties owned and managed by the company include RiverPoint Village in Fox Point and One Mayfair Place in Wauwatosa.