Dallas-based Tabani Group has purchased a shopping center in Menomonee Falls that was once anchored by a Walmart Neighborhood Market store.
A Tabani affiliate bought the former Walmart and other retail buildings at the southeast corner of Pilgrim Road and Main Street for $7.55 million, according to Waukesha County records. The seller is an affiliate of Oak Brook, Illinois-based IRC Retail Centers LLC.
The buildings Tabani acquired include the 40,596-square-foot vacant Walmart building, an attached multi-tenant retail building and a 4,900-square-foot building occupied by Ninja Japanese steakhouse.
The properties collectively have an assessed value of $6.83 million, according to county records.
Walmart closed its Menomonee Falls Neighborhood Market along with more than 150 others nationwide in 2016.
Representatives of Tabani did not immediately respond to a request for comment.
According to its website, Tabani is a full-service commercial real estate company, with a portfolio of over $1 billion and 10 million square feet nationwide. It owns commercial, hotel and residential properties.