Pick ‘n Save-anchored retail building in Waukesha sold for $4.8 million

An affiliate of Oak Brook, Ill.-based Net3 Real Estate LLC recently purchased an 80,000-square-foot retail building at 1531 E. Moreland Blvd. in Waukesha for $4.8 million, according to state records.

The building, which sits on a 9.1-acre site, is anchored by a Pick ‘n Save grocery store.

Earlier this year Waukesha State Bank moved its branch out of the Moreland Boulevard building to a new 5,000-square-foot freestanding branch building at 1640 E. Main St. in Waukesha.

The building was sold by Wauwatosa-based Aspen Lake LLC. The sale price was close to the property’s assessed value of about $4.86 million, according to Waukesha County records.

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