A California-based real estate investment firm purchased the former K-Mart building on West Bluemound Road in the Town of Brookfield for $13.7 million.
Bluemound Marketplace LLC purchased the 8.9 acre parcel at 18200 W. Bluemound Road from from Menomonee Falls-based Continental Properties Co. Bluemound Marketplace LLC is registered to United American Properties, of Newport Beach, Calif.
The property is assessed by Waukesha County at $7.77 million.
Representatives from United American Properties and Continental Properties could not immediately be reached for comment.
The Brookfield Kmart store closed in December 2013. In 2015, Dunham's Sports and The Hobby Lobby began leasing space in the building.
Rick Czopp, Town of Brookfield administrator said he has not heard about any plans for the site.