The former Walmart building in New Berlin has been acquired by the owners of Brookfield-based retailer Burghardt Sporting Goods
According to state records, an affiliate of Burghardt purchased the property, located at 15333 W. National Ave. in the Moorland Square shopping center, for nearly $3.26 million. That's less than the property's assessed value of $4 million, according to Waukesha County records.
The buyer was Burghardtia LLC, which is registered to Burghardt co-owner Lynn Burghardt.
It was acquired by an affiliate of Greenwich, Connecticut-based real estate investment trust Starwood Property Trust Inc.
The seller listed the firm's Miami Beach, Florida address.
A representative of Burghardt said the company would detail its plans for the building at a later date.
Founded in 1881, Burghardt is a family owned and operated. Its website lists locations on West Capitol Drive in Brookfield and on North Port Washington Road in Fox Point.
The former Walmart store was constructed in 1991 and totals 108,000 square feet, according to a LoopNet listing. It was replaced in 2015 by a new 152,000-square-foot Walmart store
at 15205 W. Greenfield Ave.
The building was put up for auction in mid-February, according to a marketing brochure
from Cushman & Wakefield | The Boerke Co.