An affiliate of Milwaukee developer Stewart Wangard purchased the Cottonwood Plaza in Hartland for $4.9 million, according to state records.
[caption id="attachment_321215" align="alignright" width="512"] Cottonwood Plaza[/caption]
J.F. Clearcotton, LLC purchased the shopping center, located at 505-533 Cottonwood Ave., from P.O’ B Hartland, LLC.
The property has an assessed value of $3.4 million, according to Waukesha County records.
Wangard, chairman and chief executive officer of Wauwatosa-based real estate development firm Wangard Partners Inc., is the registered agent for J.F. Clearcotton, LLC.
The 54,431-square-foot shopping center is 89 percent leased. It was built in 1988 and remodeled in 2006. The center is anchored by a Piggly Wiggly grocery store.
At one time, Wangard Partners was Piggly Wiggly’s primary landlord. The company now manages buildings with six Piggly Wiggly stores in Wisconsin, a Cub Foods in Minneapolis and Pick ’n Save stores in the Fox Valley, Oconomowoc, Kenosha and on the northwest side of Milwaukee.
This week, Cermak Fresh Market grocery store opens in Wangard’s Freshwater Plaza development in Milwaukee’s Walker’s Point neighborhood.