A Cincinnati-based commercial real estate investment firm with a history of purchasing grocery-anchored shopping centers in Wisconsin has bought the Greentree Centre in Racine for $12 million.
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Phillips Edison & Company purchased the 169,268-square-foot shopping center, anchored by Pick ‘n Save and Big K-Mart stores, from Oak Brook, Illinois-based IRC Retail Centers
, according to state records.
The shopping center, located at the northeast corner of Highway 32 and 4 Mile Road, includes three outlots, one of which is occupied by a McDonalds.
Phillips Edison & Company
has a national footprint of more than 340 retail properties.
In Wisconsin, the company owns seven retail centers including Franklin Centre, 7199-7255 S. 76th St., Franklin; Point Loomis, 3701 S. 27th St., Milwaukee; and Village Square of Delafield, 3161 Village Square Drive, Delafield.