Waukesha Gander Mountain store sold for $18 million

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The Gander Mountain store at 2440 E. Moreland Blvd., Waukesha, was sold recently for $18,275,353, according to state records.

An affiliate of Phoenix, Ariz.-based Cole Real Estate Investments, the private capital business of New York-based American Realty Capital Properties Inc., purchased the property from an affiliate of Oak Brook, Ill.-based The Inland Real Estate Group of Companies Inc.

The store is located on a 6.3-acre site between I-94, Moreland Boulevard and Bluemound Road and behind a Target store. Before Gander Mountain, the site was occupied by Westown Cinema, which closed in 2007 when Marcus Theatres Corp. opened its Majestic Cinema in the Town of Brookfield.

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The Gander Mountain property sold for well above its assessed value of $6.6 million, according to Waukesha County records.

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