Waukesha Gander Mountain store sold for $18 million

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.

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

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