A Waukesha shopping center has been sold from one national investor to another for $16.4 million, according to state records.
Silvernail Plaza, located on a 13.5 acre site at 2100 Silvernail Road near the border with the City of Pewaukee, is currently anchored by Metro Market and Dollar Tree stores, and also has a tanning salon, H&R Block and other smaller tenants.
The strip mall portion of the center sold for $12.3 million, state records show, with three of its commercial outlots selling for $4.1 million. Those outlots include a Firestone Auto Care, Arby's and Wendy's.
The properties were purchased by an affiliate of Cincinnati-based
Essential Growth Properties, which invests in retail centers nationally, it's website shows.
Essential Growth bought the properties from an affiliate of Minneapolis-based
United Properties, another national commercial real estate firm.
Silvernail Plaza is marketed locally by
Mid-America Real Estate and currently has about 9,700 square feet of space available, according to marketing materials for the property.
