Home Industries Real Estate West Allis retail center sells for $22 million

West Allis retail center sells for $22 million

By
Hunter Turpin
-
West Allis Towne Center

The West Allis Towne Center shopping center was sold to a New York City-based investment firm for $22 million, according to state records. The 23-acre retail center, with tenants including Hobby Lobby, Burlington, Dollar Tree and Party City, among others, is located northeast of West Greenfield Avenue and South 70th Street. State records show that

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Hunter Turpin
http://www.biztimes.com
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A recent graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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The West Allis Towne Center shopping center was sold to a New York City-based investment firm for $22 million, according to state records. The 23-acre retail center, with tenants including Hobby Lobby, Burlington, Dollar Tree and Party City, among others, is located northeast of West Greenfield Avenue and South 70th Street. State records show that an affiliate of Jericho, New York-based Kimco Realty sold the property to an affiliate of New York City-based KPR Centers. KPR Centers, which has properties throughout the East Coast and Illinois, primarily acquires retail and industrial properties. According to the firm's website, it usually only acquires properties larger than 75,000 square feet with a price of $25 million or more. West Allis Towne Center, with 25 storefronts currently, has 326,000 square feet of space, according to marketing materials for the property. It was built in 1987 and renovated in 2011.

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