JLL Capital Markets closes $19 million sale of Pick ‘N Save Center in Wauwatosa, WI

Amy Sands 

 

 CHICAGO, IL – JLL Capital Markets announced it has closed the $19 million sale of Pick ‘N Save Center, a 69,749-square-foot, fully leased shopping center anchored by Pick ‘N Save in the Milwaukee community of Wauwatosa, Wisconsin.

 JLL marketed the property on behalf of the seller, a partnership between Newport Capital Partners and Artemis.

Clinton Mitchell 

JRW Realty facilitated the all-cash acquisition of the net-leased property on behalf of ExchangeRight, a vertically integrated real estate company with over $3.8 billion in assets under management.

Completed in 2008 and 2012, Pick ‘N Save Center is anchored by Pick ‘N Save, the No. 1 grocery by market share in Wisconsin and a subsidiary of Kroger.

 The center comprises three single-story retail buildings that are also home to Mattress Firm, Firehouse Subs and Bubon Orthodontics. 

 Situated on 5.24 acres at the southwest corner of Interstate 41/45 and Mayfair Road, the center is in Wauwatosa, which is part of the Milwaukee metropolitan area.

Pick ‘N Save Center pulls from an extended trade area where 46 percent of customers travel more than three miles to visit the property.

Jaime Fink

 According to JLL Research, conditions in smaller shopping centers less than 100,000 square feet, like Pick ‘N Save Center, improved noticeably in the first quarter of 2021.

The JLL Retail Capital Markets team that represented the seller was led by Managing Directors Clinton Mitchell and Amy Sands and Director Michael Nieder, along with Senior Managing Director Jaime Fink.

 JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization.

Jaime Fink

The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 About Newport Capital Partners

Newport Capital Partners (“Newport”) is a leading vertically integrated real estate investment management firm that specializes in the acquisition and management of neighborhood and community retail shopping centers.

Formed in 2004, Newport has offices in Chicago, Illinois, and Dallas, Texas.  The firm is a Registered Investment Adviser and a certified Service-Disabled Veteran Owned Business. 

Pick ‘N Save Center, a 69,749-square-foot,
 fully leased shopping center anchored
 by Pick ‘N Save in the Milwaukee
 community of Wauwatosa, WI

As a trusted fiduciary, Newport has sponsored and managed various investment vehicles including commingled funds, separate accounts, and takeover mandates on behalf of institutional investors, financial institutions and family offices.

CONTACT:

Kimberly Steele

 JLL Manager, Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

artemisrep.com

exchangeright.com 

jll.com.

 

JLL hires leading industrial leasing expert Hunter McDonald in Inland Empire area of Southern California

 

Hunter McDonald

 

Charlie Smith

 ONTARIO, CA –With explosive demand for industrial space in the Inland Empire area of Southern California, JLL announced that 11-year veteran Hunter McDonald has joined the firm’s Inland Empire industrial brokerage team as Executive Vice President. 

Based in JLL’s Ontario, California office, McDonald will continue to specialize in working with institutional landlords and users on their real estate needs.

"For the past few years, JLL has seen tremendous demand from industrial users and investors in the Inland Empire, one of the most active markets in the country,” said Charlie Smith, JLL Managing Director. 

 "Hunter’s character, reputation, knowledge of the market and track record make him the perfect candidate to help us satisfy the needs of our clients. We are confident that he will be a valued team member of our Southern California industrial team."

Sharon Wortmann

Prior to joining JLL, McDonald served as first vice president at an international commercial real estate firm where he specialized in representing principals and occupiers of industrial real estate.  Throughout his career, he has secured sales and leasing transactions valued at more than $539 million

Peter McWilliams

JLL’s Inland Empire industrial brokerage team is led by Peter McWilliams and Mike McCrary and also includes senior brokers Ruben Goodsell, Patrick Wood, Mac Hewett, Jeff Bellitti and Sharon Wortmann.

Collectively they have over 125 years of experience in the Inland Empire market.

Mike McCrary

 Over the last five years, the team completed over 156 million square feet and 2,400 acres of transactions for a total value of over $7.9 billion.

 Ruben Goodsell

It was recognized as JLL’s #1 industrial team

 in 2011, 2013, 2016, 2019 and 2020.

CONTACT:

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”