CHICAGO, July 20 2021 -JLL Capital Markets announced today that 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. 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.

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

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Jones Lang LaSalle Inc. published this content on 20 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 July 2021 15:45:03 UTC.