East Town Plaza, a 24,000 square foot shopping center located at the corner of Farwell Avenue and Brady Street on Milwaukee’s East Side, sold to Chicago-based Monroe Investment Partners. Siegel-Gallagher was retained by Greystone & Co. of NYC to manage and sell the strip center after they took back the property in November. East Town Plaza is over 90% occupied with Walgreens as the major anchor and six other stable tenants including Subway, Supercuts, and Universal Wireless.
“Interest in the asset was very strong, testifying to the continued demand for quality assets in excellent locations in spite of the economic downturn,” said Patrick Gallagher who managed the sale for Siegel-Gallagher. Monroe Investment Partners’ initial plans include cosmetic upgrades to the property.
