Future Walmart sites in Wauwatosa, Greenfield sold
Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development.
A 63,000-square-foot former Jewel-Osco store in Wauwatosa that will be remodeled for a Walmart supermarket and other retailers has been sold for $5.1 million to an investors group.
The building, at 3850 N. 124th St., was sold by ASP Realty Inc., a subsidiary of Jewel-Osco's corporate parent, Supervalu Inc., to Capitol 124 LLC, according to documents filed with the Milwaukee County register of deeds.
Wauwatosa city officials earlier this year approved plans for a 38,000-square-foot Walmart Neighborhood Market at that location. Gatlin Development Co., which is developing the building, will seek other retailers for the remaining space.
I contacted a Walmart spokeswoman to find out when the supermarket will open but haven't heard back yet.
Also, the 17.2-acre Green Fields Golf Center driving range and miniature golf course, east of S. 108th St. and just north of W. Layton Ave., Greenfield, has been sold to Walmart Real Estate Business Trust for $7.4 million, according to the register of deeds.
A 140,000-square-foot Walmart supermarket and discount store is being developed at that site, which is just south of an existing Walmart, at 4500 S. 108th St.
Walmart will look for new uses for the old store once the new one is completed. The project should take about a year to complete.
By the way, the driving range at Green Fields is closed, but the mini golf course is open until Sept. 16.
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Commercial Real Estate News
Common Council rejects apartment high-rise behind Goll House
A proposed $55 million 27-story apartment tower for Milwaukee's east side has been rejected by the Common Council.
The council on Tuesday voted 10-5 to support the project, falling two votes short of the supermajority needed for approval. The zoning change needed 12 votes because a protest petition was signed by enough adjacent property owners, said Ald. Ashanti Hamilton, council president.
The opponents were Ald. Robert Bauman, whose district includes the site, along with aldermen Cavalier Johnson, Mark Borkowski, Jose Perez and Tony Zielinski.
Check the Milwaukee Assessor’s Office website, which includes tools to look up property assessments.
Find property assessments for other communities throughout the state at AssessorData.org.
The Milwaukee Department of City Development website includes information on the city Plan Commission and Redevelopment Authority.
The Commercial Association of Realtors Wisconsin offers information on commercial realtors and real estate.
The Milwaukee chapter of the Institute of Real Estate Management serves the needs of real estate management professionals
The Wisconsin chapter of the NAIOP Commercial Real Estate Development Association aims to serve developers and owners of commercial real estate.
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The judges said, "Daykin’s aggressive reporting and accessible, explanatory writing make him a must-read for his tight-knit and highly engaged audience."
