REAL ESTATE

Newport Capital acquires Wisconsin center

BY Al Urbanski

A TJ Maxx-anchored center in Brookfield, Wis., was acquired by Newport Capital Partners. Sale price of the 137,816-sq.-ft. property was not disclosed.

Brownstones Shopping Center is located at the intersection of Bluemound and Calhoun Roads in the heart of Brookfield’s Bluemound Trade Corridor, the dominant trade area in Milwaukee. It co-anchored by a Metro Market grocery and also houses: Jersey Mikes, Pearl Vision, Weight Watchers, ATI Physical Therapy, TGI Friday, and Dairy Queen.

Mid-America Real Estate principal Rick Drogosz and VP Teresa Shemitis brokered the deal on behalf of the seller, IRC Retail Centers.

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