An affiliate of Milwaukee developer Stewart Wangard purchased the Cottonwood Plaza in Hartland for $4.9 million, according to state records.
J.F. Clearcotton, LLC purchased the shopping center, located at 505-533 Cottonwood Ave., from P.O’ B Hartland, LLC.
The property has an assessed value of $3.4 million, according to Waukesha County records.
Wangard, chairman and chief executive officer of Wauwatosa-based real estate development firm Wangard Partners Inc., is the registered agent for J.F. Clearcotton, LLC.
The 54,431-square-foot shopping center is 89 percent leased. It was built in 1988 and remodeled in 2006. The center is anchored by a Piggly Wiggly grocery store.
At one time, Wangard Partners was Piggly Wiggly’s primary landlord. The company now manages buildings with six Piggly Wiggly stores in Wisconsin, a Cub Foods in Minneapolis and Pick ’n Save stores in the Fox Valley, Oconomowoc, Kenosha and on the northwest side of Milwaukee.
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