A San Diego real estate investment firm has purchased
West Bend’s south-side Walmart property from Menomonee
Falls-based Continental 76 Fund LLC, the city assessor’s
office confirmed on Monday.
Realty Income Properties LLC bought the nearly
21-acre parcel for just over $17 million, according to
state real estate transaction records available online
Monday. The purchase was finalized Friday.
Milwaukee’s BizTimes Media first reported on the sale
in an online report Monday.
An assistant store manager at West Bend’s Walmart on
Monday directed inquiries to a corporate media line, but
nobody was immediately available at the number provided.
Walmart has challenged several years’ worth of city
tax assessments on the property. In a lawsuit last year
challenging a roughly $12.85 million assessment, it said
the city had over-assessed a property it argued was
actually worth no more than $6.25 million.
The California-based firm’s website notes Realty
Income Properties owns more than 5,800 properties in 49
U.S. states, Puerto Rico and the United Kingdom.
Correction: A previous version of this story
identified Menomonee Falls-based Continental 76 Fund
LLC, the Walmart store’s previous property owner, as
having challenged city tax assessments.