West Bend Walmart sold to Calif. firm
San Diego company buys south-side property for $17M

By McLean Bennett

June 18, 2019

A San Diego real estate investment firm has purchased West Bend’s south-side Walmart property.
McLean Bennett/Daily News Staff

WEST BEND 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.