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Cole Credit Property Trust IV buys Wis. shopping center for $37.5M

Cole Credit Property Trust IV Inc. acquired the Fountain Square shopping center in Brookfield, Wis., for $37.5 million from Continental Properties Co. Inc., the Milwaukee Business Journal reported, citing Cole Capital.

The publication noted that the servicer of a roughly $39.3 million loan on the 165,872-square-foot property deemed the asset to have been potentially headed for foreclosure had the deal not closed.

The 100%-occupied retail center features Bed Bath & Beyond, Cost Plus World Market, Buy Buy Baby, Golfsmith, Michaels and PetSmart, among other tenants.