A one-time Pick ‘n Save store property in the Milwaukee suburb of South Milwaukee has been acquired by an affiliate of ACRE Investment Co. for $2.2 million, but its future use is unknown, according to a report in the Milwaukee Journal Sentinel.
ACRE Investment, based in Pleasanton, California, owns commercial buildings that have been leased to retail tenants such as Kohl’s and Dick’s Sporting Goods.
In May, the Journal Sentinel reported that the 60,196-square-foot building, located at 2311 S. Chicago Ave., might be purchased by Fox Bros., which operates 11 Piggly Wiggly stores in Wisconsin.
The former Pick ‘n Save store was one of five Milwaukee-area supermarkets closed last year by Kroger Co., their Cincinnati-based parent company.
