MILWAUKEE—Westwood Financial Corp. has purchased a shopping center here in the downtown, the East Pointe Marketplace, for $15.4 million.

The 58,000-square-foot center is at the corner of East Lyon Street and North Van Buren Street, and is anchored by Pick ‘n Save grocery store, which is owned by local powerhouse grocer Roundy’s. The seller is an affiliate of a joint venture of Mandel Group Inc. and Northwestern Mutual, which was represented by Daniel Kaufman, Jim Batjer and Barry Brown of Holiday Fenoglio Fowler.

Westwood Executive Vice President Joe Dykstra said in a statement that the center is a quality property with a draw from the city’s daytime office population and entertainment attractions. The 18-year-old property is 100 percent occupied. Other tenants include Starbucks, Einstein Bagels, Sally Beauty, Noodles & Company, Guaranty Bank, UPS Store, Five Guys Burgers, Carriage Cleaners and Accelerated Health Systems.