SLINGER, WIS. — Allegis Hardware has received approval to build a 90,000-square-foot production, warehouse and office facility within Slinger Merchant Village, a development by Three Leaf Partners in Slinger, about 35 miles northwest of Milwaukee. Groundbreaking is slated for April. The project will consolidate Allegis Hardware’s production, warehousing and administrative operations into a single facility. The building is permitted under the Planned Unit Development governing Merchant Village, which allows up to 66.9 acres for business and light manufacturing uses. The site plan includes parking along the northwest portion of the parcel and a loading dock area on the southeast side of the building. Founders 3 Commercial Services is the broker for the project.
MIDDLETON, WIS. — CBRE has negotiated two 20-year lease extensions totaling 233,694 square feet for Thermo Fisher Scientific’s PPD clinical research business in Middleton near Madison. The Boston-based life sciences company will continue to occupy both laboratory buildings. CBRE’s Chase Brieman and James West represented the landlord, an affiliate of New York City-based global investment manager Nuveen. John Boyle and Roger Williams of Cushman & Wakefield and Craig Stanley and Deana Porter of Broadwing Advisors represented the tenant.
MADISON AND VERONA, WIS. — Northmarq has arranged the $10.7 million sale of Westminster and Prairie Oaks II, two senior living communities totaling 102 units in the Madison metro area. Both properties operate under low-income housing tax credit restrictions through 2032 and are designated for residents age 55 and older. Westminster in Verona was built in 2003, and Prairie Oaks II in Madison was constructed in 2002. Both feature one- and two-bedroom floor plans with amenities such as underground heated parking, community lounges, fitness and business centers and onsite management. Jake Lamb, Parker Stewart, Dominic Martinez and Alex Malzone of Northmarq represented the seller, Lakeside Capital Advisors. TPW Properties was the buyer.
PLEASANT PRAIRIE, WIS. — Berkadia has arranged the sale and $69 million in acquisition financing for Cobblestone Creek and Fountain Ridge, two multifamily properties in Pleasant Prairie within Kenosha County. Pete Evans and Richard Evans of Berkadia represented the undisclosed seller, while Laura Cathlina, Chris Blechschmidt and Emily Stang of Berkadia arranged Freddie Mac financing on behalf of the buyer, Illinois-based Santefort Real Estate Group. Cobblestone Creek is a four-building, 164-unit community built from 2013 to 2015. Fountain Ridge consists of 262 units across 13 buildings and was built from 2017 to 2019. Both properties have been consistently fully occupied and present value-add upside, according to Berkadia.
MUKWONAGO, WIS. — McShane Construction Co. has completed Azura Mukwonago, a 72-unit assisted living and memory care community in Mukwonago, about 30 miles southwest of Milwaukee. Azura Living was the developer. Designed by EUA, Azura Mukwonago integrates two assisted living buildings and one memory care building on a 6.4-acre site. A 35-foot barn serves as a storage facility. Amenities include community rooms, dining rooms, kitchens, sunrooms, a fitness area, spa, salon, community garden, walking paths, a putting green, bocce ball courts and courtyards.
DELAFIELD, WIS. — Hendricks Commercial Properties (HCP) has begun development of Irontek, a new flexible workspace in Delafield, about 27 miles west of Milwaukee. Located at The Grain (West Building), Irontek will encompass 11,223 square feet and is scheduled to open this summer. Irontek’s Delafield location will include 37 private offices, 24 dedicated desks and open workspace options. Members will have access to a variety of meeting and collaboration spaces, including one 18-person conference room, three drop-in huddle rooms accommodating four to eight people and three private phone booths for calls and virtual meetings. Irontek offers flexible lease terms. High-speed Wi-Fi, utilities, furnishings, maintenance and shared amenities are all included. The project marks HCP’s second Irontek location, joining the one in Beloit, Wis., that opened in 2016. The project team includes Corporate Contractors Inc., Galbraith Carnahan Architects, Harwood Engineering Consultants and Henricksen as interior partner. All are based in Wisconsin. The Grain is a mixed-use destination developed by HCP in 2023.
APPLETON, WIS. — Terramed Real Estate Solutions has acquired BluePearl Pet Hospital Fox Valley, a veterinary facility in Appleton within Wisconsin’s Fox Valley, for $7.1 million. The 32,232-square-foot emergency, specialty and urgent care property is the only 24-hour veterinary hospital in East Central Wisconsin. The transaction included the renegotiation of a new 10-year lease. The hospital’s team of 20 veterinarians offers orthopedic and soft-tissue surgery, internal medicine, dermatology, oncology, medical imaging and other advanced services. Terramed now holds a national portfolio of nearly 2 million square feet of medical real estate.
GREEN BAY, WIS. — NAI Pfefferle has brokered the sale of a 13,500-square-foot office building located at 3450 Packerland Drive in Green Bay. The sales price was not disclosed, but the asking price was $2.9 million. Adam Meyers of NAI Pfefferle brokered the sale.
LAKE GENEVA, WIS. — Marcus & Millichap has arranged the $4.9 million sale of a 30,162-square-foot retail building net leased to Best Buy in Lake Geneva, about 50 miles southwest of Milwaukee. Best Buy has occupied the property, which is part of a retail strip center shadow anchored by Target, since it was built in 2008. Jeff Rowlett and Eric Wagner of Marcus & Millichap represented the seller, BB Geneva LLC, and procured the buyer, Agree Central LLC.
PLEASANT PRAIRIE, WIS. — The Barry Co. has brokered the sale of the former warehouse and retail facility for Jelly Belly in Pleasant Prairie. The candy company closed its operations at the property in 2020. The facility is now occupied by Rust-Oleum and SMT Packaging, tenants that were procured by Barry Co. after Jelly Belly moved. Kevin Barry and David Buckley of Barry Co. represented the undisclosed seller. The buyer was 9th and Main LLC.
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