MINNEAPOLIS AND MILWAUKEE — JLL Capital Markets has brokered the $50.5 million sale and secured acquisition financing for the Midwest Distribution Portfolio, a collection of four industrial properties totaling 608,316 square feet across the Minneapolis and Milwaukee metro areas. The fully occupied portfolio includes a 265,516-square-foot distribution center in Lino Lakes, Minn., two buildings totaling 141,750 square feet in Pewaukee, Wis., and a 201,050-square-foot complex in Milwaukee adjacent to the airport. The properties are home to nine tenants across sectors such as merchant wholesalers, apparel, motor freight distribution and air freight services. The facilities feature clear heights ranging from 22 to 30 feet with more than 70 loading positions. Colin Ryan, David Berglund and Ed Halaburt of JLL, along with Tom Shepherd of Colliers represented the seller, Biynah Industrial Partners. Matthew Schoenfeldt and Lucas Borges of JLL arranged the financing.
Wisconsin
STEVENS POINT, WIS. — Marcus & Millichap has arranged the $8.2 million sale of Northpoint Shopping Center, an 11-suite retail strip center in Stevens Point, a city in central Wisconsin. Built in 1968, the 62,956-square-foot property is fully occupied by tenants such as Dollar Tree, Anytime Fitness, U.S. Cellular and Firehouse Subs. The asset is within walking distance of the University of Wisconsin-Stevens Point. Dan Bowar of Marcus & Millichap procured the buyer, Hastings Properties LLC.
LITTLE CHUTE, WIS. — Zilber Property Group has acquired a 208,000-square-foot industrial building in Little Chute, about 25 miles southwest of Green Bay. Constructed in 1997 and renovated in 2010, the property is fully occupied by Progressive Converting Inc., an independent paper converter. The acquisition marks Zilber’s first in the Fox Valley area. The company now owns and manages nearly 10 million square feet across more than 50 industrial buildings in Wisconsin.
CEDARBURG, WIS. — Elm Grove, Wis.-based Luther Group has broken ground on an 86,800-square-foot spec industrial building in southeast Wisconsin’s Cedarburg. The project will be situated on 8 acres within Highway 60 Business Park, and flexible leasing options will be offered ranging from 15,000 to 86,800 square feet. Completion is slated for December 2026. Colliers is handling leasing.
MILWAUKEE — Dwight Capital has provided a $114 million HUD 221(d)(4) substantial rehabilitation loan for the conversion of 100 East Wisconsin, a 34-story office building in Milwaukee, into a 373-unit luxury apartment community. Positioned at the heart of the city’s central business district along the Milwaukee River, 100 East Wisconsin is currently the state’s third-tallest building and will become the tallest residential building upon completion, according to Dwight. Units will come in studio, one-, two- and three-bedroom layouts. Amenities will include a fitness center, yoga studio, spa, coworking space, conference room, pet lounge, bike storage, multiple lounge and bar areas, a game room with a sports simulator and a rooftop deck with swimming pool. At 35 years old, 100 East Wisconsin is among the newest buildings ever added to the National Register of Historic Places, having been designated in January 2025 in recognition of its architectural and historic significance. The distinction qualified the project for federal and state historic tax credits. The City of Milwaukee further supported the project with a tax-increment financing package of up to $16.6 million through a newly established tax-increment district. The HUD loan was the largest multifamily HUD loan ever closed in Wisconsin; the largest …
WEST BEND, WIS. — CBRE has arranged the sale of Trail’s Edge Apartments, a 120-unit apartment community in West Bend, a northern suburb of Milwaukee. Wisconsin Lakefront Property Management LLC acquired the property from an ownership group that included an entity related to American Construction Services, the asset’s original developer. CBRE’s Sean Beuche, Matson Holbrook and Gretchen Richards represented the seller. Built in 2022, the property features a range of one- and two-bedroom floor plans ranging from 785 to 1,465 square feet. Amenities include a fitness center, picnic area, community room, pet washing station and interior car wash bay.
BIG BEND, WIS. — The Milwaukee office of Kraus-Anderson (KA) will build the Breck Athletic Complex, a $175 million youth sports complex located at Highway 164 and I-43 in Big Bend, just southwest of Milwaukee. The facility will host national-level baseball, soccer and lacrosse tournaments. The project will be the first of its kind in the area and the largest complex in Wisconsin when complete, according to KA. Construction is expected to begin this spring. Designed by ISG Architects, the project’s baseball component will feature six full turf lighted outdoor fields, a championship field with built-in seating, a 150,000-square-foot indoor baseball, lacrosse and soccer facility, batting cages and warmup areas, bleachers and restrooms. There will be five full turf outdoor fields for soccer and four full turf outdoor fields for lacrosse. Amenities will include golf simulators, a looped fitness trail, gas station, parking, commercial and retail spaces, sports outfitters and an onsite hotel. Food and entertainment offerings will include multiple concessions, additional restaurants, a coffee bar and a craft beer bar, restaurant and banquet hall near the championship field. The soccer fields are anticipated to be ready for gameplay by early fall 2026. Baseball diamonds are expected to open in …
GRAND CHUTE, WIS. — Associated Bank has provided a $32.7 million loan to Toonen Inc. for the construction of The Strata Apartments, a multifamily complex along McCarthy Road in Grand Chute. The 25-building project will include 236 units. Several of the buildings will feature attached or detached garages, and the majority (172) of the units will be two-bedroom floor plans. Construction is underway, and completion is slated for February 2028. Toonen maintains a portfolio of nearly 3,500 units across the Green Bay and Fox Valley areas of Wisconsin. Tim Jorgensen of Associated Bank managed the loan arrangements and closing.
MILWAUKEE — CBRE has arranged the sale of a five-building, 126,335-square-foot flex industrial property in Milwaukee. Minnesota-based Brait Capital purchased the property from Oyster Two Wisconsin Owner LLC for $6 million. CBRE’s Matson Holbrook, Sean Beuche and Patrick Gallagher represented the seller. Built in 1987, the asset features clear heights ranging from 14.5 to 17 feet, several dock-high and drive-in loading doors and ample parking on a 10-acre site. The property was 67 percent occupied at the time of sale.
WAUSAU, WIS. — Marcus & Millichap has brokered the $2.5 million sale of a single-tenant retail property net leased to Chipotle in Wausau. The newly constructed building totals 5,000 square feet. The property is secured by a 15-year, corporate-guaranteed net lease and is the only Chipotle within a 95-mile radius, according to Marcus & Millichap. Jeff Rowlett, Blake Hanlon and Mark Peltin of Marcus & Millichap procured the buyer, Niets Investment Co. Michael Hughes of Marcus & Millichap Capital Corp. secured a five-year loan with a fixed interest rate of 5.65 percent and a 25-year amortization period.
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