SHEBOYGAN, WIS. — Marcus & Millichap has arranged the $2.5 million sale of the 45-room Oasis Hotel in Sheboygan Falls. The seller, a first-time hotel owner, acquired the property in 2022 and removed the flag, completed a full renovation and operated it as an independent hotel before deciding to exit. Built in 1988, the asset is located on 2.8 acres at 600 N. Main St. Reed Gizinski, Jon Ruzicka and Joseph Ferguson of Marcus & Millichap represented the seller and procured the undisclosed buyer.
BROOKFIELD, WIS. — CBRE has brokered the sale of the 23,805-square-foot Calhoun Health Center in the Milwaukee suburb of Brookfield for an undisclosed price. The Class A medical office building is located at 1905 N. Calhoun Road and is fully leased and anchored by Froedtert ThedaCare Health in partnership with the Medical College of Wisconsin. The facility was completed in 2016. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the seller. The buyer was Chicago-based Remedy Medical Properties in a joint venture with Kayne Anderson Real Estate.
MAUSTON AND RACINE, WIS. — CBRE has arranged the sale of Riverwood Apartments and Biscayne Apartments, two multifamily properties totaling 112 units in Mauston and Racine, for $10.1 million. An Iowa-based multifamily investor and developer purchased the assets from an Iowa-based multifamily investor. CBRE’s Max Colby, Sean Beuche, Matson Holbrook, Patrick Gallagher and Gretchen Richards represented the seller. Riverwood Apartments is proximate to I-90 and minutes away from Decorah Lake. Built in 1994, the 32-unit property features a mix of one-, two- and three-bedroom floor plans. Biscayne Apartments is located at 5010 Biscayne Ave. Built in 1960, the asset features 80 units in a variety of one-, two- and three-bedroom floor plans.
OHIO, MICHIGAN AND WISCONSIN — MAG Capital Partners has purchased a 352,625-square-foot industrial portfolio in a sale-leaseback with Robbins Sports Surfaces, a Cincinnati-based manufacturer of high-performance flooring systems. The properties are located in Ohio, Michigan and Wisconsin and comprise manufacturing, warehouse, lumber processing, milling, finishing, assembly and office space across more than 111 acres. Phil DiGennaro and Joe DiGennaro of STREAM Capital Partners represented the seller.
SHEBOYGAN, WIS. — NAI Pfefferle has brokered the sale of two office buildings in Sheboygan totaling 64,736 square feet. The sales price was undisclosed, but the asking price was $3.7 million. The properties are located at 4135 and 4136 Sud Parkway. Dane Checolinski and Tom Fisk of NAI Pfefferle brokered the sale.
MADISON, WIS. — Midloch Investment Partners and Fountain Real Estate Capital have acquired Tradesmen Industrial, a 131,558-square-foot industrial property in Madison. The purchase price was undisclosed. Midloch and Fountain are co-investors in the facility, which can accommodate warehouse, distribution and manufacturing uses. The asset is fully leased to three tenants. Completed in 2023, the property is located at 5525 Tradesmen Drive and features a clear height of 32 feet, 14 loading docks and direct access to I-39, I-90, Highway 12 and Highway 18. Fountain will handle leasing and management for the property. Judd Welliver of CBRE brokered the sale. Mike Vannelli of CBRE arranged a new mortgage loan through Magnifi Financial on behalf of the buyers.
ANTIOCH, ILL. AND LAKE GENEVA, WIS. — Greystone has provided two Fannie Mae loans totaling $15.4 million for the refinancing of a 253-unit multifamily portfolio in Illinois and Wisconsin. Each of the two garden-style properties received a $7.7 million loan. Geneva Meadows Apartments is a 108-unit community in Lake Geneva, Wis., and Antioch Manor Apartments is a 145-unit property in Antioch, Ill. Kyle Jemtrud and Wilson Molitor of Greystone originated the nonrecourse loans, which feature fixed interest rates, seven-year terms, 30-year amortization schedules and interest-only payments for the entire term of the loan.
MOUNT PLEASANT, WIS. — Cushman & Wakefield | Boerke has arranged the sale of 18.1 acres of land in Mount Pleasant, a southern suburb of Milwaukee. The site, located near I-94, will be developed into a 280-unit garden-style apartment community. The buyer, Continental Properties, plans to break ground immediately. The seller was undisclosed.
CALEDONIA, WIS. — Lee & Associates has negotiated the $24.5 million sale of 223 acres of land in Caledonia within Southeast Wisconsin. The site was formerly known as South Hills Country Club. The transaction marks the largest land acquisition in Southeast Wisconsin since Microsoft acquired 467 acres in late 2023, according to Lee & Associates. Thomas Boyle of Lee & Associates represented the buyer, New York-based Ashley Capital, which plans to build a 4 million-square-foot industrial park on the site. Named South Hills Commerce Center, the project will feature 10 buildings ranging in size from 218,400 to 554,000 square feet. Hintz Real Estate Development Co. LLC was the seller.
WEST BEND, WIS. — CBRE has brokered the sale of Cast Iron Luxury Living, a 129-unit multifamily property in West Bend, about 39 miles northwest of Milwaukee. A partnership of local buyers purchased the asset from Hendricks Commercial Properties for $21 million. The property was formerly home to The West Bend Co., a cookware and appliance manufacturing-based business that had occupied the site since 1911. The asset was renovated in 2015 and converted into a mixed-use apartment community in 2017 with 45,748 square feet of ground-floor commercial space. Current tenants include Kettle Moraine YMCA, West Bend Pediatrics-Children’s Wisconsin and the West Bend Area Chamber of Commerce, along with restaurants Café Floriana and The Grün Hexe Kitchen & Catering. Cast Iron Luxury Living features a range of studio through three-bedroom units. Amenities include a business center, club and media room, garage parking, car spa and a self-service canteen convenience shop. Matson Holbrook, Patrick Gallagher, Gretchen Richards, Sean Beuche and Peter Langhoff of CBRE represented the seller.
