REBusinessOnline

Lee & Associates Negotiates $1.8M Sale of Development Site in Fitchburg, Wisconsin

FITCHBURG, WIS. — Lee & Associates has negotiated the $1.8 million sale of a 3.7-acre development site in Fitchburg, a suburb of Madison. Blake George and Chris Etmanczyk of Lee & Associates represented the seller, Orchard Pointe Development Co. Inc. JTK Limestone Ridge LLC was the buyer. Plans for the site include the construction of apartments, both market-rate and workforce

American Street Capital Arranges $8M Acquisition Loan for Multifamily Portfolio in Kenosha, Wisconsin

KENOSHA, WIS. — American Street Capital (ASC) has arranged an $8 million loan for the acquisition of a two-property, 108-unit multifamily portfolio in Kenosha. Built in the early 1970s, the portfolio features a mix of one-, two- and three-bedroom units. Both complexes were more than 95 percent leased at closing. Igor Zhizhin of ASC originated the seven-year agency loan. It features a fixed interest rate with two years of interest-only payments and a 30-year amortization

Coldwell Banker Commercial Arranges $4M Sale of Industrial Building in Delavan, Wisconsin

DELAVAN, WIS. — Coldwell Banker Commercial has arranged the $4 million sale of a 100,000-square-foot industrial building in Delavan, about 45 miles southwest of Milwaukee. Built in 2019, the property sits on 17.4 acres at 2153 Hobbs Drive. The building features a clear height of 30 feet, eight docks and one drive-in door. Bill Mears and Adam Schultz of Coldwell Banker Commercial McGuire Mears & Associates represented both the buyer and seller in the transaction. The buyer, Prop Shaft …

Kohl’s Rejects Investor Group Takeover Attempt

MENOMONEE FALLS, WIS. — Kohl’s Corp. (NYSE: KSS) has rejected the attempt by an investor group to seize control of its board of directors, saying the effort would disrupt the company's momentum and growth strategy. The investor group consists of Macellum Advisors GP LLC, Legion Partners Holdings LLC, Ancora Advisors LLC and 4010 Capital LLC.The Kohl’s board and management team had been engaged in discussions with the group since early December, but this week was the first time the …

Evergreen Trading Acquires 179,000 SF Distribution Center in Wisconsin

RHINELANDER, WIS. — Evergreen Trading has acquired a 179,000-square-foot distribution center in Rhinelander in northern Wisconsin. The purchase price was undisclosed. Formerly occupied by Petco, the facility features 150,000 square feet of warehouse space, 20,000 square feet of office space and 9,000 square feet of cold storage space. Justin Felix and Andy Lubinski of CBRE represented Petco in the sale. David Opper of CBRE represented Evergreen, which is a financial solutions and media …

Colliers Arranges $23.5M Sale of Whole Foods-Occupied Property in Milwaukee

MILWAUKEE — The Wisconsin investment services team of Colliers International has arranged the sale of a Whole Foods Market-occupied property in Milwaukee for $23.5 million. The sales price represents a cap rate of 5.5 percent. Located at 2305 N. Prospect Ave., the 53,875-square-foot store is part of the commercial space at Prospect Medical Commons. Adam Connor of Colliers represented the seller, a Seattle-based private investor. California-based ExchangeRight Real Estate LLC purchased the …

Colliers Brokers Sale of 1.2 MSF Industrial Portfolio in Minnesota, Wisconsin

MINNESOTA AND WISCONSIN — Colliers International has brokered the sale of a six-building industrial portfolio spanning 1.2 million square feet in Minnesota and Wisconsin. The sales price was undisclosed. One of the buildings is in Lino Lakes, Minn.; two are in Pewaukee, Wis.; two are in Milwaukee; and one is in Menomonie, Wis. Tom Shepherd and Mark Kolsrud of Colliers brokered the transaction. All six properties are fully leased. Minneapolis-based Biynah Industrial Partners and Maryland-based …

Kohl’s: Comparable Sales Decrease 11 Percent in Fourth Quarter

MENOMONEE FALLS, WIS. — Kohl’s Corp. (NYSE: KSS) has reported that its comparable sales decreased 11 percent and total revenue declined 10 percent in the fourth quarter compared with the year prior. The fourth quarter for Kohl’s ended Jan. 30. However, this is the third consecutive quarter of sequential improvement, according to the Menomonee Falls-based retailer. The fourth-quarter performance exceeded expectations across all key metrics, according to CEO Michelle Gass. Additionally, …

KeyBank Structures $29.3M in Construction Financing for Affordable Housing Property in Wisconsin

FITCHBURG, WIS. — KeyBank has structured $29.3 million in financing for the construction of Limestone Ridge Apartments in Fitchburg, a suburb of Madison. The four-story project will be home to 116 units that are designated for households earning between 50 and 80 percent of the area median income. Madison-based JT Klein Co. is the developer. KeyBank Community Development Lending and Investment provided a $16 million construction loan, while KeyBank’s Commercial Mortgage Group originated a …

Newmark Negotiates $100M Sale of Manufactured Housing Community Across Five States

ILLINOIS, INDIANA, KENTUCKY, NEBRASKA AND WISCONSIN — Newmark has negotiated the sale of the Midwest MHC Portfolio for $100 million. The portfolio spans 21 manufactured housing communities comprising 2,789 sites throughout Illinois, Indiana, Kentucky, Nebraska and Wisconsin. The portfolio was 83 percent occupied at the time of sale. Andrew Shih and Todd Fletcher of Newmark’s Manufactured Housing Group represented the undisclosed seller. Salt Lake City-based private investment group OZ …

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