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Wisconsin

AcquisitionsMidwestRetailWisconsin

Marcus & Millichap Brokers $3.6M Sale of Retail Strip Center in Whitewater, Wisconsin

by Kristin Harlow

WHITEWATER, WIS. — Marcus & Millichap has brokered the $3.6 million sale of Whitewater Plaza, a 24,211-square-foot retail strip center in Whitewater, about 50 miles southwest of Milwaukee. Located at 1139 W. Main St., the property is 94 percent occupied by tenants such as Jimmy Johns, Anytime Fitness, Cozumel Mexican Restaurant and Beijing Buffet. Dominic Sulo and Sam Malato of Marcus & Millichap represented the undisclosed seller. The buyer was also undisclosed. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

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AcquisitionsHospitalityMidwestWisconsin

Marcus & Millichap Negotiates $3.4M Sale of Harbor Town Inn & Suites Hotel in Manitowoc, Wisconsin

by Kristin Harlow

MANITOWOC, WIS. — Marcus & Millichap has negotiated the $3.4 million sale of Harbor Town Inn & Suites, an 80-room hotel in Manitowoc along Lake Michigan. Built in 1978 and located at 4004 Calumet Ave., the property is independently operated. Amenities include a business center, game room, onsite laundry and outdoor patio. Jared Plamann and Jake Erickson of Marcus & Millichap represented the seller, a family that had owned the property for 34 years, and procured the local buyer. Todd Lindblom, broker of record in Wisconsin, assisted in closing the transaction.

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AcquisitionsMidwestNAIOfficeWisconsin

NAI Pfefferle Arranges Sale of 17,000 SF Office Building in Baldwin, Wisconsin

by Kristin Harlow

BALDWIN, WIS. — NAI Pfefferle has arranged the sale of a 17,000-square-foot office building in Baldwin, about 50 miles east of Minneapolis. The property is located at 890 Spruce St. The sales price was undisclosed, but the asking price was $2.3 million. TJ Morice of NAI Pfefferle and Don Timmerman of Keller Williams brokered the sale.

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Negotiates Sale of Two Apartment Properties in Madison, Wisconsin, for $34M

by Kristin Harlow

MADISON, WIS. — CBRE has negotiated the sale of Royster Commons and 515@Royster, two apartment properties totaling 174 units in Madison. Weidner Apartment Homes purchased the communities from Ruedebusch Development & Construction for $34 million. Gretchen Richards, Patrick Gallagher, Matson Holbrook and Ted Nevermann of CBRE represented the seller. CBRE also provided acquisition financing for the buyer. Built in 2019, Royster Commons includes 86 units averaging 956 square feet each. Constructed in 2022, the 88-unit 515@Royster features floor plans averaging 791 square feet each.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges Sale of 204-Unit Sun Valley Apartments in Fitchburg, Wisconsin

by Kristin Harlow

FITCHBURG, WIS. — Marcus & Millichap has arranged the sale of Sun Valley Apartments in Fitchburg, a southern suburb of Madison. The sales price was undisclosed. Built in 1975 and renovated in 2011, the multifamily property consists of 204 units across 12 buildings. Amenities include a fitness center, playground, leasing office and wooded green spaces. Matthew Whiteside of Marcus & Millichap represented the seller, Sierra West LLC, and procured the buyer, Monarch Investment and Management Group.

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AcquisitionsMidwestMultifamilySeniors HousingWisconsin

ESI Brokers Sale of 186-Bed Samaritan Health Center in West Bend, Wisconsin

by Kristin Harlow

WEST BEND, WIS. — Evans Senior Investments (ESI) has brokered the sale of Samaritan Health Center, a county-owned facility in West Bend, about 30 miles north of Milwaukee. The community was originally built in 1969 and renovated in 2009. The property offers three licensed programs: a skilled nursing facility, an assisted community-based residential facility (CBRF) and a supportive living, apartment-style residential care apartment complex (RCAC). Altogether, the center provides 186 beds, including 131 skilled nursing beds, 24 RCAC beds and 31 CBRF beds. According to ESI, Samaritan Health Center was 33 percent occupied at the time of marketing and struggling with negative cash flows. The property also needed substantial renovations. An independent owner-operator purchased the asset for an undisclosed price.

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AcquisitionsIndustrialMidwestWisconsin

Founders 3 Negotiates $6.6M Sale of Industrial Property in Waukesha, Wisconsin

by Kristin Harlow

WAUKESHA, WIS. — Founders 3 Real Estate Services has negotiated the sale of a 115,500-square-foot industrial property in Waukesha for $6.6 million. The asset is located at 21027 Crossroads Circle. Bob Flood of Founders 3 represented the seller, Kalmbach Media Co. Silgan Containers was the buyer.

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CivicDevelopmentMidwestWisconsin

Kraus-Anderson Performs Renovation Projects for Grantsburg School District in Wisconsin

by Kristin Harlow

GRANTSBURG, WIS. — Kraus-Anderson has completed renovations and additions for the Grantsburg School District in northwest Wisconsin. DSGW Architects designed the projects. A 26,000-square-foot addition to Grantsburg Elementary replaced the closed Nelson Elementary School by adding 13 new classrooms and a gym. The $14.8 million project also included a 34,000-square-foot renovation for Pre-K and Kindergarten classrooms, art/music classrooms, restrooms, a kitchen, cafeteria and improved bus drop-off area. A 10,000-square-foot addition to Grantsburg High School included a new entrance and office. The $9.9 million project also comprised a 10,000-square-foot renovation for the cafeteria/commons area, public restrooms, concessions, a new team classroom and improvements to the traffic flow, parking and water drainage. Grantsburg Middle School received a revamped parent drop-off area and parking to improve traffic flow.

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DevelopmentMidwestRetailWisconsin

Principle Construction Completes 12,560 SF Retail Showroom for Doheny’s in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — Principle Construction has completed a new 12,560-square-foot showroom and outdoor pool park for Doheny’s, a pool and spa distributor, at 5307 Green Bay Road in Kenosha. Doheny’s purchased the property, which is down the block from its original location. Principle updated the interior and exterior image of the building and designed and constructed an outdoor pool display. The building totals 17,275 square feet, including the 12,560-square-foot showroom, 3,370 square feet of warehouse space and 920 square feet of office space. Constructed in 1990 and renovated in 2003, the facility needed several updates to bring it to modern standards, according to Principle. On the exterior, Principle re-built the parking lot and created a pool park with space to display six full-size pools. Partners in Design was the project architect.

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AcquisitionsMidwestRetailWisconsin

Axiom Realty Acquires 110,266 SF Park Plaza Shopping Center in Manitowoc, Wisconsin

by Kristin Harlow

MANITOWOC, WIS. — Axiom Realty has acquired Park Plaza, a 110,266-square-foot shopping center in Manitowoc, an eastern Wisconsin city along Lake Michigan. The purchase price was undisclosed. The property was 71.6 percent occupied at the time of sale. Erin Patton of Institutional Property Advisors brokered the sale. Time Equities Inc. was the seller. Prior to closing, Axiom negotiated a long-term lease extension with Hobby Lobby and completed lease negotiations with a national outlet provider for 28,894 square feet, bringing overall occupancy to 97.9 percent. Some of the other tenants include Community First Credit Union, Family Dollar and Cricket Wireless.

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