RACINE, WIS. — Mid-America Real Estate Corp.’s investment sales team has arranged the sale of Regency Point Shopping Center, a 163,252-square-foot retail center located in Racine, approximately 30 miles south of Milwaukee. Bed Bath & Beyond, DSW, Hobby Lobby and T.J. Maxx anchor the center. Rick Drogosz, Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, The Redmond Co., in the sale of the property to Bonnie Management Corp. for an undisclosed price.
WAUWATOSA, WIS. — Siegel-Gallagher has arranged a 3,728-square-foot office lease at The Forum in Wauwatosa, approximately seven miles west of Milwaukee. Larson Engineering Inc. will occupy the space at 3333 N. Mayfair Road. Mayfair Forum LLC is the landlord. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.
BLACK RIVER FALLS, WIS. — Marcus & Millichap has arranged the $4.4 million sale of Comfort Inn & Suites Black River Falls. The 75-room hotel was originally constructed in 1997 as a Holiday Inn Express & Suites. The property is located at W10170 Highway 54 E. in Black River Falls, approximately 53 miles southeast of Eau Claire. Amenities include a porte-cochère, indoor pool and whirlpool and meeting space. Jon Ruzicka of Marcus & Millichap listed the property on behalf of the seller, a limited liability company. Ruzicka also secured the buyer, a private investor.
MILWAUKEE — Healthcare Business Insights (HBI) has signed a 24,016-square-foot office lease to occupy the entire 15th floor of 411 East Wisconsin Center, a 654,000-square-foot Class A office tower owned by Riverview Realty Partners. The lease brings the 30-story building to 89 percent occupancy. Riverview Realty Partners has completed a $15 million renovation that included an updated lobby, conference center, new elevators, a new HVAC systems and an upgraded parking structure. Tenants at the office building include Quarles & Brady LLP, von Briesen & Roper, Northwestern Mutual, Morgan Stanley, Wisconsin Athletic Club, PNC Bank and others.
DELAFIELD, WIS. — Associated Bank has provided an $11.4 million acquisition loan for a retail property in Delafield, approximately 30 miles west of Milwaukee. Schermerhorn & Co./Heritage-Hillside LLC was the borrower. The 102,700-square-foot shopping center is located at 2720-2850 Heritage Drive and 2725 Hillside Drive. The retail center is situated on an outparcel to a Walmart. Tenants at the 90 percent occupied center include Office Max, Petco, Dollar Tree, Great Clips, Sears Appliance, Subway and Dairy Queen. Schermerhorn & Co. has managed the property for over 18 years.
BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 36,106-square-foot building formerly occupied by Grasch Foods. TMPN Lilly LLC purchased the building located at 13950 W. North Ave. in Brookfield, a western suburb of Milwaukee, for an undisclosed price. GSG Realty LLC was the seller. Samuel D. Dickman and Samuel M. Dickman Jr. of The Dickman Company were the sole brokers in the transaction.
CALEDONIA, WIS. — The Dickman Company Inc./CORFAC International has negotiated a 9,000-square-foot lease in Caledonia, approximately 20 miles south of Milwaukee. Educators Credit Union will occupy the industrial building, which is located at 289 27th St. Ninneman Properties II LLC is the landlord. Cale Berg of The Dickman Company Inc. was the sole broker in the transaction.
WEST ALLIS, WIS. — Blueprint Healthcare Real Estate Advisors, a brokerage based in Chicago, has arranged the $6.5 million sale of Lamplight Inn of West Allis, a 118-unit assisted living community in the Milwaukee suburb of West Allis. The seller was a private ownership group looking to divest non-core assets. The buyer is a publicly traded REIT, which will continue leasing the property to the current operator. None of the specific companies involved in the transaction were disclosed. The purchase price equates to approximately $55,000 per unit. Ben Firestone and Jacob Gehl led the Blueprint team, supported by Mike Segal and Mario Wilson.
HUDSON, WIS. — Marcus & Millichap has arranged the $4.5 million sale of the Holiday Inn & Suites Hudson, a 68-room hotel located in Hudson, approximately 27 miles east of Minneapolis. An undisclosed partnership sold the asset, located at 1200 Gateway Blvd., to a private investor. Jon Ruzicka of Marcus & Millichap listed the property on behalf of the seller. Ruzicka, along with Matthew Fitzgerald of Marcus & Millichap, also secured the buyer.
WEST ALLIS, WIS. — Siegel-Gallagher has brokered the sale of a multifamily property in West Allis, approximately six miles from Milwaukee, for an undisclosed price. The Community Development Authority of the City of West Allis purchased the eight-unit building from the Milwaukee Center for Independence. The property is located at 7402 W. Washington Ave. Patrick Gallagher, Matson Holbrook and Max Schultz of Siegel-Gallagher brokered the transaction.
