KENOSHA, WIS. – The Dickman Co./CORFAC International has arranged the sale of a 7,000-square-foot industrial building in Kenosha for an undisclosed price. Bone Dry Products Inc. purchased the facility located at 9009 58th Place from Neal R. Rusecki and Nancy J. Rusecki. Zach Noble and Cale Berg of The Dickman Co. represented the seller in the transaction. Mike Pitts Jr. of Pitts Brothers & Associates represented the buyer.
WEST ALLIS, WIS. — The Dickman Co./CORFAC International completed the sale of a 55,588-square-foot industrial building in West Allis, approximately six miles west of Milwaukee, for an undisclosed price. RONK 2030 LLC purchased the building located at 2030 S. 116th St. from Anton & Shirley Stricker Trust Number One. Samuel M. Dickman Jr., Samuel D. Dickman and Anthony Huenerbein of the Dickman Co. represented the seller in the transaction. Gary Kohlenberg represented the buyer.
ALLENTOWN, PA. — Allentown-based CrossAmerica Partners LP has agreed to acquire 31 franchised Holiday convenience stores located in Wisconsin and Minnesota from SSG Corp. for $48.5 million. Of the 31 company-operated stores, 28 are located in Wisconsin and three are located in Minnesota. The acquisition is subject to customary conditions to closing and is expected to close in the first quarter of this year.
KENOSHA, WIS. — Continental Properties has purchased land for the future development of an apartment project in Kenosha, approximately 40 miles south of Milwaukee. North Shore Bank sold a 48.5-acre land parcel to Continental Properties for $2.6 million. Continental Properties plans to develop 280 units in Phase I and an additional 200 units in Phase II. Phase I is scheduled to start this spring. Upon completion, the project can be accessed from 125th Avenue or 71st Street. Andrew Stefanich of CBRE was the sole broker for the land parcel transaction.
MILWAUKEE, WIS. — The Boulder Group has brokered the sale of a 16,709-square-foot medical property in Milwaukee for $3.6 million. Aurora Health Care is the sole tenant of the property located at 5818 W. Capitol Drive. The property is positioned as an outparcel to the Midtown Center, which is anchored by Walmart and Pick ‘n Save. The Midtown Center also includes tenants such as Planet Fitness, Firestone, Foot Locker, GNC, Rue 21 and Starbucks. The property was built in 1997, and Aurora Health Care’s lease expires in 2027. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller in the transaction, a Midwest-based real estate investment company. The buyer is an East Coast-based real estate investment fund and was self-represented.
NEW BERLIN, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of an 18,144-square-foot industrial building in New Berlin, approximately 15 miles west of Milwaukee. Abraham Holding LLC purchased the building, located at 2805 S. 160th St., from ZAP LLC. David Buckley of The Barry Co. represented the seller in the transaction, and Anthony Huenerbein of Dickman represented the buyer.
BROOKFIELD, WIS. — CBRE has arranged a 5,202-square-foot office lease renewal in Brookfield, approximately 13 miles west of Milwaukee. Lueder Financial Group LLC renewed the office space located at 20300 Water Tower Blvd. from Janesville LLP, the landlord. Lueder Financial Group is part of Northwestern Mutual. Matt Cariello, Bill Bonifas and Matt Hunter of CBRE represented the tenant in the transaction.
MENOMONIE, WIS. — Marcus & Millichap has brokered the $1.6 million sale of a 44-unit portfolio in Menomonie, approximately 25 miles west of Eau Claire. The six-building portfolio consists of five residential buildings that contain 44 total units and one eight-stall garage building. The 44 units are broken down into 36 two-bedroom/one-bathroom units and eight one-bedroom/one-bathroom units. The six buildings were constructed between 1977 and 1987. The apartment assets have undergone upgrades including roof replacement, vinyl siding, and new windows, flooring and appliances. Evan Miller, Mox Gunderson and Dan Linnell of Marcus & Millichap listed the property on behalf of the seller, a private investor. Cole Harstad of Marcus & Millichap procured and represented the buyer, a private investor.
HARTFORD, WIS. — Siegel-Gallagher has arranged the sale of a 2,100-square-foot office building in Hartford, approximately 40 miles northwest of Milwaukee, for an undisclosed price. The Thomas L. Kissel and Ruth R. Kissel Revocable Trust sold the property known as the Kissel Law Office to an undisclosed buyer. The building is located a 6140 W. State Road 60. Devin Tessmer of Siegel-Gallagher brokered the transaction.
MEQUON, WIS. — Cushman & Wakefield has arranged the recapitalization of Newcastle Place, a 257-unit retirement community located in the affluent Milwaukee suburb of Mequon. Cushman & Wakefield served as an advisor to a venture between Westminster Capital and LCS. ROC Seniors, a private equity real estate fund manager, will replace Westminster Capital in the joint venture with LCS. Terms of that deal were not disclosed. Life Care Services, the management arm of LCS, will continue to manage the community. Newcastle is located on a 48.5-acre campus and consists of 158 independent living units, 36 assisted living units, 16 memory care units and 47 skilled nursing beds. The community was originally built in 2003. Westminster Capital and LCS acquired Newcastle from Milwaukee Protestant Home in late 2012 as a turnaround investment. In addition to the sale, Cushman & Wakefield acted as exclusive debt placement agent to the acquisition group arranging the financing with Bank of America Merrill Lynch. The Cushman & Wakefield team involved in this transaction included Richard Swartz, Jay Wagner, Aaron Rosenzweig, Stuart Kim and Caryn Miller. Faegre Baker Daniels LLP served as legal counsel to the Westminster Capital/LCS venture on this transaction.