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Wisconsin

AcquisitionsHospitalityMidwestWisconsin

Marcus & Millichap Arranges Sale of 107-Room Home2 Suites Hotel in La Crosse, Wisconsin

by Kristin Harlow

LA CROSSE, WIS. — Marcus & Millichap has arranged the sale of a 107-room Home2 Suites by Hilton hotel in La Crosse, a city in southwest Wisconsin on the Mississippi River. The sales price was undisclosed. Built in 2016, the four-story property features an indoor pool, business center and fitness center. Ebrahim Valliani, Michael Klar and Dan Danielak of Marcus & Millichap represented the seller, while Valliani and Klar procured the buyer. Both the buyer and seller were regional hotel ownership groups. Chris Gomes and Allan Miller of Marcus & Millichap provided additional support for the transaction, and Todd Lindblom, broker of record in Wisconsin, assisted in closing the sale.

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LoansMidwestMultifamilyWisconsin

KeyBank Arranges $98M for Refinancing of Three Multifamily Properties in Wisconsin

by Kristin Harlow

MADISON, MIDDLETON AND FRANKLIN, WIS. — KeyBank Real Estate Capital (KBREC) has arranged $98 million in fixed-rate Freddie Mac loans for the refinancing of three multifamily properties in Wisconsin. Axiom Properties was the borrower. The Meadows in Madison is a 404-unit complex built in 1979 and renovated in 2008. The property consists of 16 residential buildings along with two pool buildings and two sheds. The $39.6 million loan features a 10-year term, 35-year amortization schedule and five years of interest-only payments. Springtree Apartments is a 272-unit, garden-style property in Middleton. Built in 1970, the community features one-, two- and three-bedroom units with 39 garage parking spaces and 338 surface parking spaces. The $29.4 million loan features a five-year term, 35-year amortization schedule and two years of interest-only payments. Mission Hills Apartments is a 271-unit, garden-style community in Franklin. Built in 1971 and renovated in 2015, the property features 10 buildings as well as a community pool and pool equipment building. The loan features a seven-year term, 35-year amortization schedule and two years of interest-only payments. Samantha Miller and Tom Reynolds of KBREC arranged the financing.

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MidwestWisconsin

Brokerage Firm Hunter Real Estate Launches in Milwaukee

by Kristin Harlow

MILWAUKEE — Local commercial real estate veteran Matt Hunter has launched Hunter Real Estate LLC in Milwaukee. Hunter most recently served as an executive vice president at JLL. Hunter Real Estate will focus on representing local, privately owned companies on both the tenant and landlord side across all property types. The firm’s office is on the 26th floor of the Associated Bank River Center building, located at 111 E. Kilbourn Ave.

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AcquisitionsIndustrialMidwestWisconsin

Colliers Brokers Sale of 10-Building Industrial Portfolio in Cudahy, Wisconsin

by Kristin Harlow

CUDAHY, WIS. — Colliers has brokered the sale of a 10-building industrial portfolio known as Mitchell Industrial Park in Cudahy, a southern suburb of Milwaukee. The sales price was undisclosed. The portfolio totals 879,704 square feet and is 99 percent leased to 22 tenants, including DHL, National Packaging Services, Menasha Packaging and Fastenal. The buildings, constructed over the course of several decades, range in size from 24,000 to 212,000 square feet. The assets are located on the immediate southeast corner of Milwaukee Mitchell International Airport. Tom Shepherd, Jennifer Huber-Bullock, Bill Langhoff, Joe Langhoff, Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, an affiliate of Oak Realty Group Inc. A joint venture between DRA Advisors and Capital Partners purchased the portfolio. According to Colliers, the deal marked the largest industrial sale year to date in Wisconsin in terms of both size and value.

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AcquisitionsMidwestRetailWisconsin

Mid-America Negotiates Sale of 63,750 SF Shopping Center in Germantown, Wisconsin

by Kristin Harlow

GERMANTOWN, WIS. — Mid-America Real Estate Corp. has negotiated the sale of Germantown Plaza in the Milwaukee suburb of Germantown for an undisclosed price. The 63,750-square-foot shopping center is home to Aldi, Petco and Michaels, which have all operated at the property since 2003. Rick Drogosz, George Ghattas and Dan Rosenfeld of Mid-America represented the seller, Crown Group. HJ Development was the buyer.

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AcquisitionsIndustrialMidwestWisconsin

Transwestern Brokers Sale of Industrial Outdoor Storage Property in Hudson, Wisconsin

by Kristin Harlow

HUDSON, WIS. — Transwestern Real Estate Services has brokered the sale of a 7.1-acre industrial outdoor storage property in Hudson, about 30 miles east of Minneapolis. The asset is located at 2310 O’Neil Road. Chris Weirens of Transwestern represented the seller, Rajean LLC. Interstate Development purchased the asset for an undisclosed price.

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DevelopmentIndustrialMidwestWisconsin

Dermody Properties Breaks Ground on LogistiCenter at Pleasant Prairie in Wisconsin

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Dermody Properties has broken ground on LogistiCenter at Pleasant Prairie, a rail-served logistics park in southeast Wisconsin. WestRock, a sustainable packaging company, has signed a build-to-suit lease to occupy more than 580,000 square feet within the park. The project site was previously home to a power plant and sits adjacent to substations that can deliver power capacity and provide freshwater service from Lake Michigan. LogistiCenter at Pleasant Prairie is expected to include three buildings totaling 2.4 million square feet with the flexibility to accommodate build-to-suits ranging from 250,000 to 1.8 million square feet.

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AcquisitionsMidwestNAIOfficeWisconsin

NAI Pfefferle Negotiates Sale of 31,225 SF Office Building in Greenville, Wisconsin

by Kristin Harlow

GREENVILLE, WIS. — NAI Pfefferle has negotiated the sale of a 31,225-square-foot office building in Greenville, about 35 miles southwest of Green Bay. The sales price was undisclosed, but the asking price was $1.9 million. Amy Oelhafen of NAI Pfefferle brokered the sale of the property, which is located on Aerotech Drive.

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AcquisitionsHospitalityMidwestWisconsin

Apple Hospitality REIT Acquires Embassy Suites Hotel in Madison, Wisconsin, for $79.5M

by Kristin Harlow

MADISON, WIS. — Apple Hospitality REIT Inc. has acquired the 262-room Embassy Suites by Hilton Madison Downtown hotel for $79.5 million. The seller was undisclosed. The newly built property is located at 231 S. Pinckney St. near Monona Terrace Community and Convention Center as well as the Wisconsin State Capitol. Apple’s portfolio includes 224 hotels with 30,066 guest rooms throughout 37 states and Washington, D.C.

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AcquisitionsMidwestRetailWisconsin

Colliers Brokers $3.4M Sale of Two-Tenant Retail Property in Janesville, Wisconsin

by Kristin Harlow

JANESVILLE, WIS. — Colliers has brokered the $3.4 million sale of a 5,500-square-foot retail property in the Milwaukee suburb of Janesville. Home to Starbucks and LensCrafters, the newly constructed building serves as an outlot to Uptown Janesville Mall. Adam Connor and Heather Dorfler of Colliers represented the seller, Houston-based RockStep Capital. The all-cash buyer was based in California and completed a 1031 exchange.

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