Wisconsin

HSA Acquires 45,029 SF of Retail Space Near Milwaukee

by Christina Cannon September 21, 2015

GREENFIELD, WIS. — HSA Commercial Real Estate has acquired a Barnes & Noble center consisting of two buildings for an undisclosed price. The center is located at 4935 76th St. in Greenfield, which is about 10 miles southwest from downtown Milwaukee. The shopping center consists of a 36,000-square-foot freestanding Barnes & Noble store and a 9,029-square-foot multi-tenant building. Tenants in the second building include Verizon Wireless, Print Graphix, Fox World Travel and Lady Jane’s Haircuts. Robert Mahoney and Christian Williams of CBRE represented the seller, Sun Life Financial. HSA Commercial Real Estate is a full-service real estate firm specializing in office, industrial, retail and health care real estate leasing, management, marketing, development and financing.

September 21, 2015

Hospitality Midwest Wisconsin

Marcus & Millichap Brokers $3.5M Sale of Hotel Property in Wisconsin Dells

by Christina Cannon September 18, 2015

WISCONSIN DELLS — Marcus & Millichap has brokered the sale of the Ramada Wisconsin Dells, a 71-room hotel. The Ramada sold for $3.5 million and is located at 1073 Frontage Road East in the Wisconsin Dells, a popular tourist destination along the Wisconsin River in the south central part of the state.The property is 37,909 square feet. Jon Ruzicka of Marcus & Millichap represented the undisclosed seller. Ruzicka, along with Matthew Fitzgerald, also represented the unidentified buyer. The deal marks the second hotel property sale that Ruzicka has brokered in the Wisconsin Dells over the past year.

September 18, 2015

Industrial Midwest Wisconsin

The Dickman Company Arranges 12,744 SF Industrial Lease in Wisconsin

by Amy Works September 8, 2015

OAK CREEK, WIS. — The Dickman Company Inc./CORFAC International has arranged the lease of 12,744 square feet of industrial space at 330 E. Mahn Court in Oak Creek. Waltco Inc. leased the space from Maggster LLC for an undisclosed price. Samuel Dickman Jr., Samuel Dickman and Cale Berg of The Dickman Company Inc. brokered the transaction.

September 8, 2015

Midwest Restaurant Retail Wisconsin

4,800 SF Panera Bread Location Sells for $2.3M in Southeast Wisconsin

by Amy Works September 3, 2015

DELAVAN, WIS. — An undisclosed developer has acquired a 4,800-square-foot building net leased to Panera Bread in Delavan, approximately 49 miles west of Kenosha, Wis. The purchase price of the property, located at 1905 Geneva St., was $2.3 million. Dominic Sulo and Chad Lieber of Marcus & Millichap’s Chicago Oak Brook office represented the seller, a private investor, and secured the buyer in the transaction.

September 3, 2015

Industrial Midwest Wisconsin

DTZ Brokers $4.8M Acquisition of Distribution Center in Wisconsin

by Amy Works September 1, 2015

WAUWATOSA, WIS. — DTZ has brokered the sale of a distribution center located at 1400 N. 113th St. in Wauwatosa. Wangard Investment Real Estate acquired the 196,000-square-foot facility for $4.8 million from 1400 North LLC. The divisible facility features climate-controlled warehouse space, cooler space, docks, drive-thru bays and rail access. Kevin Barry and David Buckley of Milwaukee-based DTZ Barry represented the buyer in the transaction.

September 1, 2015

Hospitality Loans Midwest Wisconsin

PMZ Arranges $8.1M Non-Recourse Loan for Harbourwalk Hotel in Racine, Wis.

by Jonathan Mehall August 20, 2015

RACINE, WIS. — PMZ Realty Capital LLC has arranged an $8.1 million non-recourse loan for the Harbourwalk Hotel, located at 223 Gas Light Circle in Racine, approximately 24 miles south of Milwaukee. The loan carries a fixed interest rate of below 4.5 percent. JP Morgan provided the funds to the owner, an affiliate of Graves Hospitality, which will be used to repay existing debt and renovate the hotel. The $2 million renovations, to be completed by next summer, will include a total refurbishment of the guest rooms and common areas to meet the standards for a Doubletree by Hilton Hotel. The property has been without a franchise and is converting to a DoubleTree by Hilton flag within the next 12 months.

August 20, 2015

A rendering of First Park 94 to be built in Somers, Wis.

Industrial Midwest Wisconsin

First Industrial Realty to Develop 309-Acre Business Park in Southeast Wisconsin

by Jeff Shaw August 11, 2015

SOMERS, WIS. — First Industrial Realty Trust Inc. (NYSE: FR) has unveiled plans to develop First Park 94, a master-planned business park in Somers, located eight miles north of the Illinois/Wisconsin border. First Park 94 will be built on 309 acres that First Industrial recently acquired for $13.4 million. Somers is situated in Kenosha, Wis., an industrial submarket of Chicago. The first phase of First Park 94 calls for the commencement of infrastructure work and construction of a 600,000-square-foot cross-dock distribution center featuring 36-foot clear heights, 185-foot truck courts, generous trailer parking, extensive dock-high loading, and an ESFR sprinkler system. In total, First Park 94 can accommodate approximately 4.6 million square feet of development including build-to-suits ranging from 150,000 square feet to 1.5 million square feet. The site is accessible to I-94 from three four-way interchanges and offers frontage along the Canadian Pacific Railway with potential rail access. First Park 94 is located less than one hour from both O’Hare International Airport in Chicago and Mitchell International Airport in Milwaukee. First Industrial’s development team for this project is comprised of Adam Moore, regional director; Chad Parrish, director of development; Jim Schlundt, operations director; and Brad Kluever, investment associate. As of June …

August 11, 2015

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 34,370 SF Industrial Building in Milwaukee

by Jeff Shaw August 10, 2015

MILWAUKEE, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 34,370-square-foot industrial building located at 2737 S. 31st St. in Milwaukee. The purchase price was not disclosed. K3 Cos. LLC purchased the building from the Tri-Capital Investment Group. Anthony Huenerbein of The Dickman Company brokered the transaction.

August 10, 2015

Midwest Restaurant Retail Wisconsin

Noble Chef Hospitality Opens First Restaurant in Milwaukee at 833 East

by Jonathan Mehall August 7, 2015

MILWAUKEE — Madison-based Noble Chef Hospitality will open its first Milwaukee restaurant, Rare Steakhouse, in Milwaukee’s newest downtown office building, located at 833 E. Michigan St. The white tablecloth steak and seafood restaurant will feature dry-aged Allen Brothers steaks along with more than 400 different wines. Noble Chef Hospitality also operates Rare Steakhouse On the Square in Madison, in addition to four other restaurants and bars in Madison. The 18-floor, 833 East building is expected to be completed by February 2016. Rare is expected to open in early 2016 and will feature seasonal outdoor seating. Josh Minkin of Alpine Commercial Real Estate is serving as procuring broker on the project.

August 7, 2015

Midwest Retail Wisconsin

Baum Realty Group Brokers $1.5M Sale of a Dollar Tree in Baraboo, Wis.

by Jonathan Mehall August 6, 2015

BARABOO, WIS. — Baum Realty Group has brokered the sale of a single-tenant, net leased Dollar Tree property located at 905 U.S. Highway 12 in Baraboo, approximately 47 miles northwest of Madison. The property sold for $1.5 million, which represents one of the lowest cap rates for a Dollar Tree property outside of California, with less than 10 years remaining on the lease term. Dollar Tree signed a new seven-year lease with no early termination clause. The new build-to-suit development is situated across the street from Walmart and Menards. Patrick Forkin and Brad Teitelbaum of Baum Realty Group represented the seller, a private developer, in the transaction. The buyer was a private investor from Minnesota.

August 6, 2015

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