MONONA, WIS. — Lee & Associates has arranged two new leases for a 4,900-square-foot new construction retail building located at 103 W. Broadway. Qdoba Mexican Grill will occupy 2,500 square feet and Mr. Brews Taphouse will occupy 2,400 square feet at the new property. Both restaurants will open this fall. Steve Doran of Lee & Associates Madison represented the landlord in both transactions. Galway Companies, Inc. is developing and will be manage the property.
MERRILL, WIS. — Cohen Financial has arranged a $6.3 million refinancing loan for Merrill Ridge Plaza, a mixed-use retail and office center located at 3404-3500 East Main Street in Merrill. Merrill Ridge Plaza is a 122,919-square-foot property that’s 97 percent leased. Anchor tenants include Piggly Wiggly, Dollar Tree and Church Mutual Insurance Co. Don Trossman of Cohen Financial’s Chicago office secured the fixed-rate loan that includes a 20-year amortization schedule with River Valley Bank, a regional bank. Martin Graff of M.H. Graff & Associates represented the borrower, Focused Retail-Merrill Ridge LLC.
FRANKLIN, WIS. — Marcus & Millichap has arranged the $33 million sale of two industrial buildings totaling 418,000 square feet in Franklin, approximately 20 miles south of Milwaukee. The properties are 1 and 2 World Packaging Circle, located within the 425-acre Franklin Business Park with frontage on South Oakwood Park Drive and Ryan Road. The property has access to I-94, I-894, U.S. Highway 41, U.S. Highway 45 and State Trunk Highway 36. The two facilities were built of precast tilt-up concrete on 37.6 acres in 2006. Features at the properties include 30-foot to 40-foot ceiling heights, enclosed docks, two 75-ton cranes, two 10-ton cranes and heated underground parking. Thomas Kopatich of Marcus & Millichap’s Milwaukee office represented the seller, a local business person, and the buyer, a private equity fund.
PLATTEVILLE, WIS. — Hunt Mortgage Group has arranged a $3.4 million Fannie Mae loan facility to refinance Prairie View Apartments, a 56-unit multifamily property in Platteville. The property is located at 1300, 1350, 1365 and 1435 Cody Parkway. Prairie View Apartments includes efficiency, one-, two- and three-bedroom units. The 12-year loan includes a 30-year amortization schedule. Hunt Mortgage Group arranged the loan for the borrower, a Wisconsin-based limited liability company that was formed in April 2008 and is backed by Robert Cody. Cody owns R. Cody Real Estate Development, a full service real estate development company.
MILWAUKEE — Siegel-Gallagher has arranged a 17,432-square-foot office lease in Milwaukee. Robertson Ryan & Associated Inc. will occupy space within Plaza East Office Center located at 330 E. Kilbourn Ave. Shaun Dempsey and John Kuhn of Siegel-Gallagher represented the tenant in the transaction. Tishman Speyer was the landlord.
WEST ALLIS, WIS. — DTZ Barry has brokered the sale of a 69,820-square-foot distribution center in West Allias. 1650 S. 108th St. LLC purchased the industrial property, which is located at 1650 S.108th St., from DDP LLC. Jim Young and Kurt Van Dyke of DTZ Barry brokered the transaction. Investor 1650 S. 108th St. will lease the property to Hajoca Corp., a privately held distributor of plumbing, heating and industrial supplies.
KENOSHA, PEWAUKEE AND MENOMONEE FALLS, WIS. — Zilber Property Group will break ground on three industrial spec buildings located throughout southeast Wisconsin this spring. The properties include Zilber Industrial I at Business Park in Kenosha; Zilber Industrial I at RidgeView Corporate Park in Pewaukee; and Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls. The Kenosha property includes 30-foot ceiling heights and will accommodate industrial users ranging from 27,000 to 173,000 square feet. The Pewaukee facility includes 28-foot ceiling heights and will accommodate tenants from 20,000 to 113,000 square feet. Zilber Industrial I at Lilly Creek Business Park in Menomonee Falls will be the first of two industrial facilities to be built at the site. The first facility will include 30-foot ceiling heights and can accommodate users ranging from 22,000 to 146,000 square feet. The second facility will include 30-foot ceiling heights and will be able to accommodate up to 180,000 square feet.
LAKE GENEVA, WIS. — Cohen Financial has arranged an $11 million refinancing loan for Geneva Square, a retail center in Lake Geneva. The 169,692-square-foot property is 98 percent leased and is located at Interchange N and US-12. Anchor tenants include a 50,000-square-foot Piggly Wiggly and the 63,000-square-foot Aurora Health Center, a health care provider. Don Trossman of Cohen Financial secured the fixed-rate, seven-year loan, which includes a 25-year amortization schedule. The borrower is Lake Geneva Investors LLC. Schermerhorn Commercial Real Estate of Illinois manages the property. Geneva Square was built in 1980. The current owner purchased the property in 1999. Aurora Health Center became a tenant in 2005, and the Piggly Wiggly franchisee has been a tenant in the property since it was built.
BROOKFIELD, WIS. — Land assembly at The Corners of Brookfield mixed-use development in Brookfield is now complete. Brookfield Corners LLC, a joint venture between IM Properties, Bradford Real Estate and The Marcus Corporation, is developing the $200 million project. The development, which is bordered by West Bluemound Road, North Barker Road and I-94 in Brookfield, will serve as a destination for luxury shopping, dining and entertainment. Plans call for 400,000 square feet of retail and restaurant space anchored by Wisconsin’s first ever Von Maur Department Store, as well as 235 luxury apartments that will be managed by Milwaukee-based Mandel Group. With the entire 19-acre site now under ownership of Brookfield Corners LLC, the project will move toward a groundbreaking, which is set for mid-April. Demolition of the former Menards buildings and the former Marcus Theater is complete, with demolition of the adjoining strip mall also near completion.
SHEBOYGAN, WIS. — Siegel Gallagher Inc. has arranged the sale of Memorial Mall, a 367,147-square-foot shopping center in Sheboygan. Meijer Stores Limited Partnership, a subsidiary of Michigan-based grocer Meijer Inc., purchased the property for $10.7 million. NRFC Memorial Holdings LLC, a subsidiary of Northstar Realty Finance Corp., sold the property, which is located at 3347 and 3353 Kohler Memorial Drive. The transaction included the acquisition of the adjoining Sears Property, which was acquired by the seller in late 2014 from Sears Holding Corp. Sears has since vacated the property. Memorial Mall was developed by Simon in 1983. Tenants include Kohl’s Department Stores, Bed Bath and Beyond and Hobby Lobby. The property was acquired by the seller through foreclosure in 2011. Siegel Gallagher Management Co. was initially the court-appointed receiver and has managed the property for the seller since 2011. John Kuhn and Matt Chappell of Siefel Gallagher represented the seller. Michael Stratis of Intrepid Properties and Robert Flood of RFP Commercial represented the buyer.