Wisconsin

Proposed New Arena for Milwaukee Bucks Could Lead to Development Run

by Jeff Shaw August 6, 2015

An article highlighting the fortunes of the Milwaukee Bucks that appeared July 6 on CBSSports.com couldn’t be more accurate. “There’s something powerful and sustainable growing in Milwaukee, rising out of the weeds of small-market irrelevance and into a team you’re going to want to watch next season,” wrote Matt Moore who covers the NBA. Since New York hedge fund investors Wes Edens and Marc Lasry purchased the Bucks last year for $550 million, the team has been on the rise. Founded as an expansion team in 1968, the Bucks went from being the worst team in the league during the 2013-14 season to the sixth seed in the 2014-2015 playoffs. The new owners, along with former owner Herb Kohl, have committed $250 million for the construction of a new $500 million arena as a replacement for the team’s current home, BMO Harris Bradley Center, which opened in 1988. But if the new arena is not built by the 2017 season, Milwaukee could be left without an NBA team. Once complete, the entire development, which would sit on approximately 30 acres in the Park East corridor, could include up to 3 million square feet of office, entertainment, retail, residential and hotel …

August 6, 2015

Industrial Midwest Wisconsin

Joint Real Estate Fund Acquires 114,000 SF Warehouse Building in Wauwatosa, Wis.

by Jonathan Mehall August 4, 2015

WAUWATOSA, WIS. — A joint real estate fund formed by Innovative Capital Advisors (ICA) and HSA Commercial Real Estate has closed on the acquisition of the 114,000-square-foot Wauwatosa Business Plaza. The industrial building is located at 3031 N. 114 St. in Wauwatosa, seven miles west of Milwaukee. Terms of the acquisition were not disclosed. The industrial plaza shares a lighted intersection with The Mayfair Collection, a 270,000-square-foot retail shopping center. The plaza is currently 50 percent occupied by warehousing tenants including a Habitat for Humanity ReStore donation center and resale shop. ICA and HSA do not have any immediate redevelopment plans for the property. James Barry, Kevin Barry and David Barry of DTZ Barry represented the undisclosed seller in the transaction.

August 4, 2015

Industrial Midwest Wisconsin

Dickman Company Brokers Sale of 52,820 SF Industrial Building in Menomonee Falls, Wis.

by Jonathan Mehall July 31, 2015

MENOMONEE FALLS, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 52,820-square-foot building located at Megal Drive in Menomonee Falls, 20 miles northwest of Milwaukee. Terms of the transaction were undisclosed. Jablonka Investments LLP purchased the building from the Jerona LLC. Samuel Dickman Jr., Samuel Dickman and Nick Keys represented the seller. Trent Poole of CBRE represented the buyer in this transaction.

July 31, 2015

Midwest Retail Wisconsin

Marcus & Millichap Sells Net Leased Department Store in Eau Claire, Wis. For $12.45M

by Jonathan Mehall July 28, 2015

EAU CLAIRE, WIS. — Marcus & Millichap has brokered the sale of a net leased department store at 955 W. Clairemont Ave. in Eau Claire, 93 miles east of Minneapolis. The sales price was $12.45 million, which at 94,705 square feet, equates to $131 per square foot. The Shopko building was originally built in 1978 and was renovated in 1992. The store sits on approximately 9 acres of land, with a location that benefits from a rent per square foot that is well below market. Headquartered in Green Bay, Wis., Shopko Stores Operating Co. LLC is a $3 billion retailer that operates more than 330 stores in 21 states. Listing agent Glen Kunofsky of Marcus & Millichap’s Manhattan office procured the undisclosed buyer.

July 28, 2015

Midwest Wisconsin

The Dickman Company Arranges Sale of 119,000 SF Building in Brown Deer, Wis.

by Jonathan Mehall July 24, 2015

BROWN DEER, WIS. — The Dickman Company, Inc./CORFAC International has completed the sale of a 119,000-square-foot building located at 6700 West Brown Deer Road in Brown Deer, 13 miles north of Milwaukee. The terms of the transaction were not disclosed. Brown Deer 6700 LLC purchased the building from the Community Development Authority of the Village of Brown Deer. Samuel M. Dickman Jr. and Samuel D. Dickman were the brokers involved in this transaction.

July 24, 2015

Industrial Midwest Wisconsin

The Dickman Company Brokers 160,000 SF Industrial Lease in West Bend, Wis.

by Jonathan Mehall July 23, 2015

WEST BEND, WIS. — The Dickman Company Inc./CORFAC International has brokered a 160,000-square-foot industrial lease for Gardner Pet Group Inc. in West Bend, about 38 miles northwest of Milwaukee. A pet food distributor, Gardner is moving its manufacturing operations and up to 60 jobs from China to West Bend, according to the Milwaukee Business Journal. The property is located at 2845 Wingate St. The landlord is Wingate Ventures LLC, care of Phoenix Investors LLC. Gardner selected the location in West Bend to add to its current operations in Juneau, Wis. Nick Keys, Samuel M. Dickman Jr. and Samuel D. Dickman negotiated the lease.

July 23, 2015

Healthcare Midwest Wisconsin

Hammes Partners’ Healthcare Real Estate Private Equity Fund Raises $430M

by Jonathan Mehall July 17, 2015

MILWAUKEE, WIS. — Hammes Partners has closed on Hammes Partners II LP, a U.S. healthcare real estate private equity fund. Milwaukee-based Hammes Partners received $430 million in capital commitments, significantly over its original target of $300 million. The Hammes platform is focused exclusively on U.S. outpatient healthcare real estate, including investments in existing assets, entitled development projects and adaptive reuse opportunities. Institutional investors that committed capital to the fund include endowments, foundations, pension funds, insurance companies, fund of funds and family offices.

July 17, 2015

Midwest Restaurant Retail Wisconsin

Morgan Partners Is Developing Bakery-Cafe for Panera Bread in Oshkosh, Wis.

by Jonathan Mehall July 16, 2015

OSHKOSH, WIS. — The Morgan Partners is developing a 4,370-square-foot Panera bakery-cafe, complete with drive-thru, in Oshkosh. The freestanding building, subject to a ground lease with a 15-year primary term, is currently under construction on 1.68 acres at I-41 and Highway 21. Panera Bread expects the bakery-cafe to open this fall. Neighboring tenants include a newly constructed Dick’s Sporting Goods, McDonald’s, Lowe’s, Menards and Festival Foods. Ed Bowen of The Morgan Partners represented the development side of the transaction, while Joe Kleiman of Mid-America Real Estate Group represented the tenant.

July 16, 2015

Industrial Midwest Wisconsin

The Dickman Company Brokers Sale of 5,000 SF Industrial Building

by Jonathan Mehall July 10, 2015

MILWAUKEE, WIS. — The Dickman Company/CORFAC International has brokered the sale of a 5,000-square-foot industrial building located at 6014 West Beloit Road in West Allis, approximately six miles west of downtown Milwaukee. Anthony Huenerbein of The Dickman Company represented the undisclosed buyer and Mitchell Starczynski of NAI MLG Commercial represented the seller, Able Equipment Co.

July 10, 2015

Healthcare Midwest Wisconsin

Altus Commercial Arranges Lease for Comfort Keepers in Waukesha

by Amy Works July 7, 2015

WAUKESHA, WIS. — Altus Commercial Real Estate has arranged a 535-square-foot lease at 2717 Grandview Blvd. in Waukesha, about 20 miles west of Milwaukee. Comfort Keepers, a home-service caregiver provider, has leased the space. Anita Frey of Altus Commercial Real Estate represented both parties in the transaction.

July 7, 2015

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