MADISON, WIS. — ALTUS Commercial Real Estate Inc. has arranged a 2,139-square-foot office lease in Madison. Wisconsin Newspaper Association will occupy the space located at 34 Schroeder Court, Suite 2. Chuck Polenz of ALTUS represented the tenant, and Jeff Jansen of ALTUS represented the landlord.
NEW BERLIN, WIS. — DTZ Barry has arranged the lease of a 14,507-square-foot industrial space in New Berlin. Industrial Automations Solutions Inc. (IAS), an engineering company, will occupy space located at 5125 S. Towne Center. Kevin Barry of DTZ Barry represented IAS in the lease.
MADISON, WIS. — Lee & Associates has brokered the $2 million sale of land at 149 E. Wilson St. in Madison. McGrath Projects purchased the property and plans to build a luxury multistory housing project on the site. Steve Doran of Lee & Associates of Madison and Debby Dines of Dines Inc. were the brokers involved in the transaction. McShane Construction was the seller.
KIMBERLY, WIS. — Mid-America Real Estate – Wisconsin LLC has arranged the $460,000 sale of a 6,900-square-foot retail building in Kimberly, four miles east of Appleton. Commercial Horizons Inc. purchased the former Associated Bank, which is located at 600 W. Kimberly Ave. Community First Credit Union will occupy the building. Joe Kleiman and Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC represented the undisclosed seller in the transaction.
PLEASANT PRAIRIE, WIS. — Mid-America Real Estate has arranged the sale of a 9,035-square-foot, three-tenant shopping center in Pleasant Prairie. The Plaza at Prairie Ridge is located at the southeast corner of 75th Street and 104th Avenue. Oak Brook, Ill.-based Inland Real Estate Acquisitions Inc. purchased the property for an undisclosed sales price. Target, JC Penney, Dick’s Sporting Goods, and PetSmart shadow-anchor the shopping center. Carly Gallagher of Mid-America and Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC were the exclusive brokers in the transaction on behalf of the seller, Milwaukee-based Evo Properties LLC.
MILWAUKEE — New York-based Gramercy Property Trust Inc. has acquired one office and four industrial properties totaling approximately 590,000 square feet for $44.4 million. The properties include a portfolio of three single-tenant industrial properties totaling approximately 450,000 square feet in the Milwaukee; a cross-dock truck terminal located in Milford, Conn.; and a 115,000-square-footm Class A call center, office and operations facility in Charlotte. The properties are fully leased with a weighted average lease term of 6.7 years.
Commonweal Development Corp. Completes Construction on 72,500 SF Office Building in Eau Claire, Wis.
EAU CLAIRE, WIS. — Commonweal Development Corp. has completed construction on a 72,500-square-foot office building for JAMF Software in Eau Claire. The new, Class A property is located in the Phoenix Park area of downtown Eau Claire. Ayres Associates was the architect for the project. Market & Johnson served as the general contractor. The high tech facility is a combination of open office and meeting rooms featuring a fourth floor deck with a view of the Chippewa and Eau Claire rivers. JAMF software specializes in products and support for the Apple platform. The city of Eau Claire is building a parking structure adjacent to the building to serve JAMF and the neighboring Royal Credit Union headquarters.
LISBON, WIS. — The Dickman Co./CORFAC International has brokered the sale of a 2,000-square-foot industrial building in Lisbon, approximately 25 miles west of Milwaukee. The property, situated on six acres of land, is located at W230 N9515 Colgate Road. Space4U LLC purchased the building and land from GRR8 Development LLC. Nick Keys and Zach Noble of The Dickman Co. were the brokers involved in the transaction representing the buyer and the seller.
KENOSHA, WIS. — Rosemont, Ill.-based First Hospitality Group Inc. will manage the brand new Fairfield Inn & Suites by Marriott in Kenosha/Pleasant Prairie. Construction on Fairfield Inn & Suites by Marriott Kenosha is scheduled for later this year, with plans to open in 2016. Located in the southeast quadrant of highway 165 and I-94, the Fairfield Inn & Suites by Marriott Kenosha will feature 108 guest rooms throughout four stories and convenient amenities including an indoor pool, exercise room and business center. Along with the hotel, the owner of the property, Varin/Kenosha Hotel Partners II, is also interested in developing two adjacent restaurants on site.
OAK BROOK, ILL. — CenterPoint Properties has sold a 10-building industrial portfolio in Wisconsin. The portfolio consists of 1.74 million square feet and 116 acres of land. Erik Foster, Mike Wilson and Christy Wold of Avison Young co-brokered with Chad Vande Zande, represented CenterPoint in the transaction. The building addresses of the properties include W142 N9251 Fountain Blvd. in Menomonee Falls; 5401 W. Donges Bay Road in Mequon; 7025 W. Parkland Court in Milwaukee; 7501 N. 81st St. in Milwaukee; 11925 W. Carmen Ave. in Milwaukee; 2450 S. 170th St. in New Berlin; 16405 W. Lincoln Ave. in New Berlin; 16800 W. Ryerson Road in New Berlin; 2900 S. 160th, St. in New Berlin; and 6736 W. Washington Dr. in West Allis. CenterPoint is an owner/operator of industrial real estate property, consisting of 47.3 million square feet and 5,450 acres nationwide.