STURTEVANT, WIS. — Marcus & Millichap has arranged the sale of a 50-room hotel and restaurant building located at 910 S. Sylvania Ave. in Sturtevant, a southern suburb of Milwaukee. The sales price was undisclosed. The buyer, a private investor, plans to rebrand the property as a Super 8 by Wyndham hotel. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and the seller, a private investor. Chris Gomes, Allan Miller and Todd Lindblom of Marcus & Millichap also assisted in closing the deal.
SUN PRAIRIE, WIS. — Heyday has opened the first phase of Heyday Sun Prairie, a 170-unit build-to-rent community in the Madison suburb of Sun Prairie. Homes feature attached garages with electric vehicle charging outlets, private patios, keyless entry and green spaces. Monthly rents range from $1,700 for one-bedroom homes to $2,800 for three-bedroom homes. New leases include a six-month membership to nearby Sun Prairie Athletic Club. Daniel Management Group is the property manager.
MT. PLEASANT, WIS. — St. John Properties Inc. has signed leases with three office tenants for more than 30,000 square feet at Mt. Pleasant Commerce Center in Mt. Pleasant, about 30 miles south of Milwaukee. The U.S. General Services Administration will relocate approximately 25 to 30 employees from 4020 Durand Ave. in Racine to 10,150 square feet in Mt. Pleasant by year’s end. Power transmission equipment manufacturer Twin Disc Inc., based in Racine, signed a lease for 15,482 square feet and will relocate its engineering division with roughly 45 employees by year’s end. Wisconsin Early Autism Project and Total Spectrum signed a lease for 5,536 square feet for its fifth location in metro Milwaukee. The group will take occupancy in October. Greg Fax represented St. John Properties on an internal basis.
SHEBOYGAN, WIS. — Charter Senior Living has partnered with DMK Development Group and American Cos. to build a new senior living community in Sheboygan, about 57 miles north of Milwaukee. Charter Senior Living of Sheboygan, in conjunction with Van Horn Real Estate, will be located within the North Town master-planned development. It will offer a total of 175 senior apartments in a variety of floor plans, including 108 independent living units, 46 assisted living units and 21 memory care suites. Development costs are estimated at $50 million. Construction is expected to begin in spring 2024.
PADDOCK LAKE, WIS. — Ashish Merchant, an operator of the Culver’s restaurant chain, has purchased 1.6 acres of vacant land on Highway 83 in Paddock Lake, about 15 miles west of Kenosha. The sales price was undisclosed. Tom Treder of Founders 3 Real Estate Services represented the buyer. The seller was PL 83 Development Inc., an affiliate of Bear Development. There are nearly 900 Culver’s restaurants across the United States. The first location opened in Wisconsin in 1984.
GREENDALE, WIS. — Founders 3 Real Estate Services has brokered the $1.1 million sale of a 13,000-square-foot industrial building in Greendale, a southwest suburb of Milwaukee. The property is located at 6600 S. Industrial Loop. Paul McBride and Patti Stevens of Founders 3 represented the seller, B&H Holdings. Massimo Property Investments was the buyer.
MOUNT PLEASANT AND STURTEVANT, WIS. — Quality Logistics Solutions has signed two new industrial leases in Wisconsin. The firm will occupy 9,840 square feet at 7900 Durand Ave. in Mount Pleasant, about 30 miles south of Milwaukee, and 4,472 square feet at the Renaissance Business Center in Sturtevant, just south of Mount Pleasant. Bob Flood and Brian Flood of Founders 3 Real Estate Services represented the tenant. The landlords were not disclosed.
KENOSHA, WIS. — MLG Capital has purchased Market Square, a 330-unit apartment community in Kenosha. The purchase price and seller were undisclosed. Located at 3100 Market Lane, the property was built in 2017 and 2019. The acquisition marks MLG’s first in Kenosha and brings the firm’s total number of units owned in Wisconsin to more than 3,300. This is the 64th property acquired as part of MLG’s Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners.
ALBANY, WIS. — Marcus & Millichap has brokered the $1.1 million sale of a 9,100-square-foot retail property occupied by Dollar General in Albany, a city in southern Wisconsin. The net-leased building is located at 614 N. Cincinnati St. Dollar General remains on its original 15-year lease for the location. Mitch Grant and Nicholas Kanich of Marcus & Millichap represented the seller, a limited liability company. The buyer was a private investor based in Arizona.
LA CROSSE AND STURGEON BAY, WIS. — Starbucks has inked two new retail leases in Wisconsin totaling 2,460 square feet each. The first property is located at 2552 Rose St. in La Crosse, while the second is at 911 Green Bay Road in Sturgeon Bay. Tony Colvin of Mid-America Real Estate represented the tenant in each lease. The respective landlords were Eagle Bay Partners LLC and 911 Green Bay Road Partners LLC.