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Wisconsin

AcquisitionsMidwestRetailWisconsin

Mid-America Arranges Sale of 85,880 SF Shopping Center in Fitchburg, Wisconsin

by Kristin Harlow

FITCHBURG, WIS. — Mid-America Real Estate Corp. has arranged the sale of Hatchery Hill Towne Center in the Madison suburb of Fitchburg for an undisclosed price. Shadow anchored by Pick ‘n Save, the 85,880-square-foot shopping center was 80 percent leased at the time of sale. Tenants include Panera Bread, Verizon, Cold Stone Creamery, MOD Pizza, Great Dane Pub & Brewing Co., Anytime Fitness, Kim’s Nails and Tabby & Jack’s Pet Supplies. Rick Drogosz and Dan Rosenfeld of Mid-America represented the seller, Bridge33 Capital. Brar Investments was the buyer.

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AcquisitionsMidwestOfficeWisconsin

NAI Pfefferle Negotiates Sale of 14,185 SF Office Building in Appleton, Wisconsin

by Kristin Harlow

APPLETON, WIS. — NAI Pfefferle has negotiated the sale of a 14,185-square-foot office building in Appleton. The sales price was not disclosed, but the asking price was $2.2 million. Elizabeth Ringgold and Jonathan Glassco of NAI Pfefferle negotiated the sale. Buyer and seller information was not provided.

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AcquisitionsIndustrialMidwestWisconsin

Zilber Property Group Buys Four Industrial Buildings Totaling 385,000 SF in Southeast Wisconsin

by Kristin Harlow

NEW BERLIN AND FRANKLIN, WIS. — Zilber Property Group (ZPG) has acquired a four-building industrial portfolio totaling 385,000 square feet in Southeast Wisconsin for an undisclosed price. Located in New Berlin and Franklin, the properties range in size from 80,000 to 125,000 square feet. The buildings are fully leased to eight tenants engaged in manufacturing, warehousing, distribution and logistics. Each property is situated in an established business park with essential infrastructure and access to major transportation systems.

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Leasing ActivityMidwestRestaurantRetailWisconsin

Hines Inks 11-Year Lease for New Milwaukee Restaurant Cassis

by Kristin Harlow

MILWAUKEE — Hines has completed an 11-year lease for James Beard-nominated Chef Kyle Knall’s newest restaurant, Cassis, to be located on the ground floor of Hines’ newly built luxury apartment community in Milwaukee. The riverfront French bistro, slated to open late this year, will span 5,175 square feet with an additional 1,100 square feet of outdoor patio space at 333 Water Street. The property, which marks the first luxury apartment tower to be located in Milwaukee’s Historic Third Ward, features amenities such as a sports lounge with golf simulator and resort-style pool and deck area.

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AcquisitionsHealthcareMidwestWisconsin

CBRE Arranges Sale of 100,977 SF Tosa Health Center in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — CBRE has arranged the sale of Tosa Health Center, a 100,977-square-foot Class A medical office building in the Milwaukee suburb of Wauwatosa, for an undisclosed price. The three-story facility at 1155 N. Mayfair Road is fully leased to the Medical College of Wisconsin (MCW). Originally constructed as a build-to-suit for MCW, the facility was later expanded to accommodate MCW’s growth. A wide range of services are offered from the building, including primary care, urgent care, internal medicine, OB-GYN, mental health services, family medicine, spine care, imaging, laboratory, pharmacy, physical therapy, occupational medicine, plastic surgery and a vein center. Chris Bodnar, Brannan Knott, Mindy Berman, Zack Holderman, Cole Reethof, Trent Jemmett, Jesse Greshin and Devin Tessmer of CBRE represented the undisclosed seller. Hammes Partners was the buyer.

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DevelopmentIndustrialMidwestWisconsin

Crow Holdings Breaks Ground on 337,000 SF Air Cargo Facility at Milwaukee Airport

by Kristin Harlow

MILWAUKEE — Crow Holdings has broken ground on a new air cargo facility at the Milwaukee Mitchell International Airport (MKE). The project will transform a significant portion of the former 440th Airlift Wing, now known as the MKE Regional Business Park, into a 337,000-square-foot air cargo facility featuring a dedicated air cargo building, a new Milwaukee County highway maintenance facility to support both county and state transportation needs and enhancements to adjacent taxiways to improve accessibility for wide-body cargo aircraft. The facility will have the capacity to accommodate five B747-400 aircraft at the same time and is expected to generate over $1.3 million in annual aircraft landing fees as well as over $1 million in annual ground lease rents and fees. The former 440th campus was turned over to the airport in 2008. Since that time, the underutilized property has been marketed to developers. Some of the buildings are currently used by the airport while others have been leased to a variety of short-term tenants. According to a news release, the public-private project will create new jobs at the airport and has the potential to attract new passenger airlines and destinations, as well as air cargo services, by lowering the …

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AcquisitionsMidwestMultifamilyWisconsin

CBRE Brokers $3.2M Sale of Historic Apartment Building in Stevens Point, Wisconsin

by Kristin Harlow

STEVENS POINT, WIS. — CBRE has brokered the $3.2 million sale of Whiting Place Apartments in the central Wisconsin city of Stevens Point. Originally developed in 1923 as The Whiting Hotel, the 21-unit property was designed by Milwaukee-based architect Alfred Clas. The building was converted in 1988 into a mixed-use community with ground-floor retail, apartments, professional offices and heated underground parking. The five-story asset is classified as a Historic Place by the National Park Service’s National Register of Historic Places. Sean Beuche, Patrick Gallagher, Matson Holbrook and Gretchen Richards of CBRE represented the sellers, Lokre Cos. and Stehr Construction. Heidi Mancheski, a Stevens Point-based investor, was the buyer.

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Leasing ActivityMidwestRetailWisconsin

Starbucks Signs Three New Retail Leases in Wisconsin

by Kristin Harlow

GREEN BAY, TWO RIVERS AND MADISON, WIS. — Starbucks has signed three new retail leases in Wisconsin. The tenant leased 2,460 square feet at 1555 W. Mason St. in Green Bay, 2,262 square feet at 1509 Washington St. in Two Rivers and 2,665 square feet at 1609 S. Park St. in Madison. Tony Colvin of Mid-America Real Estate represented Starbucks in all of the leases. The landlords included Military Avenue Partners, DCOLE TR LLC and 1609 S Park St LLC.

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AcquisitionsIndustrialMichiganMidwestWisconsin

Phoenix Investors Acquires Two Stellantis Industrial Facilities Totaling 2.3 MSF in Michigan, Wisconsin

by Kristin Harlow

MARYSVILLE, MICH. AND MILWAUKEE — An affiliate of Phoenix Investors has acquired two industrial properties totaling roughly 2.3 million square feet and 145 acres in Michigan and Wisconsin for an undisclosed price. The facilities are located at 840 Huron Blvd. in Marysville, Mich., and 3280 S. Clement Ave. in Milwaukee. Both were previously owned by FCA US LLC, a wholly owned subsidiary of global automaker Stellantis, which leases both buildings. Phoenix’s portfolio now exceeds 80 million square feet nationwide. Tony Avendt and Jeff Hoffman of Cushman & Wakefield brokered the sale.

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AcquisitionsDevelopmentIndustrialMidwestSelf-StorageWisconsin

Local Developers to Build 63,500 SF Self-Storage Facility in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — Steve Rolfe of Midland Commercial Development Corp., William Wirth of Luft Consulting Inc. and Jordan Nelson of Nelson Development have purchased a development site at 5151 W. State St. with plans to build Wauwatosa Self Storage. The temperature-controlled self-storage facility will total 63,500 net rentable square feet divided across 444 units in over two dozen configurations. There will be 23 units in the main drive-thru aisle specifically laid out to accommodate automobile storage. The property will be attended by an onsite manager and will incorporate high-resolution cameras throughout. Brett Deter and Scott Revolinski of Founders 3 Real Estate Services represented the buyers. The project is slated for completion late this summer.

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