MILWAUKEE AND MEQUON, WIS. — Berkadia has brokered the $34.1 million sale of the Dermond Milwaukee Portfolio, a collection of three multifamily properties totaling 138 units in Milwaukee and Mequon. The properties include: the 33-unit Artesa Apartments in Mequon; the 36-unit Avante Apartments in Milwaukee; and the 69-unit Vue Apartments in Milwaukee. Ralph DePasquale, Pete Evans, Jack Maloney and Richard Evans of Berkadia represented the seller, Wisconsin-based Dermond Property Investments. A Nevada-based private family office was the buyer.
WAUSAU, WIS. — Radisson Hotel Group Americas has opened Jefferson Street Inn, a member of Radisson Individuals. Located in the Wausau River District, the seven-story hotel is home to 99 rooms and apartment-style suites. Guests have access to whirlpool tubs, room service, same-day dry cleaning service and complimentary breakfast, which is served by a local bakery. The hotel features Asian, Mexican and American restaurants along with live entertainment. Additional amenities include an 8,000-square-foot ballroom, indoor pool, business center, fitness center and adjacent day spa. Jefferson Street Inn is connected to the Third Street Lifestyle Center, a shopping and dining destination. Radisson Individuals offers independent hotels and local chains the opportunity to be part of Radisson Hotel Group Americas.
MENOMONEE FALLS, WIS. — Founders 3 Real Estate Services has arranged the $4.3 million sale of a 70,000-square-foot industrial building in Menomonee Falls, a northwest suburb of Milwaukee. The property is located on Woodale Drive. Bob Flood of Founders 3 represented the seller, Kohl’s Inc. Dynamic Tool Corp., which builds plastic injection molds for the packaging, personal care and healthcare industries, was the buyer.
BRISTOL, WIS. — Peak Construction Corp. is underway on a 1 million-square-foot speculative industrial building at Bristol Business Park in Bristol, about 40 miles south of Milwaukee. NorthPoint Development is the developer. Completion is slated for this November. The building will feature a clear height of 40 feet, 105 dock doors and four drive-in doors. The project team includes studioNorth Architecture and Manhard Consulting Ltd.
BRODHEAD, WIS. — NAI Greywolf has negotiated the sale of a 37-unit, vacant senior living facility in Brodhead, about 35 miles south of Madison. The sales price was undisclosed. The property, which closed in summer 2021, features two dining rooms, a beauty shop, therapy room and library. Dawn Davis of NAI Greywolf represented the seller, Brodhead Assisted Living Inc. The buyer, AJ Brodhead LLC, intends to reopen the property as assisted living.
JANESVILLE, WIS. — Northmarq has arranged a $28.1 million loan for the refinancing of Village Green Apartments in Janesville, about 40 miles south of Madison. The 406-unit multifamily property is located at 3121 Village Court. Mark Ebersold of Northmarq arranged the 10-year loan, which features two years of interest-only payments and a 30-year amortization schedule. A CMBS lender provided the fixed-rate loan. The borrower was undisclosed.
WAUNAKEE, WIS. — Greywolf Partners Inc. has brokered the $2.4 million sale of a 26,000-square-foot industrial building in Waunakee, a northern suburb of Madison. The property, which is located at 904 Bethel Circle, features 3,900 square feet of office space, multiple overhead doors, three dock doors and a clear height of 21 feet. Steve Turner of Greywolf represented the undisclosed buyer. The seller was also not provided.
SOMERS AND OAK CREEK, WIS. — Chicago-based HSA Commercial Real Estate has unveiled plans to build three new speculative warehouses totaling nearly 1.2 million square feet in Southeast Wisconsin. Highland Commerce Center of Somers will span 910,000 square feet in Somers. Construction is scheduled to begin in the third quarter with completion slated for the second quarter of 2023. The project will feature a clear height of 40 feet. OakView II Industrial will span 154,810 square feet with a clear height of 32 feet. The project will be situated within the OakView Business Park in Oak Creek. Construction is scheduled to begin in June with completion slated for October. HSA also plans to build 150 West Oakview Industrial in the OakView Business Park. That building will span 131,244 square feet with a clear height of 32 feet. Construction is expected to begin in May and wrap up in September. The project team for all three buildings includes Pinnacle Engineering Group as civil engineer and Chicago-based Partners in Design as architect. PREMIER Design + Build Group will serve as general contractor for the Somers project, while Riley Construction will build both properties in Oak Creek.
MILWAUKEE — Colliers has brokered the sale of a 42,000-square-foot office building located at 417 E. Chicago St. in Milwaukee’s historic Third Ward district. The sales price was undisclosed. Eversana, a life sciences company, currently occupies the building for its headquarters. The property was originally constructed in 1964 and completely renovated in 2013 as a build-to-suit for The Dohmen Co., which took occupancy for several years. Tom Shepherd, Jennifer Huber-Bullock and Scott Welsh of Colliers represented the seller, 417 East Chicago LLC, an affiliate of Dohmen. The buyer was 417 Third Ward LLC, an affiliate of Madison-based Hovde Properties.
EAU CLAIRE, WIS. — Greywolf Partners Inc. has acquired Metro Crossing in Eau Claire, located in western Wisconsin. The purchase price was undisclosed. The 84-unit apartment property at 2851 Hendrickson Drive rises four stories. Greywolf Partners will also manage the community, which features amenities such as a fitness center, business center and underground parking. Ralph DePasquale and Jack Maloney of Berkadia represented the seller, Rooney Properties LLC.