MILWAUKEE — Physicians Realty Trust (NYSE: DOC), through its operating partnership Physicians Realty LP, has agreed to acquire a 15-building medical office portfolio for $764.3 million. The Class A buildings are located in eight states and comprise approximately 1.4 million square feet. The portfolio is roughly 95 percent leased. Each of the buildings are either located on a health system campus or are affiliated with a health system. The transaction is expected to close before the end of the year. The seller and property names were undisclosed. Physicians Realty Trust is a Milwaukee-based healthcare real estate company that acquires, develops, owns and manages properties that are leased to physicians, hospitals and healthcare delivery systems.
FITCHBURG, WIS. — Dwight Capital has provided a $22.7 million HUD-insured loan for the refinancing of The Fairways Apartments in Fitchburg, a southern suburb of Madison. The 369-unit apartment complex is comprised of 14 buildings and is situated on Nine Springs Golf Course. Amenities include a pool, common areas and two tennis courts. Brandon Baksh of Dwight originated the loan, which benefited from a Green Mortgage Insurance Premium reduction set at 25 basis points because the property is Energy Star-certified. The borrower was undisclosed.
JANESVILLE, WIS. — Zilber Property Group has purchased an industrial portfolio spanning four buildings and 525,000 square feet in southern Wisconsin’s Janesville. The purchase price and seller were not disclosed. Ranging in size from 45,000 square feet to 250,000 square feet, the buildings are fully occupied by Cummins Inc., Pepsi, National Food Distributors and Panoramic. The properties are located at 101 W. Venture Drive, 505 S. Wuthering Hills Drive, 1700 E. Delavan Drive and 525 E. Conde St.
MENOMONEE FALLS, WIS. — Kohl’s says it is looking to add approximately 90,000 seasonal associates to meet demand and support company growth, including staff for its newly opened e-commerce fulfillment center in Etna, Ohio; four new stores opening this fall; and beauty associates for the all-new Sephora at Kohl’s experience in 200 stores. New this year, hourly store, distribution center and e-commerce fulfillment center associates will be eligible to receive a bonus ranging from $100 to $400 for working with Kohl’s through the holiday season. The Menomonee falls-based retailer will host two upcoming national hiring events. Kohl’s operates more than 1,100 stores in 49 states.
WAUWATOSA, WIS. — HSA PrimeCare, the healthcare real estate division of Chicago-based HSA Commercial Real Estate, has acquired a 16,513-square-foot medical office building in Wauwatosa near Milwaukee. Located at 3040 N. 117th St., the property is 95 percent occupied with approximately 825 square feet of leasable space. Tenants include Ascension Medical Group, which uses the location to provide a range of women’s health services, and Children’s Medical Group, which is owned by Children’s Wisconsin. Both tenants have operated from the building since it opened in 2007. Tom Shepherd and Adam Connor of Colliers International represented the undisclosed seller.
WARRENS, WIS. — The Jenkins Organization Inc. (TJO) has purchased The Jellystone Park in the central Wisconsin town of Warrens. The purchase price was undisclosed. With 415 recreational vehicle (RV) sites, 162 park models and 42 tent sites across 130 acres, the park will be the largest within TJO’s portfolio. TJO plans to upgrade the park with enhanced Wi-Fi and cable as well as replace several cabins. Planned additions include gem mining, laser tag and a jumping pad. Over the winter months, TJO will renovate the ranger station, café, activities building and water attractions, and add a Wibit obstacle course. Current amenities at the park include 36 holes of mini golf, a shuffleboard court, wave pool, swimming beach, waterslide, lazy river and racer waterslide. The acquisition marks TJO’s fifth Jellystone Park and ninth RV resort since launching its Great Escapes RV Resorts brand in 2019.
MENASHA, WIS. — Matthews Real Estate Investment Services has brokered the $5.1 million sale of a two-tenant retail property in Menasha, just south of Appleton. Located at 1151 E. Midway Road, the property is home to Piggly Wiggly and Dollar Tree. Edward DeSimone, Josh Bishop and Maxx Bauman of Matthews brokered the 1031 tax-deferred exchange transaction. The undisclosed buyer exchanged out of a four-property Dollar General portfolio.
MILWAUKEE — Eight Eleven Group has signed a 7,500-square-foot office lease at HUB640 in Milwaukee’s Westown neighborhood. This will be the second office in Milwaukee for the Indianapolis-based staffing and consulting firm. Eight Eleven employees will temporarily occupy a spec suite within HUB640 while they await the buildout of their permanent location on the third floor. Eight Eleven plans to hire five additional employees this year and seven to 10 more next year. Purchased in 2017 by North Wells Capital, HUB640 was formerly home to the corporate offices of The Bon-Ton Stores Inc. and its longtime Boston Store. Fully renovated in the years following, the 120-year-old property now features a new lobby, amenity floor, rooftop deck and fitness center. The project gets its name from the address, 640 N. 4th St. John Davis and Ned Purtell of Founders 3 Real Estate Services represented North Wells Capital in the lease with Eight Eleven.
BELOIT, WIS. — Lee & Associates has arranged the sale of a 17,400-square-foot industrial building at 1531 E. Gale Drive in southern Wisconsin’s Beloit. The sales price was undisclosed. Blake George of Lee & Associates represented the seller, Frank Beer Distributors Inc. The buyer, Total Plumbing and Heating, plans to open a new facility to serve the Janesville and Beloit areas. The company provides plumbing, heating and air conditioning services.
MILWAUKEE — Herzing University has unveiled plans to move its national headquarters to The Avenue in downtown Milwaukee. Herzing expects to move from its current suburban location to The Avenue by the first quarter of 2022 and will occupy nearly 22,000 square feet. The Avenue is a 333,000-square-foot mixed-use project by Hempel Real Estate and Interstate Development Co. Herzing is a private nonprofit institution with 10 campuses across seven states as well as an online division. The university offers degrees in professions such as nursing, technology, business and healthcare. Colliers International represented Herzing in its new lease and will also market Herzing’s Menomonee Falls property for sale. Founders 3 Real Estate Services represented ownership of The Avenue.