GRAFTON, WIS. — Yamato Corp., a provider of automatic, commercial and industrial weighing solutions, has purchased a 96,500-square-foot industrial property located at 1272 Dakota Drive in Grafton, about 20 miles north of Milwaukee. The purchase price was undisclosed. Yamato is relocating from a 35,347-square-foot space at 6303 Eastwood Court in Mequon, Wis. Mitchell Starczynski and Curt Pitzen of Newmark represented Yamato in the transaction. Rexnord Industries LLC was the seller.
HARTFORD, WIS. — Blue West Capital has arranged the sale of Hartford Centre for $4.9 million. The Aldi-anchored shopping center is located at 1591 E. Summer St. in Hartford, about 37 miles northwest of downtown Milwaukee. Other tenants at the 34,577-square-foot property include Dunkin’, H&R Block, Shopko Optical and Papa Murphy’s. Carly Gallagher Kelly of Blue West Capital represented the seller, Green Bay-based Midwest Expansion LLC. She also procured the buyer, a Dallas-based commercial real estate company.
OCONOMOWOC, WIS. — Developer Mandel Group has selected McShane Construction Co. to build Hackney House Apartments at Pabst Farms in Oconomowoc, about 35 miles west of Milwaukee. The apartment community will include 302 units across 20 garden-style and townhome buildings. Amenities will include a 4,000-square-foot clubhouse, fitness center, outdoor pool, grill area, dog wash and bike storage. HUD 221(d)(4) financing will be used to finance the project. Completion is slated for April 2023. BSB Design is the architect.
ST. FRANCIS, WIS. — M&R Development has completed Phase I of 42 Hundred On The Lake, a 236-unit luxury apartment project in St. Francis, about five miles south of downtown Milwaukee. Located at 4200 S. Lake Shore Drive, the development overlooks Lake Michigan. Units range from 583 to 1,204 square feet. Monthly rents range from $1,208 to $3,350. Pre-leasing has begun for Phase II, with move-ins for those apartments scheduled to begin in June. Amenities include a clubhouse, coffee bar, business center, game room, fitness center, package room, pet spa and two courtyards. The pool is scheduled to open in May. M&R co-developed the project with Campbell Capital Group LLC. RMK Management will oversee leasing and property management.
KENOSHA, WIS. — Panattoni Development Co. has purchased a 13.7-acre site in Kenosha with plans to build a 270,000-square-foot speculative distribution center. Located at 10200 55th St., the project will feature a clear height of 32 feet, two drive-in doors and LED lighting. Ned Frank, Fred Regnery, Jeff Devine, Steve Disse and Jack Rosenberg of Colliers International Chicago represented the seller, Kenall Manufacturing. Colliers also represented Panattoni in the acquisition and will handle lease-up of the facility.
MADISON, WIS. — Ready Capital has closed a $9.2 million loan for the acquisition, renovation and deconversion of a 152-unit fractured condominium property in Madison. The undisclosed borrower plans to acquire 84 of the Class B property’s units and implement a capital improvement plan. Planned upgrades include landscaping, amenity and common area improvements and painting. The floating-rate loan features a 36-month term and includes a facility to provide future funding for capital expenditures and additional unit buyouts.
MADISON, WIS. — Berkadia has brokered the sale of Summit Hill in Madison for $12.7 million. The 123-unit, garden-style apartment community features studio, one- and two-bedroom floorplans. Amenities include laundry facilities, onsite management and a barbecue area. Located at 1202 McKenna Blvd., the property is adjacent to Elver Park and provides convenient access to the University of Wisconsin Madison. Ralph DePasquale of Berkadia represented the sellers, New York-based Trevian Capital and Crown Properties. Chris Blechschmidt and Connor Reed of Berkadia secured $9.3 million in acquisition financing through Freddie Mac on behalf of the buyer, Illinois-based Axiom Properties. The 10-year loan featured a 30-year amortization schedule and a 75 percent loan-to-value ratio.
APPLETON, WIS. — The Boulder Group has arranged the sale of a single-tenant property net leased to Pick ’n Save in Appleton for $7 million. The 54,340-square-foot building is surrounded by a Walmart, Chase Bank, Lowe’s, Kohl’s, Target, Home Depot, Best Buy and Menards. Randy Blankstein and John Feeney of Boulder represented the buyer, a Midwest-based real estate investor. The seller information was not disclosed.
KENOSHA, WIS. — Peak Construction Corp. has been selected by NorthPoint Development to construct Heartland 94 Logistics Center Building 1 in Kenosha. Construction is scheduled to begin this spring with completion slated for January 2022. The 757,281-square-foot industrial building, located at 8311 38th St., will feature a clear height of 40 feet, 76 dock doors, four drive-in doors, 234 trailer parking spaces and 414 car parking spaces. The project team includes studioNorth Architecture and Pinnacle Engineering Group.
MENOMONEE FALLS, WIS. — Starboard Realty Advisors LLC has acquired Jade at North Hills in Menomonee Falls, a suburb of Milwaukee. The sales price was undisclosed. The 139-unit apartment complex was 98.6 percent occupied at the time of sale. Developed by Fiduciary Real Estate Development, the garden-style property features four buildings with underground parking. It features a mix of studio, one- and two-bedroom units. Patrick Gallagher, Matson Holbrook and Gretchen Richards of CBRE represented the undisclosed seller.