MADISON, WIS. — Marcus & Millichap has arranged the sale of a 117,791-square-foot industrial property in Madison for $6.4 million. Compass Group occupies the building, which is located at 2305 Daniels St. The tenant recently executed a new long-term, net lease. Brett Winger and Dominic Sulo of Marcus & Millichap’s The Sulo Group secured and represented the buyer, a limited liability company. Seller information was not disclosed.
GREENFIELD, WIS. — Montecito Medical Real Estate has acquired Aurora Health Center at 84South, a surgical center and medical office building in Greenfield, a suburb of Milwaukee. The purchase price was undisclosed. Built in 2019, the 130,000-square-foot, five-story facility is fully leased to Advocate Aurora Health. It is situated within the larger mixed-use development known as 84South. The property is one of the largest outpatient ambulatory sites for Advocate Aurora Health with eight surgical suites, two pain management procedure rooms, four gastroenterology suites and outpatient interventional radiological suites. The building also serves as a central location for Aurora Children’s Health Services and Aurora’s Sports Health Services. Advocate Aurora Health operates 27 acute care hospitals and employs roughly 3,700 physicians across Wisconsin, Michigan and Illinois.
MIDDLETON, WIS. — McShane Construction Co. has broken ground on The Trotta Apartments in Middleton near Madison. Impact Seven is the developer for the 126-unit apartment project, which is situated on a site that formerly housed a motel owned by the Trotta family. The four-story development will include amenities such as a clubroom, fitness center, dog wash, common room and three rooftop decks. Completion is slated for April 2022. Ramaker & Associates is the architect of record.
MENOMONEE FALLS, WIS. — IRA Capital has acquired North Hills Health Center in Menomonee Falls, located about 20 miles northwest of Milwaukee, for $60 million. The medical campus comprises two Class A buildings totaling 119,000 square feet that are fully leased to Froedtert Health, a five-hospital system and the primary teaching affiliate of the Medical College of Wisconsin. Froedtert provides a range of outpatient services at the North Hills facility, including an imaging center, fertility clinic, sleep center, women’s health center, pulmonary rehab facility, occupational medicine clinic and walk-in urgent care. The buildings also house two of the health system’s subsidiaries, Inception Health and Exceedent. The seller was undisclosed. The acquisition marks IRA’s 17th healthcare real estate purchase in the past six months totaling over $350 million.
PEWAUKEE, WIS. — Zilber Property Group has acquired a 165,000-square-foot industrial building in Pewaukee, located about 18 miles west of Milwaukee. The purchase price was undisclosed. The property is situated within a business park less than two miles north of I-94. It is currently vacant. Zilber plans to make various interior and exterior improvements to the building over the coming weeks. Scott Furmanski of CBRE represented the undisclosed seller. He will also market the property for lease on behalf of Zilber.
WEST ALLIS, WIS. — McShane Construction Co. has completed building The West Living, a 177-unit luxury apartment project in West Allis, a western suburb of Milwaukee. McShane constructed the community on behalf of developer, Mandel Group. The first level of the four-story complex is a parking structure. Units consist of studios, one-, two- and three-bedroom floor plans. Amenities include a club area, fitness center, dog park and rooftop patio. Zimmerman Architectural Studios served as architect. Units are currently available for move-ins. Monthly rents start at $909 for studios.
WAUWATOSA, WIS. — Software company Dematic has opened a 37,330-square-foot office at The Mayfair Collection in Wauwatosa, a suburb of Milwaukee. PREMIER Design + Build Group built out the 27,200 square feet on the first floor and added another 10,130 square feet by constructing a mezzanine level. The space can accommodate up to 200 employees and features seven conference rooms. TOA Architecture/Urban Design provided architectural and interior design services. Dematic is a logistics technology services firm that specializes in supply chain optimization. HSA Commercial is the owner and developer for The Mayfair Collection, a mixed-use project comprising residential, retail and office space.
MILWAUKEE — An affiliate of fifteenfortyseven Critical Systems Realty LLC, in partnership with Harrison Street, has acquired Milwaukee’s historic Wells Building. The purchase price was $7.25 million, according to the Milwaukee Business Journal. The 15-story, 165,000-square-foot building is located at 324 E. Wisconsin Ave. and dates back to 1901. The property has a long history as a communications center and once served as the Milwaukee headquarters for Western Union Telegraph Co. Today, the building serves as a carrier hotel and data center. A carrier hotel is a building in a downtown location that houses networks and cloud services. The buyer plans to make significant investments in the building’s power and cooling infrastructure. Ascendant Holdings LLC, a Wisconsin-based commercial real estate development and investment company, was the seller.
KENOSHA, WIS. — Marcus & Millichap has arranged the $2.8 million sale of a Value Inn hotel in Kenosha, about 35 miles south of Milwaukee. The 112-room property, built in 1988, will be converted into a Rodway Inn by Choice Hotels. Ebrahim Valliani, Michael Klar, Allan Miller and Chris Gomes of Marcus & Millichap secured and represented the buyer, a private investor. Seller information was not disclosed.
DEFOREST, WIS. — Lee & Associates has brokered the $1.1 million sale of a 16,000-square-foot industrial building in DeForest, just north of Madison. The property is located at 4159 Reardon Road. Blake George of Lee & Associates represented the seller, CHEEE Holdings LLC. The buyer, CAH CO DeForest LLC, will use the property as a vehicle maintenance facility for Hooper Corp.