PEWAUKEE AND WAUKESHA, WIS. — Marcus & Millichap has brokered the sale of a two-property, 548-unit All Safe Mini Stor-It portfolio in Wisconsin for an undisclosed price. The self-storage facilities are located in Pewaukee and Waukesha. The properties, which are a mix of climate-controlled and non-climate-controlled units, span 76,484 square feet. Brian Kelly, Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the portfolio on behalf of the seller, a limited liability company. The team also secured the buyer, a limited liability company.
MILWAUKEE — Ross Innovative Employment Solutions (IES) has relocated from northwest Milwaukee to 7800 W. Brown Deer Road in Milwaukee. The 40,282-square-foot space will serve as the workforce development company’s new Milwaukee office. The building has been vacant since 2017 when Monster.com relocated downtown. Founded in the 1970s, Ross IES partners with state and local agencies to design and implement job readiness and workforce development programs. Ben Anderson and Jim Larkin of Colliers International represented Ross IES in the lease transaction. Mike Wanezek and Joe Moritz of Colliers represented the landlord, Hudson Americas.
MILWAUKEE — Newmark Knight Frank (NKF) has negotiated the $15 million sale of a four-property retail portfolio in metro Milwaukee. The portfolio totals 97,259 square feet. The properties include Harvard Square and Northfield Shopping Center in Brookfield, Lincoln Plaza in West Allis and Mitchell Bank Plaza in New Berlin. Kevin Schnoldt and Brian Vanevenhoven of NKF represented the sellers, which comprised various entities associated with William Reilly and Leon Joseph. Baceline Investments purchased the assets.
MONROE, WIS. — SRS Real Estate Partners has arranged the $2.1 million sale of a 6,804-square-foot property occupied by Fresenius Kidney Care in Monroe in southern Wisconsin. The facility is located at 120 W. 7th St. Fresenius is a national provider of dialysis treatment and resources. Frank Rogers and Michael Carter of SRS represented the seller, a Midwest-based developer. The team also represented the buyer, a California-based investor completing a 1031 tax-deferred exchange.
MILWAUKEE — Senior Living Investment Brokerage (SLIB) has arranged the sale of St. Clare Terrace, a 59-unit assisted living community in Milwaukee. The community was built in 1964 and operates under the Residential Care Apartment Complex (RCAC) designation. Under this state designation, residents have individual apartments with kitchens and bathrooms. They also receive up to 28 hours per week of supportive, personal and nursing services. The 67,000-square-foot property sits on 2.4 acres, and was 64 percent occupied at the time of sale. An ownership group based in Wisconsin with seven other communities across the state acquired the property for $2.3 million. After extensive due diligence, the buyer received a credit of $500,000 for improvements to St. Clare’s physical plant, including repairs deferred by prior ownership. The buyer plans to rebrand the facility under the name Willow View and invest significant capital into the renovation of the facility. Ryan Saul, Bradley Clousing and Joe Young of SLIB handled the transaction.
SALEM LAKES, WIS. — Zilber Property Group (ZPG) is developing two new spec industrial buildings at Salem Business Park in the village of Salem Lakes in southeast Wisconsin. Stabio North America has signed a lease to occupy 110,500 square feet at one building, while Advent Tool and Manufacturing Inc. will occupy 25,000 square feet of a 50,000-square-foot building. Pending government approvals, ZPG plans to begin construction on both facilities this spring. Completion is slated for the fourth quarter. Kenosha Area Business Alliance originally developed the 65-acre industrial business park in partnership with the village in 2016.
GREEN BAY, WIS. — Nicolet Bankshares Inc. has agreed to acquire Commerce Financial Holdings Inc. and its wholly owned subsidiary, Commerce State Bank. The deal is valued at approximately $129.6 million. The combined company is expected to have pro forma assets of $4.3 billion, deposits of $3.6 billion and loans of $3.2 billion. Commerce would represent approximately 16 percent of the combined company’s year-end assets. The transaction is expected to close in the third quarter. Nicolet Bankshares is the bank holding company of Nicolet National Bank. Founded in Green Bay in 2000, the bank operates branches in northeast and central Wisconsin as well as the upper peninsula of Michigan. West Bend-based Commerce was the 20th largest bank in the Milwaukee area last year, according to the Milwaukee Business Journal.
MILWAUKEE — Founders 3 Real Estate Services has brokered the sale of a 98,600-square-foot industrial building in Milwaukee for $5.2 million. The property is located at 11925 W. Carmen Ave. Andy Hess and Derek Yentz of Founders 3 represented the seller, HK Ventures LLC. BIG Acquisitions LLC, a division of Brennan Investment Group, purchased the facility, which is fully leased to Hilmot.
MILWAUKEE — Brennan Investment Group has acquired a 98,600-square-foot industrial facility in Milwaukee. The seller and sales price were undisclosed. The property, located at 11925 W. Carmen Ave., is fully leased to Hilmot, a provider of conveyor equipment. Andy Hess and Derek Yentz of Founders 3 Real Estate Services represented Brennan in the transaction. Chicago-based Brennan has acquired more than $4 billion in industrial real estate since 2010.
MENOMONEE FALLS, SUN PRAIRIE AND NEW BERLIN, WIS. — Associated Bank has provided $8.6 million in three separate loans for the land acquisition and construction of early childhood learning centers in three Wisconsin cities. Bradford Real Estate was the borrower. Each of the standalone, 10,000-square-foot buildings will be fully leased by The Learning Experience, which provides childcare and educational services for children ages six weeks to six years. The centers will be located in Menomonee Falls, Sun Prairie and New Berlin. All three are slated for completion this year. Daniel Barrins of Associated Bank managed the loans and closings.