Wisconsin

HSA Commercial to Develop 1 MSF Industrial Business Park in Bristol, Wisconsin

by Kristin Harlow February 4, 2020

BRISTOL, WIS. — HSA Commercial Real Estate has completed the acquisition of a 68-acre site in Bristol near I-94 and the Wisconsin-Illinois border. The company has received city approval to develop an industrial business park consisting of three buildings totaling more than 1 million square feet. The first two speculative buildings are slated for completion later this year, including a 157,300-square-foot warehouse and a 471,950-square-foot distribution center. Known as Bristol Highlands Commerce Center, the park will include walking paths, landscaping and a detention pond. Building clear heights will range from 32 to 36 feet. Partners in Design Architects, Pinnacle Engineering and Premier Design + Build make up the project team.

February 4, 2020

Acquisitions Midwest Office Wisconsin

CG Schmidt Purchases 34,255 SF Office Building in Madison, Wisconsin, Plans Modernization

by Kristin Harlow January 29, 2020

MADISON, WIS. — CG Schmidt, a Milwaukee-based construction management and general contracting firm, has purchased an office building located at 433 W. Washington Ave. in Madison. The building will serve as CG Schmidt’s Madison office, replacing the current office at 10 W. Mifflin St. Keller Real Estate Group sold the five-story, 34,255-square-foot building. CG Schmidt plans to remodel the building and update it for efficiency and sustainability. Kahler Slater Architects designed the modernization. Construction has begun with completion slated for this July. CG Schmidt will occupy three floors, with the two remaining floors available for commercial and retail lease.

January 29, 2020

Acquisitions Midwest Retail Wisconsin

Stan Johnson Co. Brokers $36.4M Sale of Fleet Farm-Occupied Property in Oconomowoc, Wisconsin

by Kristin Harlow January 27, 2020

OCONOMOWOC, WIS. — Stan Johnson Co. has arranged the $36.4 million sale of a big-box retail property fully leased to Fleet Farm in Oconomowoc, about 30 miles west of Milwaukee. The 218,628-square-foot property is located at 1555 Pabst Farms Circle. Constructed in 2018, the building sits within Pabst Farms, a 1,500-acre mixed-use development. Upon full completion, the project will offer residential, retail, office and healthcare space with 360 acres of parks and green space. Tom Fritz, Brandon Duff and Christina Pecoraro of Stan Johnson represented the seller, a Wisconsin-based developer. Minneapolis-based SR Realty Trust Inc. purchased the asset.

January 27, 2020

Acquisitions Midwest Office Wisconsin

JLL Negotiates $9.6M Sale of Historic Office Property in Milwaukee

by Kristin Harlow January 27, 2020

MILWAUKEE — JLL Capital Markets has negotiated the sale of 222 East Erie in Milwaukee’s Third Ward district for $9.6 million. The brokerage also secured $7.6 million in acquisition financing through a Chicago-based financial institution. R2 Cos. was the buyer. Originally built in 1896 as a bakery, the property was repositioned in 2006 as a creative office asset. The four-story building features onsite parking. Jaime Fink, Jeffrey Bramson, Bruce Miller, Patrick Shields and Sam DiFrancesca of JLL represented the private seller. Christopher Carroll and Lucas Borges of JLL led the financing efforts.

January 27, 2020

Industrial Leasing Activity Midwest Wisconsin

Rust-Oleum Leases 102,000 SF of Industrial Space in Pleasant Prairie, Wisconsin

by Kristin Harlow January 24, 2020

PLEASANT PRAIRIE, WIS. — Rust-Oleum has leased 102,000 square feet of industrial space at 10100 Jelly Belly Lane in Pleasant Prairie. The owner, Jelly Belly Candy Co., will continue to occupy the remaining 132,000 square feet within the building. Kevin Barry and David Buckley of The Barry Co. brokered the lease transaction. Rust-Oleum, a manufacturer of protective paints and coatings, will use the space for its warehouse and distribution operations.

January 24, 2020

Acquisitions Midwest Retail Wisconsin

Mid-America Brokers Sale of 7,882 SF Retail Building in Oak Creek, Wisconsin

by Kristin Harlow January 21, 2020

OAK CREEK, WIS. — Mid-America Real Estate Corp. has brokered the sale of a 7,882-square-foot retail building on an outlot to Drexel Town Square in Oak Creek, about 12 miles south of Milwaukee. The sales price was undisclosed. The property is fully leased to five tenants, including Associated Bank, Sport Clips, Bentley’s Pet Stuff, Charles Schwab and Tropical Smoothie Café. Carly Gallagher Kelly and Andrew Prater of Mid-America represented the seller, a Wisconsin-based developer. A private investor purchased the asset.

January 21, 2020

Acquisitions Industrial Midwest Wisconsin

Barry Co. Brokers Sale of 54,417 SF Industrial Building in Waukesha, Wisconsin

by Kristin Harlow January 20, 2020

WAUKESHA, WIS. — The Barry Co. has brokered the sale of a 54,417-square-foot industrial building in Waukesha for an undisclosed price. The seller, Grace Elizabeth LLC, purchased the facility in 2016. The tenant, W.M. Sprinkman Corp., is a division of Krones AG and specializes in manufacturing food and beverage processing equipment. Pilot Court Industrial Property Group LLC purchased the building, which is located at 404 Pilot Court. David Barry of The Barry Co. brokered the sale.

January 20, 2020

Industrial Loans Midwest Wisconsin

Draper and Kramer Arranges $60M Refinancing for Milwaukee Industrial Portfolio

by Kristin Harlow January 15, 2020

MILWAUKEE — Draper and Kramer’s Commercial Finance Group has arranged a $60 million refinancing for an eight-property, 1.6 million-square-foot industrial portfolio located in metro Milwaukee. Dallas-based Westmount Realty Capital LLC owns the portfolio. All of the properties are situated near major regional highways and the General Mitchell International Airport. Westmount acquired the portfolio in 2015 and implemented a capital improvement program, helping push occupancy to nearly 100 percent. Mark Perkowski and Matthew Wurtzebach of Draper and Kramer arranged the nonrecourse loan with a national bank.

January 15, 2020

Civic Development Midwest Wisconsin

Gilbane Smith to Serve as Contractor for Wisconsin Center Expansion

by Kristin Harlow January 14, 2020

MILWAUKEE — Wisconsin Center District has selected Gilbane Building Co. and CD Smith (Gilbane Smith) to serve as construction manager for the expansion of the Wisconsin Center convention hall. Gilbane Smith and the architecture team of tvsdesign and EUA will immediately begin working together to formulate the design and determine a cost estimate for the project. However, the Milwaukee Business Journal estimates project costs at $300 million. Renderings are expected early in the second quarter. The Wisconsin Center District Board is expected to vote on a financing package for the project at a meeting on Thursday, April 2. The district owner’s representative is CAA/ICON. Wisconsin Center District is a government body created in 1994 to fund, build and operate the Wisconsin Center.

January 14, 2020

Acquisitions Hospitality Midwest Wisconsin

MCR Purchases 127-Room SpringHill Suites in Green Bay, Wisconsin

by Kristin Harlow January 13, 2020

GREEN BAY, WIS. — MCR Hotels, an owner and operator, has purchased the 127-room SpringHill Suites by Marriott Green Bay for an undisclosed price. The hotel is in close proximity to the Green Bay Packers’ Lambeau Field. Located at 1011 Tony Canadeo Run, the property features free breakfast, Wi-Fi, a convenience store, fitness center, indoor pool, business center and 1,020 square feet of meeting space. The seller was undisclosed.

January 13, 2020

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