PRAIRIE DU CHIEN, WIS. — Timber Development has sold Nathan Plaza, a 27,880-square-foot shopping center in Prairie du Chien in western Wisconsin. The fully occupied property, home to Dollar Tree and Maurices, is located on Selch Road adjacent to a Walmart Supercenter. Erin Patton, Scott Wiles and Craig Fuller of Marcus & Millichap represented Timber in the $2.8 million sale. A local 1031 exchange buyer purchased the asset.
PLEASANT PRAIRIE, WIS. — Hunt Real Estate Capital has provided four Freddie Mac small balance loans totaling $26.8 million to refinance four multifamily properties in Pleasant Prairie. The properties, totaling 202 units, include Fountain Ridge II through V. The borrower, Jeff Marlow, purchased the land for all four properties in September 2016 and completed construction in 2018. All properties are currently fully occupied. The 10-year, fixed-rate loans feature 30-year amortization schedules.
GRAFTON, WIS. — Cushman & Wakefield | Boerke has negotiated the $2.7 million sale of Creekside Plaza in Grafton, about 25 miles north of Milwaukee. The 11,823-square-foot retail center is located at 2225 W. Wisconsin Ave. It is fully leased to Athletico, Country Financial, H&R Block, Pizza Hut, Royal Nails and Sherwin-Williams. John Kuhn, David Tighe, Matthew Medvecz and Daniel McBride of Cushman & Wakefield | Boerke brokered the sale. Coastal Partners LLC sold the asset to an out-of-state, 1031 exchange buyer.
BROOKFIELD, WIS. — Pathway to Living and Caddis Healthcare Real Estate have opened Heartis Village Brookfield, an assisted living and memory care community in Brookfield, a suburb of Milwaukee. The property totals 70 assisted living units and 24 memory care units on a 10-acre plot. Assisted living units range in size from 351 to 917 square feet. Memory care units range in size between 293 to 306 square feet. During development, Caddis Healthcare gifted 2.9 acres of land to the city of Brookfield to support the development of a public park. Heartis Village Brookfield is the fourth Heartis-owned community managed by Pathway.
VERONA, WIS. — ACS, an equipment, controls and facility solutions provider, is building a new 48,000-square-foot headquarters within Liberty Business Park in Verona, a suburb of Madison. The property will be situated on 5.7 acres at the southeast corner of Whalen Road and Liberty Drive. A groundbreaking ceremony took place on Friday, Nov. 1. Completion is slated for late 2020. Eppstein Uhen Architects and Ideal Builders make up the project team. Terry McMahon, Steve Styza and Cody Ziegler of Cushman & Wakefield | Boerke represented ACS in the land purchase. Katie West of Oakbrook Corp. represented the seller, Whalen Investments LLC.
MADISON, WIS. — Harbor Group International LLC has acquired the headquarters of Spectrum Brands in Madison for $52 million. The single-tenant office building was originally built in 2013 and renovated in 2017. It rises four stories and spans 252,122 square feet. Spectrum Brands, a hardware, home improvements and pet supplies company, occupies the property on a net-lease basis through 2034. Livesey Co. was the seller.
STURTEVANT, WIS. — Newmark Knight Frank (NKF) has arranged the sale of a 350,274-square-foot industrial property located at 7601 Durand Ave. in Sturtevant. Neither the sales price nor the buyer were disclosed. Michael Prost, Sergio Chapa and Corey Chase of NKF represented the seller, Venture One Real Estate. NKF represented Venture One in January 2018 when the company acquired the property. Since then, Venture One implemented improvements such as a new roof, parking lot, lighting, façade and offices. The building features 24,000 square feet of office space and 30 dock doors.
MENOMONEE FALLS, WIS. — Hanes Cos. has signed a 25,000-square-foot industrial lease in Menomonee Falls. The property is located on Old Orchard Road. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of Dickman Co. Inc. represented the landlord, House 10 LLC, in the lease transaction. Bill Langhoff of Colliers International represented Hanes.
DELAFIELD, WIS. — An affiliate of Next Realty LLC has acquired Hillside Terrace Shopping Center in Delafield, about 25 miles west of Milwaukee. The purchase price was not disclosed. The 17,000-square-foot retail center is located on Hillside Drive. The property is fully leased to tenants such as Jimmy John’s, Pizza Hut, Stone Creek Coffee and Chris & Co. Salon. This is the seventh acquisition for Next Realty Fund IX LP.
GLENDALE, WIS. — Cypress Equities has acquired the 1.2 million-square-foot Bayshore Town Center in Glendale near Milwaukee. The purchase price was not disclosed. Cypress plans to reposition the property into an entertainment, shopping, dining and mixed-use project. Once complete, the re-envisioned center will include new architecture, landscaping and art by local creatives. Plans call for more retailers, restaurants, a select-service hotel, 300 new residential units, Class A office space and coworking space. The park area will be upgraded and include programmed, year-round entertainment. The project will be completed in phases through late 2020.