Wisconsin

Trifinity Signs 250,000 SF Industrial Lease in Kenosha, Wisconsin

by Kristin Harlow January 9, 2020

KENOSHA, WIS. — Trifinity Specialized Distribution, a logistics firm that serves major big-box stores and drug retailers, has signed a 250,000-square-foot industrial lease in Kenosha. Trifinity will occupy space at Zilber Industrial III, located at 5312 104th Ave. The recently constructed facility features 24 dock doors, three drive-in doors and convenient access to I-94. Trifinity will move into the facility by the end of this month. Founded a quarter century ago in Waukegan, Illinois, Trifinity currently employs approximately 50 workers, all of whom will relocate to the new facility. Thomas Boyle of Lee & Associates represented Trifinity in the lease transaction. Sergio Chapa and Michael Prost of Newmark Knight Frank, along with Michael Kleber of Zilber Property Group, represented the owner, Zilber Property Group.

January 9, 2020

Leasing Activity Midwest Restaurant Retail Wisconsin

Pizza Chain Lou Malnati’s Leases 2,074 SF in Milwaukee

by Kristin Harlow January 2, 2020

MILWAUKEE — Lou Malnati’s Pizzeria has leased 2,074 square feet at Riverpoint Village in Milwaukee. The Chicago-style pizza restaurant chain will occupy space at 8629 N. Port Washington Road. Fred Stallé of Mid-America Real Estate-Wisconsin represented the undisclosed landlord in the lease transaction.

January 2, 2020

Industrial Loans Midwest Wisconsin

Associated Bank Provides $33.1M Construction Loan for Industrial Building in Pleasant Prairie, Wisconsin

by Kristin Harlow December 23, 2019

PLEASANT PRAIRIE, WIS. — Associated Bank has provided a $33.1 million loan for the construction of a 590,525-square-foot industrial building within Stateline 94 Business Park in Pleasant Prairie. Fresenius Kabi, a healthcare company specializing in lifesaving medicines and technologies, will occupy the building upon completion in July 2020. The borrower and developer, Bluepoint 94 LLC, is a joint venture between Venture One Real Estate and CRG. Clayco will serve as general contractor. Elizabeth Hozian of Associated Bank handled the loan arrangements and closing.

December 23, 2019

Acquisitions Illinois Indiana Industrial Midwest Ohio Wisconsin

Starwood Acquires 33-Property Industrial Portfolio in Midwest for $319.6M

by Kristin Harlow December 12, 2019

CHICAGO, INDIANAPOLIS, COLUMBUS AND MILWAUKEE — Starwood Real Estate Income Trust Inc., a non-traded real estate investment trust managed by Starwood Capital Group, has acquired a 33-property industrial portfolio totaling 4.1 million square feet in the Midwest for approximately $319.6 million, excluding closing costs. The properties are located in Chicago, Indianapolis, Columbus and Milwaukee. The portfolio is 98 percent leased to 50 tenants. It is largely comprised of light industrial buildings of less than 250,000 square feet. Kurt Sarbaugh, Robin Stolberg, Michael Joseph and Dominic Espinosa of JLL represented the seller, Becknell Industrial and a joint venture partner. Becknell will retain its position in the portfolio. Ken Martin, Alex Witt, Troy Shiley and Nelson Almond of JLL arranged a 10-year, $210 million fixed-rate CMBS loan with a global investment bank on behalf of new ownership.

December 12, 2019

Acquisitions Midwest Retail Wisconsin

Boulder Group Arranges $2.3M Sale of Net Leased Piggly Wiggly Store in Wisconsin

by Kristin Harlow December 12, 2019

NEW HOLSTEIN, WIS. — The Boulder Group has arranged the $2.3 million sale of a single-tenant property net leased to grocer Piggly Wiggly in New Holstein, about 40 miles south of Green Bay. The 29,651-square-foot building is located at 2243 Calumet Drive. There are more than eight years remaining on Piggly Wiggly’s lease. Randy Blankstein and John Feeney of Boulder represented the seller, a Wisconsin-based partnership. A Midwest-based individual purchased the asset while completing a 1031 tax-deferred exchange.

December 12, 2019

Acquisitions Industrial Midwest Wisconsin

Venture One Acquires 151,474 SF Industrial Building in Mount Pleasant, Wisconsin

by Kristin Harlow December 11, 2019

MOUNT PLEASANT, WIS. — VK Industrial V LP, a partnership between Venture One Real Estate and Kovitz Investment Group, has acquired a 151,474-square-foot industrial building in Mount Pleasant for an undisclosed price. The facility, built in 2007, is located at 3535 Oakes Road. The building features a clear height of 21.5 feet, six exterior docks, two drive-in doors and 8,372 square feet of office space. A concrete parking lot can accommodate 301 cars and 112 trailers. The site can accommodate additional outdoor storage, parking or an industrial build-to-suit on an adjacent 25-acre parcel. Brian Bocci of Entre Commercial Realty represented Venture One in the transaction and will be retained to market the vacant property for lease. The seller was undisclosed.

December 11, 2019

Market Reports Midwest Midwest Market Reports Retail Wisconsin

Milwaukee Market Experiences Development Boom Across Neighborhoods

by Kristin Harlow November 28, 2019

Milwaukee has experienced development at an unbelievable rate, and within the past couple of years there has truly been a downtown renaissance worth bearing witness. The city has done an excellent job of creating value, attracting jobs and spurring development that has led to unprecedented economic and social revitalization. With both local and national headlines praising Foxconn, Amazon, Northwestern Mutual and the Milwaukee Bucks, it is no wonder things have changed. While Milwaukee continues its quest to establish itself as the Great Lakes capital, the changes happening to its culture are what appear to have everyone on their feet. Between the East Side, downtown, Historic Third Ward, Walker’s Point and Bay View, there are so many cool concepts coming online, each of which showcases the unique character of the area it serves. From the Bucks Entertainment District to Zocalo food truck park (Phelan Development), there is something different in just about every corner. It comes as no surprise much of the action is coming from the food and beverage segment, as Milwaukee is after all “Brew City.” One of these concepts is Crossroads Collective. Crossroads is the brainchild of developer Tim Gohkman with New Land Enterprises. The food hall took …

November 28, 2019

Acquisitions Hospitality Midwest Wisconsin

Marcus & Millichap Negotiates $5.8M Sale of 79-Room Hotel in Wisconsin

by Kristin Harlow November 27, 2019

WATERTOWN, WIS. — Marcus & Millichap has negotiated the $5.8 million sale of a 79-room Holiday Inn Express hotel in Watertown, which is situated in between Madison and Milwaukee. Built in 1996, the property is located at 101 Aviation Way. Ebrahim Valliani, John Yurich, Allan Miller and Chris Gomes of Marcus & Millichap marketed the hotel for sale on behalf of the seller, a private investor. Jake Erickson and Jared Plamann of Marcus & Millichap’s Minneapolis office secured and represented the buyer, a limited liability company.

November 27, 2019

Acquisitions Industrial Midwest Wisconsin

Dickman Co./CORFAC International Arranges Sale of 16,000 SF Industrial Building in Wisconsin

by Kristin Harlow November 26, 2019

HARTFORD, WIS. — The Dickman Co./CORFAC International has arranged the sale of a 16,000-square-foot industrial building in Hartford, about 40 miles northwest of Milwaukee. The property is located at 1024-26 Western Drive. Nick Keys and TJ Huenerbein of Dickman represented the seller, WB Investments LLC. Endpoint Group LLC purchased the building. Tenants were not disclosed.

November 26, 2019

Acquisitions Hospitality Midwest Wisconsin

Midas Hospitality Acquires 160-Room Aloft Hotel in Downtown Milwaukee

by Kristin Harlow November 25, 2019

MILWAUKEE — Midas Hospitality has acquired Aloft Milwaukee Downtown, a 160-room hotel located at 1230 Old World Third St. The purchase price was nearly $26.5 million, according to the Milwaukee Business Journal. Jackson Street Holdings LLC developed the property in 2009. The hotel is home to five meeting rooms, a bar, fitness center, indoor swimming pool and outdoor space. It is adjacent to Fiserv Forum, the new arena for the Milwaukee Bucks basketball team. This is the third hotel Midas has acquired through its Midas Hotel Fund, which has raised $25 million to date. Aloft is under the Marriott umbrella of hotels.

November 25, 2019

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