KENOSHA, WIS. — Logistics Property Co. LLC (LPC) has broken ground on a 1 million-square-foot industrial development in Kenosha. The 67-acre site is situated just off I-94, less than 50 miles from Chicago. The speculative development, known as 94 Logistics Park, is slated for completion by the end of summer 2019. Building One will span 750,000 square feet for regional distribution use. Building Two will span 288,000 square feet and will be geared toward manufacturing and local distribution companies. Fred Regnery, Ned Frank and Steve Sewart of Colliers International will market the development for lease.
KENOSHA, WIS. — Zilber Property Group has leased a 42,235-square-foot industrial building to Paasche Airbrush Co. in Kenosha. Located in the Business Park of Kenosha, the recently constructed facility features a clear height of 28 feet and is located near I-94. Established in 1904, Paasche Airbrush is a family-owned and operated manufacturer of artist airbrushes, industrial spray guns and spray booths. Brett Kroner and Keith Puritz of Cushman & Wakefield represented the tenant in the lease transaction. Michael Kleber, Sergio Chapa and Mike Prost of Newmark Knight Frank represented Zilber Property Group.
APPLETON, WIS. — Altitude Trampoline Park has signed a 33,247-square-foot lease to open its first Wisconsin facility in Appleton. The property is located at 4914 Integrity Way. The indoor trampoline park will include a ropes course, ninja course, rock wall, extreme dodge ball, zip lines and foam pits. John Day of The Woodmont Company and Patrick Owens of Transwestern represented the tenant in the lease transaction. Mark Pucci and Adam Figurin of Colliers International represented the landlord, Alliance Development.
WISCONSIN RAPIDS, WIS. — The Boulder Group has arranged the $5.2 million sale of a single-tenant property net leased to Pick ‘n Save in Wisconsin Rapids. The 46,608-square-foot property is located at 900 E. Riverview Expressway. Wisconsin Rapids is in the central part of Wisconsin.Pick ‘n Save recently expanded its lease for 10 years. The store is scheduled to undergo a $2 million interior remodeling in 2019. The property was originally constructed in 1980. Randy Blankstein and Jimmy Goodman of Boulder represented the seller, a Midwest-based real estate company. A West Coast-based real estate fund purchased the asset.
MILWAUKEE — Korb + Associates Architects and structural engineering firm Thornton Tomasetti have unveiled the design for a proposed 21-story timber tower in downtown Milwaukee. New Land Enterprises is the developer for the 410,000-square-foot project known as Ascent. The multifamily building will include street-level retail space. At 238 feet tall, the tower is poised to become the tallest timber structure in the western hemisphere, according to Thornton Tomasetti. Mass timber structures help absorb carbon dioxide and save energy. They performs as well as, or better than, traditional materials in fire, earthquake and wind conditions, according to the project team. Construction is expected to begin in the fall of 2019.
POLAND, OHIO AND MADISON, WIS. — HREC Investment Advisors has arranged the sale of the 117-room Red Roof Inn in Poland, Ohio, and the 108-room Red Roof Inn in Madison, Wis. The properties were sold separately to different investors for undisclosed prices. Each hotel will undergo renovations. Herb Warmbrodt, Zane Varvel, Lewis Thompson, Tom Sommer and Jim Merkel of HREC represented the seller.
MILWAUKEE — R2 Cos. has purchased The Tannery, a six-building, 253,022-square-foot office complex on Virginia Street in Milwaukee’s Walker’s Point neighborhood. The purchase price was not disclosed. Ned Purtell and Scott Revolinski of Founders 3 Real Estate Services represented the seller, SARA Investment Real Estate. The property is home to several tenants, including Aurora Healthcare, Great Lakes Distillery and Springfield College.
WAUKESHA, WIS. — Marcus & Millichap has negotiated the sale of Goerkes Corners in Waukesha for $9.5 million. The 555-unit self-storage facility is located at 21300 Doral Road. Constructed in 2015, the property features both climate-controlled and non-climate-controlled units. Sean Delaney and Michael Mele of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured and represented the buyer, a limited liability company affiliated with Baron Properties in Denver.
GREENFIELD, WIS. — Quantum Real Estate Advisors Inc. has brokered the $4.1 million sale of Outback Plaza in Greenfield, a southern suburb of Milwaukee. Mattress Firm, Destination XL, CitiBank and Phoenix Salon Suites occupy the 22,558-square-foot retail property. Chad Firsel of Quantum represented the seller, a Chicago-based acquisition and development company. A Scottsdale, Ariz.-based private real estate investor purchased the asset.
KAUKAUNA, WIS. — Dollar Tree has signed a 9,525-square-foot lease in Kaukauna, about nine miles east of Appleton. The property is located at 321 W. Main St. Ross Koepsel and Nick Tice of Founders 3 Real Estate Services represented the tenant in the lease transaction. The landlord was not disclosed.