Wisconsin

Serendipity Labs Coworking to Open Near Madison, Wisconsin

by Kristin Harlow April 8, 2019

MADISON, WIS. — Serendipity Labs Coworking will open a shared workplace on the sixth floor of 525 Junction Road in Middleton, about six miles west of Madison. Franchisee Ryan Jacobson will own and operate the 23,000-square-foot location. The Lab will feature offices, team rooms, focus rooms, wellness rooms, a lounge and café. Michael Berman, David Pudlosky and Nick Hepner of JLL represented Serendipity Labs in the lease transaction. Brett Rieman of JLL represented Artis REIT, the landlord and property manager.

April 8, 2019

Acquisitions Midwest Restaurant Retail Wisconsin

Quantum Brokers $2.8M Sale of Popeyes-Occupied Property in Fitchburg, Wisconsin

by Kristin Harlow April 8, 2019

FITCHBURG, WIS. — Quantum Real Estate Advisors Inc. has brokered the $2.8 million sale of a Popeyes-occupied property in Fitchburg, just south of Madison. The 4,442-square-foot building is located at 2844 Fish Hatchery Road. Popeyes has approximately 20 years left on its lease. Chad Firsel and Zack Hilgendorf of Quantum brokered the transaction. A private buyer based in Seattle purchased the property from a Chicago-based developer.

April 8, 2019

Acquisitions Industrial Midwest Wisconsin

Hillwood Acquires Two Logistics Facilities Totaling 338,000 SF in Wisconsin

by Kristin Harlow April 4, 2019

YORKVILLE, WIS. — Hillwood, a Perot company, has acquired two logistics facilities totaling 338,000 square feet as well as 58 acres of vacant land within Grandview Business Park in Yorkville. The purchase price was not disclosed. The two buildings are fully occupied by five tenants. Property features include clear heights of 30 feet and 145-foot truck courts. The vacant land can support up to 845,000 square feet of new construction. Grandview Business Park has convenient access to I-94 and is located within Racine County near the Illinois border.

April 4, 2019

Acquisitions Midwest Multifamily Wisconsin

MLG Capital Acquires 100-Unit Multifamily Complex in Milwaukee for $16M

by Kristin Harlow April 3, 2019

MILWAUKEE — MLG Capital has acquired Frederick Lofts in Milwaukee for $16 million. The 100-unit multifamily complex is located in The Brewery neighborhood. Amenities include a resident clubhouse, fitness center, yoga room, media room, underground parking and rooftop deck. MLG Capital plans to upgrade the unit interiors in order to maintain the property’s Class A status.

April 3, 2019

Acquisitions Industrial Midwest Wisconsin

Founders 3 Arranges $1.8M Sale of Industrial Building in New Berlin, Wisconsin

by Kristin Harlow April 2, 2019

NEW BERLIN, WIS. — Founders 3 Real Estate Services has arranged the sale of a 21,761-square-foot industrial building in New Berlin for $1.8 million. The property is located at 5462-5482 S. Westridge Drive. Brett Deter of Founders 3 represented the buyer, Olive Square Realty LLC. WLC Properties LLC was the seller.

April 2, 2019

Loans Midwest Office Retail Wisconsin

North Wells Capital Receives $26.6M Loan for Ongoing Redevelopment of Former Bon-Ton Headquarters in Milwaukee

by Kristin Harlow March 27, 2019

MILWAUKEE — North Wells Capital LLC has received a $26.6 million loan for the ongoing renovation and redevelopment of the former Bon-Ton headquarters in Milwaukee. Meridian Capital Group arranged the loan with A10 Capital. North Wells acquired the 429,000-square-foot property in May 2017 and renamed it HUB640 after its address at 640 N. 4th St. North Wells is gutting and renovating the building to provide offices for multiple companies, and is marketing the first floor to new retailers. The $26.6 million loan provides long-term financing for the company’s purchase of the property and secures money to build out interior spaces for future tenants. The 120-year-old building served as the corporate headquarters for The Bon-Ton Stores, and as the flagship site of one of its retail brands, The Boston Store, since completion. Bon-Ton filed for bankruptcy in 2018 and was sold and liquidated.

March 27, 2019

Acquisitions California Florida Illinois Industrial Minnesota Top Stories Wisconsin

WPT Industrial REIT Acquires U.S. Logistics Portfolio for $226M

by John Nelson March 26, 2019

TORONTO — WPT Industrial Real Estate Investment Trust, a publicly traded company based in Toronto, has increased its U.S. holdings by agreeing to acquire a 13-property logistics portfolio for approximately US$226 million. The industrial buildings total 2.2 million square feet and are situated in infill submarkets across the United States. The property names and addresses were not disclosed, but WPT says the portfolio will increase its scale in Chicago, Milwaukee and Minneapolis. The portfolio also includes assets in three new markets for the REIT, including Los Angeles and Miami. Additionally, WPT has confirmed that eight of the assets are leased to a single tenant and the other five are leased to multiple tenants. “We are very pleased to source a high-quality portfolio acquisition that advances the REIT’s strategic priorities to add scale and diversification with a focus on markets and properties that have the greatest potential to drive long-term growth,” says Scott Frederiksen, CEO of WPT. WPT plans to fund the acquisition with cash on hand and proceeds from its senior unsecured credit facility. In anticipation of the purchase, WPT has received lender commitments to amend and extend the credit facility from US$300 million to $450 million. The REIT expects …

March 26, 2019

Acquisitions Industrial Midwest Wisconsin

Nordic Realty Partners Purchases 19,500 SF Industrial Building in Sturtevant, Wisconsin

by Kristin Harlow March 20, 2019

STURTEVANT, WIS. — Nordic Realty Partners has purchased a 19,500-square-foot industrial building located at 9900 Durand Ave. in Sturtevant, about 30 miles south of Milwaukee, for an undisclosed price. The property includes 5,000 square feet of office space and 14,500 square feet of warehouse space. Nordic plans to make capital improvements and lease the space to one or more tenants. Titan Inc., a machinery manufacturing and testing firm recently acquired by Burke Porter Group, formerly occupied the building. The company is relocating to a larger facility. NAI MLG Commercial represented the seller in the transaction.

March 20, 2019

Midwest Retail Wisconsin

Shopko to Liquidate Assets, Close All Stores

by Kristin Harlow March 19, 2019

ASHWAUBENON, WIS. — Shopko, a Wisconsin-based retailer, has announced the commencement of its liquidation sale. The company will close all of its stores. In January, Shopko filed for bankruptcy protection, but was unable to secure a buyer. Gordon Brothers will oversee the liquidation process, which is expected to conclude 10 to 12 weeks from now. The vast majority of Shopko’s stores are located in the Midwest, but the company also operates a number of locations in the western portion of the country. Shopko is evaluating a strategy for its optical business. The first Shopko store opened in Green Bay in 1962.

March 19, 2019

Development Industrial Midwest Self-Storage Wisconsin

Phoenix Investors to Convert Wisconsin Industrial Facility into Self-Storage

by Kristin Harlow March 19, 2019

MOUNT PLEASANT, WIS. — Phoenix Investors has unveiled plans to convert its industrial facility located at 7505 Durand Ave. in Mount Pleasant into self-storage use. Phoenix plans to add up to 2,000 climate-controlled units at the 200,000-square-foot property. Store Here Self Storage will operate the facility.

March 19, 2019

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