Wisconsin

MBH Brokers Sale of Historic Sentinel Building in Downtown Milwaukee

by Kristin Harlow September 6, 2018

MILWAUKEE — MBH Investment Real Estate LLC has brokered the sale of the historic Sentinel Building in downtown Milwaukee. Sentinel Suites LLC purchased the 31,848-square-foot office property, located at 225 E. Mason St., for an undisclosed price. The 10-story building was 51 percent occupied at the time of sale. The Milwaukee Journal Sentinel originally occupied a three-story building on the site beginning in 1864. As the newspaper grew in circulation, the current 10-story building was constructed in 1893 to replace the smaller building. The newspaper continued to operate at the site until 1930. The new owner plans to rebrand the office building as Sentinel Suites. Matson Holbrook of MBH marketed the property on behalf of the seller, 225 East Mason Property LLC.

September 6, 2018

Development Midwest Retail Wisconsin

Milwaukee Bucks Open New $524M Arena

by Kristin Harlow August 28, 2018

MILWAUKEE — The Milwaukee Bucks have officially opened Fiserv Forum, the new basketball arena in downtown Milwaukee. A ribbon cutting ceremony took place on Sunday, Aug. 26. Construction costs were estimated at $524 million, according to local media reports. The 730,000-square-foot venue will also host Marquette University’s men’s basketball team and a variety of events such as concerts. Fiserv Forum will seat 17,500 people for basketball events and feature more than 12,000 square feet of video displays. MKEat is a locally focused food and beverage program implemented at the arena. Populous, Eppstein Uhen Architects and HNTB designed the project. Mortenson served as the general contractor. Founding partners for Fiserv Forum include BMO Harris Bank, Froedtert & the Medical College of Wisconsin, Johnson Controls and Miller Brewing Co.

August 28, 2018

Acquisitions Industrial Midwest Wisconsin

Brennan Acquires 500,081 SF Industrial Portfolio in Wisconsin, Pennsylvania

by Kristin Harlow August 28, 2018

WISCONSIN AND PENNSYLVANIA — Brennan Investment Group LLC has acquired a three-building industrial portfolio totaling 500,081 square feet in metro Green Bay, Wisconsin, and northeastern Pennsylvania. The purchase price was not disclosed. Progressive Converting Inc., a paper converting company, fully occupies the properties, which include the company’s corporate headquarters and primary manufacturing facilities. Brennan is based in Chicago.

August 28, 2018

Development Midwest Multifamily Wisconsin

McShane to Construct 177-Unit Apartment Complex in West Allis, Wisconsin

by Kristin Harlow August 27, 2018

WEST ALLIS, WIS. — McShane Construction Co. will serve as general contractor for Six Points Apartments in West Allis, a western suburb of Milwaukee. Mandel Group Inc. is the developer. The first level of the four-story apartment complex will consist of a parking structure. Three levels of apartments comprising 177 units will be situated above the parking structure. Amenities will include a club area, fitness center and rooftop patio. This is McShane’s first major assignment in Wisconsin since opening an office in Madison earlier this year. Zimmerman Architectural Studios will serve as project architect.

August 27, 2018

Acquisitions Industrial Midwest Self-Storage Wisconsin

Founders 3 Brokers $6M Sale of Self-Storage Facility in Milwaukee

by Kristin Harlow August 27, 2018

MILWAUKEE — Founders 3 Real Estate Services has brokered the sale of Birchwood Storage in Milwaukee for $6 million. The 487-unit self-storage facility is located on 6.3 acres at 5115 W. Good Hope Road. The property consists of 57 climate-controlled units and 430 non-climate-controlled units. Paul McBride of Founders 3 represented the buyer, Good Hope Road Self Storage LLC. Birchwood Good Hope Road LLC was the seller.

August 27, 2018

Leasing Activity Midwest Office Wisconsin

FIS Signs 124,550 SF Office Lease in Milwaukee

by Kristin Harlow August 20, 2018

MILWAUKEE — Fidelity National Information Services Inc. (FIS) has signed a 124,550-square-foot office lease at Parkland Center in Milwaukee. The financial services technology and outsourcing services company will occupy the second and third floors of the Class A building, which was formerly home to Molina Healthcare of Wisconsin Inc. The building underwent an extensive renovation in late 2016, including a complete update of the lobby and the addition of a fitness center and full-service cafeteria. FIS joins neighboring tenant Global Industrial to bring the 222,704-square-foot building to an occupancy level of 67 percent. Ned Purtell and Patti Stevens of Founders 3 Real Estate Services represented the landlord, Griffin Capital Essential Asset REIT Inc., in the lease transaction. Erik Ozolins of Orion Realty Group and Kate Hanson of Founders 3 represented FIS.

August 20, 2018

Acquisitions Industrial Midwest Wisconsin

Colliers Brokers $4.3M Sale of Industrial Building in Hartland, Wisconsin

by Kristin Harlow August 13, 2018

HARTLAND, WIS. — Colliers International has brokered the $4.3 million sale of a 58,828-square-foot industrial building in Hartland, a western suburb of Milwaukee. Printing company JTS Direct LLC fully occupies the property, which is located at 1180 Walnut Ridge Drive. Tom Shepherd, Jennifer Huber-Bullock and Steve Sewart of Colliers represented the seller, SH 1180 Walnut Ridge LLC. Kashou Brothers LLC purchased the asset.

August 13, 2018

Acquisitions Midwest Retail Wisconsin

Mid-America Brokers $10.2M Sale of Shopping Center in Oshkosh, Wisconsin

by Kristin Harlow August 9, 2018

OSHKOSH, WIS. — Mid-America Real Estate Corp. has brokered the sale of Oshkosh Center II for $10.2 million. The 107,456-square-foot shopping center is located at the northeast corner of 20th Avenue and Koeller Street in Oshkosh, nearly 90 miles northwest of Milwaukee. Anchor tenants include Pick ’n Save and Office Max. The sale also includes a 4,150-square-foot outlot building for a total of 111,606 square feet. Carly Gallagher, Rick Drogosz and Dan Rosenfeld of Mid-America brokered the transaction on behalf of the seller, Marlin Properties. Cincinnati-based Midland Atlantic purchased the asset.

August 9, 2018

Development Midwest Mixed-Use Top Stories Wisconsin

Michels to Develop ‘Transformative’ $100M Mixed-Use Project Along Milwaukee’s Riverfront

by John Nelson August 7, 2018

MILWAUKEE — Michels Corp., a utility and civil engineering firm based in Wisconsin, is planning to develop a $100 million mixed-use project on six acres of riverfront property in Milwaukee’s Harbor District. Dubbed RIVER 1, the development will include about 220,000 square feet of office space, 19,000 square feet of retail and restaurant space, 67 multifamily residences, a 103-room hotel, 1,000 underground parking spaces and riverwalk space. “What the Michels Family proposes on the banks of the Kinnickinnic River adds economic activity, public access to the water and a transformative new investment in the Harbor District,” says Milwaukee Mayor Tom Barrett. The project is situated at the corner of Becher and 1st streets and is bordered on two sides by a bend in the Kinnickinnic River. The site serves as the gateway into the Walker’s Point and Bay View neighborhoods and was the former home of Horny Goat Brew Pub, according to local media outlets. Michels will anchor an eight-story office building as part of the project’s first phase. Slated to break ground this fall, Phase I will also include buildings fronting 1st Street that will feature apartments, retail and a 103-room hotel. The first phase will also include a …

August 7, 2018

Acquisitions Industrial Midwest Wisconsin

Colliers Brokers Sale of Caterpillar Manufacturing Campus in Milwaukee

by Kristin Harlow August 2, 2018

MILWAUKEE — Colliers International has brokered the sale of a 750,300-square-foot Caterpillar manufacturing campus in South Milwaukee. The sales price was $13.3 million, according to the Milwaukee Business Journal. Caterpillar used the eight-building campus, located at 1022 and 1100 Milwaukee Ave., for its global mining operations. The company is in the process of vacating the property, but still has an ongoing lease. Tom Shepherd, Jennifer Huber-Bullock, Steve Sewart and Sal Strehlow of Colliers represented the seller, New York-based OLP JV Milwaukee LLC. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company Inc./CORFAC International represented the buyer, New York-based 1100 Milwaukee Ave. LLC. Reich Brothers Holdings LLC was the managing partner for the buyer.

August 2, 2018

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