Wisconsin

Colliers Brokers Sale of 146,532 SF Industrial Building in Milwaukee

by Kristin Harlow October 6, 2017

MILWAUKEE — Colliers International has brokered the sale of Canal Street Commerce Center in the Menomonee Valley near downtown Milwaukee. The sales price was not disclosed. The 146,532-square-foot infill industrial building is located at 1301 W. Canal St. Milsco Manufacturing and Stamm Technologies recently signed anchor leases, bringing the property to 100 percent occupancy. Other tenants include Prolitec, Pittsburgh Glassworks, Rexnord, Industrial Controls and Bence-Build. A group led by LCM Funds Real Estate LLC acquired the building. Tom Shepherd and Mark Schnoll of Colliers represented the seller, Ziegler/Bence Partners 5 LLC, which developed the property in 2007. The site had previously been part of the Milwaukee stockyards.

October 6, 2017

Loans Midwest Wisconsin

Associated Bank Provides $2.3M Equity for Renovation of Green Bay YMCA

by Kristin Harlow October 6, 2017

GREEN BAY, WIS. — Associated Bank has provided $2.3 million of Wisconsin Historic Tax Credit (HTC) equity for the renovation of the Green Bay Ferguson Family YMCA. The 112,000-square-foot building is located at 235 N. Jefferson St. The building received extensive structural and mechanical improvements, as well as updates to the gymnastics center and pool. A new family adventure center was also constructed. Associated Bank also provided a $7 million loan last year when renovations at the facility began. Teresa Gutierrez of Associated Bank managed the equity investment, while Julian Lamue handled the loan arrangements and closing.

October 6, 2017

Loans Midwest Seniors Housing Wisconsin

Pillar Arranges $13.6M HUD Refinancing Loan for Skilled Nursing Facility in Menasha, Wisconsin

by Kristin Harlow October 5, 2017

MENASHA, WIS. — Pillar has arranged a $13.6 million HUD 232/223(f) loan for the refinancing of Oakridge Gardens Nursing Center in Menasha, five miles south of Appleton. The 143-bed skilled nursing facility is located at 1700 Midway Road. Don Husi of Pillar arranged the 30-year loan, which includes a 30-year amortization schedule. Husi also arranged a $7.2 million loan for Oakwood Terrace, an assisted living facility in Pennsylvania.

October 5, 2017

Midwest Seniors Housing Wisconsin

Evergreen Acquires 72-Unit Seniors Housing Community in Racine, Wisconsin

by Kristin Harlow October 5, 2017

RACINE, WIS. — Evergreen Real Estate Group has acquired Durand Plaza in Racine, 25 miles south of Milwaukee. The purchase price was not disclosed. The 72-unit affordable seniors housing community is located at 3003 Durand Ave. Residents can qualify for occupancy by being either elderly or disabled. Originally constructed in 1970, the four-building property will undergo a $2 million renovation within the next six to nine months. Evergreen will make kitchen and bath upgrades to most units.

October 5, 2017

Industrial Midwest Wisconsin

Majestic Realty Plans 2MSF Industrial Park in Kenosha, Wisconsin

by Kristin Harlow September 29, 2017

KENOSHA, WIS. — Majestic Realty Co. has acquired a former dog-racing track known as Dairyland Greyhound Park in Kenosha for an undisclosed price. Majestic plans to convert the dog track, which closed seven years ago, into an industrial business park. Dubbed the Midwest Innovation Center prior to the sale, the 228-acre site has room for 2 million square feet of development, including a 1 million-square-foot building. Located at 5522 104th Ave., the site is nearly halfway between Milwaukee and Chicago. Thomas Boyle of Transwestern represented the seller, Rime Investments LLP.

September 29, 2017

Industrial Loans Midwest Wisconsin

Walker & Dunlop Arranges $39.3M Refinancing for Industrial Properties in Wisconsin

by Kristin Harlow September 28, 2017

WISCONSIN — Walker & Dunlop Inc. has arranged a portfolio of loans totaling $39.3 million for the refinancing of four industrial properties in Wisconsin. WOW Logistics, a private warehousing company serving the dairy and paper industries, was the borrower. One property located in Idaho was also part of the loan transaction. The buildings are all owner-occupied, but some facilities are leased to subtenants. Matthew Lund of Walker & Dunlop arranged the fixed-rate loans with separate lenders, including three life insurance companies and two banks.

September 28, 2017

Industrial Midwest Wisconsin

ORG Acquires 879,704 SF Industrial Portfolio in Milwaukee

by Kristin Harlow September 25, 2017

MILWAUKEE — Oak Realty Group Inc. (ORG) has acquired an 879,704-square-foot industrial portfolio in Milwaukee. The 10 buildings are situated on approximately 57 acres near Milwaukee’s General Mitchell International Airport. Originally constructed in phases through 2004 by a local developer, the buildings range in size from 40,000 to 215,000 square feet. ORG plans to upgrade and renovate the portfolio, as well as work with several tenants who want to expand. ORG partnered with The Africk Family Office for the acquisition.

September 25, 2017

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American Campus Communities Acquires 3,776-Bed Student Housing Portfolio for $590.6M

by Taylor Williams September 25, 2017

AUSTIN, TEXAS — American Campus Communities Inc. (NYSE: ACC) has acquired a portfolio of seven student housing properties totaling 3,776 beds across the Western and Midwestern United States for approximately $590.6 million. Affiliates of Milwaukee-based development firm and Core Spaces and Chicago-based DRW Real Estate Investments LLC sold the assets. All of the properties are associated with major universities, with enrollment averaging about 35,000 undergraduate and graduate students at each school. The company will invest about $8 million in up-front capital improvements to the portfolio. Two of the properties are stabilized: the 513-bed Hub Eugene and the 655-bed State, which service students at the University of Oregon and Colorado State University, respectively. The company acquired these assets in August for a combined $146.1 million. Another two of the properties, the 850-bed The James and the 248-bed Hub U District Seattle, are opening this fall. Those properties are located near the University of Wisconsin and the University of Washington, respectively. The final three properties, which total 1,500 beds, are all under construction and slated for fall 2018 delivery. They include Hub Ann Arbor, Hub West Lafayette and Hub Flagstaff, which offer housing to students attending the University of Michigan, Purdue University …

September 25, 2017

Industrial Midwest Wisconsin

Dickman Co. Arranges Sale of 117,600 SF Industrial Building in Milwaukee

by Kristin Harlow September 19, 2017

MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the sale of a 117,600-square-foot industrial building in Milwuakee. The sales price was not disclosed. The property is located at 8200 N. Faulkner Road. Roger B. Siegel, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction on behalf of the buyer, Faulkner Road LLC, and the seller, Faulkner Road Property LLC.

September 19, 2017

Industrial Midwest Wisconsin

Dickman Co. Brokers Sale of 42,590 SF Industrial Building in Menomonee Falls, Wisconsin

by Kristin Harlow September 15, 2017

MENOMONEE FALLS, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 42,590-square-foot industrial building in Menomonee Falls, about 20 miles northwest of Milwaukee. The price was not disclosed. The property is located on Garwin Mace Drive. Keebler Co. sold the property to AJR Properties South LLC. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the buyer in the transaction.

September 15, 2017

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