MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the lease of 12,040 square feet of industrial and office space for Naturescape Inc. in Milwaukee. The lawn and landscape care company will occupy the building at 5757 N. Lovers Lane Road. Samuel M. Dickman Jr., Samuel D. Dickman and Cale Berg of the Dickman Co. represented the landlord, Marva’s Realty LLC. Lori Hake of Judson & Associates represented the tenant.
FOND DU LAC, WISC. — Marcus & Millichap has arranged the sale of a 611,564-square-foot distribution center in Fond du Lac, about 40 miles west of Sheboygan, for $16 million. Built in 1977, the facility sits on 23.8 acres. Jeff Rowlett and Joe Powers of Marcus & Millichap represented the seller, a Madison-based private investor group, and the buyer, a group of private investors.
MILWAUKEE — Marcus Theatres, a division of The Marcus Corp. (NYSE: MCS) has acquired the assets of St. Louis-based Wehrenberg Theatres in four Midwestern states. Terms of the transaction were not disclosed. Wehrenberg Theatres is the oldest family-owned and operated theater circuit in the United States with 197 screens at 14 locations in Missouri, Iowa, Illinois and Minnesota. Upon completion of the transaction, Marcus Theatres will increase its number of screens by 29 percent, operating 885 screens at 68 locations in eight states. In conjunction with the acquisition, Marcus Theatres will also acquire the underlying real estate for six of the theater locations, as well as Ronnie’s Plaza, an 84,000-square-foot retail center located at 5320 S. Lindbergh Blvd. in St. Louis. Peter J. Solomon Co. assisted Marcus Theatres in the transaction. The Fortune Group served as advisor for Wehrenberg Theatres.
BROOKFIELD, WIS. — A partnership between HSA Commercial Real Estate and Innovative Capital Advisors has acquired the 217,346-square-foot Brookfield Fashion Center in Brookfield, a western suburb of Milwaukee. The sales price was not disclosed. Stein Mart, Jo-Ann Fabrics, Pier 1 Imports and Ulta Beauty anchor the regional shopping center located on Bluemound Road near Brookfield Square Mall. The center is currently 97 percent leased.
APPLETON, WIS. — HREC Investment Advisors has arranged the sale of an 80-guestroom GrandStay Hotel & Suites, a regional hotel chain, in Appleton. The sales price was not disclosed. The hotel is located at 300 N. Mall Drive near the Fox River Mall and Outagamie Regional Airport. Features include an indoor pool, lobby bar and exercise room. Regal Hospitality Inc. was the buyer. Scott Kaniewski of HREC Chicago exclusively represented the seller, Pearlshire Capital.
MILWAUKEE — Avison Young has arranged the sale of a 249,753-square-foot industrial facility located at 2300 S. 51st St. in Milwaukee. The sales price was not disclosed. Oilgear, a producer of hydraulic pumps, valves and related equipment, sold the facility to relocate production to existing facilities in Fremont, Neb. and Traverse City, Mich. Tom Curtis and Mike McKiernan of Avison Young represented Oilgear in the transaction. Global Power Components was the buyer.
INDIANA, MICHIGAN AND WISCONSIN — Four Corners Property Trust (NYSE: FCPT) has acquired 16 properties net leased to KFC in Indiana, Michigan and Wisconsin for $21.1 million. The restaurants are occupied under new triple-net leases with 20-year terms. Seven of the properties are under a master lease and nine properties are under individual leases. FCPT funded the acquisition with proceeds from its revolving line of credit and from a 1031 exchange sale of a property in Florida occupied by Bahama Breeze.
GREENFIELD, WIS. — Cobalt Partners LLC, a commercial real estate development firm based in Milwaukee, has begun construction on 84South, a 48-acre, $160 million mixed-use development in Greenfield, approximately 10 miles southwest of Milwaukee. Designed by Milwaukee-based Rinka Chung Architecture, 84South will feature 375,000 square feet of retail and restaurant space, a full-service health club, office space and 360 apartment residences. The development is situated along I-894 at the interchange of 84th Street and Forest Home Avenue, less than a mile from Southridge Mall, the largest enclosed regional mall in the state. Cobalt Partners has selected Mid-America Real Estate-Wisconsin as leasing agents for 84South, and the firm has already signed a slate of retailers to open in Phase I, which is scheduled for a summer 2017 completion. “84South is going to expand the Southridge regional trade area and provide retailers an opportunity to locate stores within a submarket that has proven challenging to land within,” says Scott Satula, vice president of Mid-America. “We’re excited to be a part of the 84South development team and are pleased to bring quality shopping and dining options to Greenfield and the neighboring communities.” The retailers opening in Phase I of 84South include Fresh Thyme …
WAUSAU, WIS. — Dougherty Mortgage LLC has closed an $8.5 million Fannie Mae loan for the refinancing of the Wausau Portfolio, which consists of five market-rate multifamily apartment properties located in Wausau in central Wisconsin. The properties include Apple Apartments, Black Berry Circle Duplexes, Cedar Creek Apartments, Eva Estates Luxury Apartments and Eva III Luxury Apartments. The 10-year, Fannie Mae loan includes a 30-year amortization. OWS LLC was the borrower.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged a 29,200-square-foot office and industrial lease in Milwaukee. Cablemaster Corp., a power cord manufacturer, will occupy the space located at 1600 W. Cornell St. Cornell Industrial Properties LLC owns the building. Samuel M. Dickman Jr., Samuel D. Dickman and Zach Hansen of Dickman Co. were the brokers involved in the transaction.
