Wisconsin

CBRE Negotiates $8M Sale of Two Office Buildings in West Allis, Wisconsin

by Kristin Harlow May 9, 2017

WEST ALLIS, WIS. — CBRE has negotiated the sale of Lincoln Center II and III in suburban Milwaukee for $8 million. The two office buildings total 121,388 square feet. Lincoln Center II is located on a three-acre site at 2514 S. 102nd St., while Lincoln Center III is located at 10150 W. National Ave. The buildings were more than 87 percent occupied at the time of sale with tenants including Verizon, Acuity, Cognex and Eye Care Specialists. Eric Rapp and Patrick Gallagher of CBRE represented the seller, Somerset Properties. Sara Investment Real Estate LLC purchased the properties.

May 9, 2017

Industrial Midwest Wisconsin

Marcus & Millichap Brokers $17M Sale of Self-Storage Portfolio in Greater Milwaukee

by Kristin Harlow May 4, 2017

MENOMONEE FALLS AND WAUKESHA, WIS. — Marcus & Millichap has brokered the sale of two self-storage facilities in the greater Milwaukee area for $17 million. The Vault of Menomonee Falls and The Vault of Waukesha are located 15 miles from each other and approximately 20 miles from Milwaukee. The sales price is the highest on record for a self-storage portfolio in the Milwaukee-Waukesha-West Allis metropolitan statistical area, according to a news release. Built in 2016, The Vault of Menomonee Falls opened with a total of 451 units and 39,573 rentable square feet. Phase II construction will be completed over the next 12 months and will expand the property to a total of 80,230 net rentable square feet and 768 units. The Vault of Waukesha was built in 2014. The 582-unit facility expanded to 64,648 rentable square feet in 2015. Sean Delaney and Michael Mele of Marcus & Millichap represented the sellers, private investors, and procured the buyer, the publicly traded parent company of U-Haul.

May 4, 2017

Midwest Office Wisconsin

Opus Completes 60,000 SF Corporate Headquarters for Delta Defense in West Bend, Wisconsin

by Kristin Harlow May 3, 2017

WEST BEND, WIS. — The Opus Group has completed construction of a new 60,000-square-foot corporate headquarters for Delta Defense LLC in West Bend, about 39 miles northwest of Milwaukee. Opus worked closely with Kahler Slater throughout the design process. The two-story building includes a fulfillment area for the concealed carry organization’s printing and shipping services, designated training rooms, a call center, mailroom, recording studio, café, prep kitchen and an employee fitness center with locker rooms. The building also features a unique flex space with a monument staircase that doubles as seating. The 5,000-square-foot space will serve as a site for weekly company meetings and community events. The building is located in the West Bend Corporate Center and visible from U.S. Highway 45. The facility includes parking for 176 cars and docks for shipping from the fulfillment center. Delta Defense began occupying the property in March. Opus Design Build was the design-builder for the project, while Opus AE Group was the architect and structural engineer of record. Kahler Slater was the design architect and interior designer. Opus Development Co. provided development support services.

May 3, 2017

Midwest Multifamily Seniors Housing Wisconsin

Heritage Senior Living to Open 140,000 SF Seniors Housing Community in Kimberly, Wisconsin

by Kristin Harlow May 1, 2017

KIMBERLY, WIS. — Heritage Senior Living will open its 15th senior living community in Wisconsin at 825 Cobblestone Lane in Kimberly, east of Appleton. Aspire Senior Living will consist of 136 units and 140,000 square feet. The property will feature 45 independent living apartments, 48 assisted living apartments and 43 memory care suites. Independent living residents are expected to move in this June, followed by assisted living and memory care residents in July. Community amenities include two private dining rooms, a movie theater, a rehabilitation gym and pool, barber salon, pub, game room, bistro and convenience store. Rents for one-bedroom independent living units start at $1,990 a month, which includes parking, housekeeping and one meal a day.

May 1, 2017

Loans Midwest Multifamily Wisconsin

Walker & Dunlop Provides $5.3M Loan for Refinancing of Multifamily Property in Waukesha, Wisconsin

by Kristin Harlow April 28, 2017

WAUKESHA, WIS. — Walker & Dunlop Inc. has provided a $5.3 million loan for the refinancing of Clearwater Apartments in Waukesha. The 55-unit multifamily property was newly constructed in 2015. The property features one- and two-bedroom units as well as a fitness center and barbecue stations. Jeff Schmidt and Tim Cotter of Walker & Dunlop originated the 15-year loan. The transaction served to refinance a bank construction loan.

April 28, 2017

Industrial Midwest Wisconsin

US Pack Logistics Signs 13,971 SF Industrial Lease in Cudahy, Wisconsin

by Kristin Harlow April 27, 2017

CUDAHY, WIS. — US Pack Logistics LLC has signed a 13,971-square-foot industrial lease in Cudahy, approximately seven miles south of Milwaukee. The building is located at 200 E. College Ave. Pat Hake, Bill Langhoff and Steve Sewart of Colliers International brokered the lease transaction.

April 27, 2017

Midwest Multifamily Wisconsin

Ogden Brokers $2.5M Sale of Multifamily Property in New Berlin, Wisconsin

by Kristin Harlow April 26, 2017

NEW BERLIN, WIS. — Ogden & Co. Inc. has brokered the sale of Parc Vue Apartments in New Berlin, about 15 miles southwest of Milwaukee, for $2.5 million. The 30-unit property consists of two buildings and is located at 12415 W. Greenfield Ave. Dave Tighe and Sue Sardina of Ogden represented the seller, Greenfield-124-Needham LLC. Tighe, along with Mike Seramur, represented the buyer, Parc Vue LLC.

April 26, 2017

Midwest Office Wisconsin

CBRE Negotiates 11,320 SF Office Lease for Law Firm in Milwaukee Suburb

by Kristin Harlow April 24, 2017

WAUKESHA, WIS. — CBRE has negotiated an 11,320-square-foot office lease for Von Briesen & Roper SC in Waukesha, a suburb of Milwaukee. The law firm will occupy space on the fourth floor of Crossroads Corporate Center VIIA, located at 20975 Swenson Drive. Matt Hunter of CBRE represented Von Briesen in the lease transaction. Alyssa Geisler and John Mazza of CBRE represented the landlord, Somerset Properties.

April 24, 2017

Loans Midwest Mixed-Use Wisconsin

Walker & Dunlop Arranges $11.8M Refinancing of Mixed-Use Property in Southeast Wisconsin

by Kristin Harlow April 21, 2017

OCONOMOWOC, WIS. — Walker & Dunlop has arranged an $11.8 million loan for the refinancing of Summit Center Marketplace in Oconomowoc, about 34 miles west of Milwaukee. The 72,858-square-foot property consists of retail, office and medical office space. The property sits on 11 acres and consists of five freestanding buildings built between 2004 and 2006. Aurora Health Care anchors the property. Other tenants include Rosatti’s, The UPS Store and Anytime Fitness. Tim Cotter and Jeff Schmidt of Walker & Dunlop arranged the 10-year loan, which includes a 30-year amortization schedule. Principal Commercial Capital provided the loan.

April 21, 2017

Industrial Midwest Wisconsin

Binswanger Brokers Sale of 132,000 SF Industrial Building in East Troy, Wisconsin

by Kristin Harlow April 21, 2017

EAST TROY, WIS. — Binswanger has brokered the sale of a 132,000-square-foot industrial building in East Troy, approximately 37 miles southwest of Milwaukee. The property is located at 2061 Young St. Wisconsin Oven Corp., a manufacturer of industrial ovens and heating equipment, purchased the building. Constructed in 1970, the facility features 25-foot clear heights, multiple cranes, 4,000 square feet of office space, two drive-in doors and one rail door. Zach Binswanger of Binswanger and Wade Micoley of Micoley.com represented the seller, Plymouth Tube Co.

April 21, 2017

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