MILWAUKEE — Stan Johnson Co. has brokered the $9.3 million sale of a 67,866-square-foot retail building in Milwaukee. Lark Creek purchased the property, which is fully occupied by grocer Pick ‘n Save. Outlook Development sold the property located at 2355 N. 35th St. Camille Renshaw and Scott Scurich of Stan Johnson Co. represented the seller in the transaction.
MILWAUKEE — Boston Capital has invested in the construction of a 90-unit apartment community in Milwaukee. Cardinal Capital Management is the general partner in the development. The Germania will feature 44 tax credit units and 46 market rate units. Tenants of the tax credit units must earn 60 percent or less of the area’s median income. The apartments will be located in an eight-story, vacant building that was constructed in 1896 and is listed on the National Register of Historic Places. The project will also include 8,500 square feet of ground-floor commercial space. The Germania will provide 38 one-bedroom units and 52 two-bedroom units ranging from 446 square feet to 1,210 square feet. Unit amenities will include washers and dryers, central air conditioning and dishwashers. Community amenities will include a leasing office, community room with kitchen, fitness center and storage lockers. The Germania will be built with tax credit equity from the Low Income Housing Tax Credit program, as well as federal and state historic tax credit programs.
OAK CREEK, WIS. — HALL Structured Finance has provided a $10.9 million first lien loan for the construction of a four-story, 112-room hotel in Oak Creek, 13 miles south of Milwaukee. Albuquerque, N.M.-based Gustin Property Group LLC is the developer of the TownePlace Suites by Marriott. The hotel will be located within the Drexel Town Square master-planned development, which includes a new city hall, public library, retail stores, restaurants, office space, apartments and 18 acres of green space. The total estimated project cost for the hotel is $14.6 million, and the development will take approximately a year to complete.
WAUKESHA, WIS. — Siegel-Gallagher has brokered the sale of a 2,382-square-foot mixed-use property for an undisclosed price. Sania Investments LLC purchased the property from Sunset Bank & Savings. The building, located at 1710 Paramount Drive in Waukesha, approximately 20 miles west of Milwaukee, includes office and retail space. Shaun Dempsey and Devin Tessmer of Siegel-Gallagher brokered the transaction.
CUDAHY, WIS. — The Dickman Company Inc./CORFAC International has arranged a 45,958-square-foot industrial lease in Cudahy, seven miles south of Milwaukee. Action Industries Ltd. will occupy the space located at 2200 E. College Ave. Nick Keys of The Dickman Company represented the tenant in the transaction. Pat Hake of Colliers International represented the landlord, CrossLake Partners.
WISCONSIN DELLS, WIS. — Marcus & Millichap has arranged the sale of Amber’s Resort & Conference Center Wisconsin Dells, a 228-room resort hotel in the Wisconsin Dells, approximately 120 miles northwest of Milwaukee. An undisclosed limited liability company purchased the property for $4.6 million. The seller also was an unnamed limited liability company. Jon Ruzicka, Gordon Allred and Chris Gomes of Marcus & Millichap represented the seller. Jon Ruzicka, also with Marcus & Millichap, represented the buyer. Todd Lindblom assisted in the transaction.
PEWAUKEE, WIS. — The Dickman Company Inc./CORFAC International has arranged a 20,242-square-foot office and industrial lease in Pewaukee, approximately 20 miles west of Milwaukee. TF Final Mile LLC will occupy Suite 200 in the building, which is located at W233 N2800 Roundy Circle W. Byrne Family Limited Partnership & 3RP LLC is the landlord. Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company represented the landlord in the transaction. Bill Langhoff of Colliers International represented the tenant.
DEFOREST, WIS. — Ryan Companies US Inc. has broken ground on a 132,730-square-foot processing facility for The Little Potato Company in DeForest, approximately 17 miles north of Madison. The building, to be situated on a 15.9-acre site, will be the company’s first facility in the United States. When completed, the building will include 11,730 square feet of office space and 121,000 square feet of cooler, dry warehouse and processing space. The facility will feature 30-foot clear heights in the warehouse area, nine dock doors, two overhead drive-in doors and 130 stalls for employee parking. The project, located inside the DeForest Business Park, is scheduled for completion in 2017. Alberta, Canada-based The Little Potato Company specializes in the processing of creamer potatoes.
BROOKFIELD, WIS. — The Dickman Company Inc./CORFAC International has brokered the sale of a 25,520-square-foot industrial building in Brookfield, 13 miles west of Milwaukee. Theomax Real Estate LLC purchased the building from LPM Group LLC for an undisclosed price. The facility is located at 3280 Gateway Road. Samuel M. Dickman Jr., Samuel D. Dickman and Roger Siegel of The Dickman Company brokered the transaction.
NEW BERLIN, WIS. — The Dickman Company Inc./CORFAC International has arranged the sale of a 44,262-square-foot industrial building in New Berlin, approximately 15 miles southwest of Milwaukee. AQ Matic Real Estate purchased the facility, which is located at 16605-16685 W. Victor Road, from K.G. Stevens Holdings LLC for an undisclosed price. Anthony Huenerbein of The Dickman Company represented the seller in the transaction. Stephen Provancher and Mitchell Starczynski of NAI MLG Commercial represented the buyer.