NEW LONDON, WIS. — Associated Bank has arranged $10 million in financing for the construction of Beacon Avenue Cottages, an affordable housing project in New London, about 25 miles northeast of Appleton. The property will consist of 40 apartment units in five cottage-style buildings at 580 Freemont St. The property will include a mix of two- and three-bedroom units, each with its own entrance and garage. Amenities will include a clubhouse, fitness center and laundry room. Completion is slated for spring 2018. Commonwealth Development Corp. is developing the project. Associated Bank provided a $4.7 million construction loan. In addition to the loan, $4.9 million was obtained in low-income housing tax credit equity and $510,000 was funded through an Affordable Housing Program grant. Bryan Schreiter of Associated Bank originated the loan, while Michael McGovern of Associated Bank managed the equity investment through a National Equity Fund Inc. proprietary fund.
PLEASANT PRAIRIE, WIS. — Zilber Property Group and MMM Real Estate LLC have purchased development sites in Lakeview Corporate Park near Kenosha. The sales prices were not disclosed. Zilber purchased a 22.8-acre site at the corner of 108th Avenue and Green Bay Road. Zach Graham, Ryan Bain and Tom Harmon of CBRE represented the seller, Nitto Americas Inc. MMM purchased a 12.2-acre site on 88th Avenue. Graham, Bain and Harmon represented MMM, while Sam Badger and Whit Heitman of CBRE represented the seller, CenterPoint Properties. Lakeview Corporate Park is a 2,400-acre business park with a mix of retail, office and industrial space.
MILWAUKEE — Brookfield, Wis.-based Hammes Co. has unveiled plans to move its headquarters to downtown Milwaukee in early 2018. Hammes will occupy the top two floors of a five-story office building the company is developing in the Park East corridor. The development is located at North Water and East Knapp streets. The first phase of construction will cost approximately $27 million, according to Milwaukee Business Journal. A second phase would add an additional office building.
PEWAUKEE, WIS. — The Dickman Co. Inc./CORFAC International has arranged the sale of an 8,700-square-foot industrial building in Pewaukee, north of Waukesha. The building is located on Joseph Road. Samuel M. Dickman Jr., Samuel D. Dickman and Nick Keys of the Dickman Co. represented the undisclosed seller. Chris Etmanczyk of Lee & Associates represented the buyer, Joseph Road LLC.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 28,050-square-foot industrial building in Milwaukee. The facility is located at 7528 N. Teutonia Ave. Olympic Supply Co., a distributor of bicycle parts and accessories, purchased the building from Delores Kramer Trust. Nick Keys, Roger Siegel and Zach Hansen of the Dickman Co. brokered the transaction.
MEQUON, WIS. — Altapure has signed a 3,300-square-foot industrial lease in Mequon, about 20 miles northwest of Milwaukee. Altapure will occupy Suite K in the 30,300-square-foot building located at 6040 W. Executive Drive. Based in South Bend, Ind., Altapure manufactures disinfection products. Steve Sewart of Colliers International represented the tenant in the transaction.
GERMANTOWN, WIS. — Like Minds Brewing LLC has signed a 3,800-square-foot industrial lease in Germantown, about 23 miles northwest of Milwaukee. The 50,000-square-foot building is located on Maple Avenue. Jim Young of The Barry Co. represented the landlord, West Florist Avenue LLC. TJ Huenerbein of the Dickman Co. Inc. represented the tenant. Like Minds Brewing operates locations in Chicago and Milwaukee.
KENOSHA, WIS. — Cushman & Wakefield has arranged the sale of an industrial building located at 9949 58th Place in Kenosha. The sales price was not disclosed. The 173,000-square-foot warehouse will serve as the manufacturing facility for Colbert Packaging Corp., a manufacturer of folding cartons, boxes and paperboard specialty products. Constructed in 2015, the property features 18 loading docks, 216 parking spaces, 30-foot clear heights and an ESFR sprinkler system. Colbert will consolidate and relocate manufacturing centers from Lake Forest, Wis. and Libertyville, Ill. The company’s headquarters will remain in Lake Forest. Eric Fischer, Brett Kroner, Keith Puritz and Bradley Migdal represented Colbert in the transaction. Sergio Chapa of Newmark Grubb Knight Frank represented the seller, Zilber Ltd.
MILWAUKEE — Gehl Foods has selected Avison Young to market the sale of its 719,599-square-foot industrial portfolio near Milwaukee. The portfolio consists of four buildings owned and occupied by Gehl Foods, a producer of ready-to-serve dairy products. Gehl Foods has invested more than $100 million in capital improvements and specialized equipment in the buildings. The portfolio will be sold as a 15-year, triple-net leaseback with annual lease rate escalations on the properties. Three of the buildings are located in Germantown, Wis., while one building is located in West Bend. Erik Foster and Mike Wilson of Avison Young will represent the owner.
SHOREWOOD, WIS. — Mid-America Real Estate Corp. has brokered the sale of Metro Market in Shorewood, about five miles north of Milwaukee. The sales price was not disclosed. The 90,320-square-foot store is located at 4075 N. Oakland Ave. Metro Market is a grocery chain owned by Kroger. Wes Koontz, Christian Tremblay, Ben Wineman and Dan Rosenfeld of Mid-America Real Estate represented the undisclosed seller. An institutional buyer purchased the property, which includes a parking garage.