PLEASANT PRAIRIE, WIS. — Dermody Properties has broken ground on LogistiCenter at Pleasant Prairie, a rail-served logistics park in southeast Wisconsin. WestRock, a sustainable packaging company, has signed a build-to-suit lease to occupy more than 580,000 square feet within the park. The project site was previously home to a power plant and sits adjacent to substations that can deliver power capacity and provide freshwater service from Lake Michigan. LogistiCenter at Pleasant Prairie is expected to include three buildings totaling 2.4 million square feet with the flexibility to accommodate build-to-suits ranging from 250,000 to 1.8 million square feet.
GREENVILLE, WIS. — NAI Pfefferle has negotiated the sale of a 31,225-square-foot office building in Greenville, about 35 miles southwest of Green Bay. The sales price was undisclosed, but the asking price was $1.9 million. Amy Oelhafen of NAI Pfefferle brokered the sale of the property, which is located on Aerotech Drive.
MADISON, WIS. — Apple Hospitality REIT Inc. has acquired the 262-room Embassy Suites by Hilton Madison Downtown hotel for $79.5 million. The seller was undisclosed. The newly built property is located at 231 S. Pinckney St. near Monona Terrace Community and Convention Center as well as the Wisconsin State Capitol. Apple’s portfolio includes 224 hotels with 30,066 guest rooms throughout 37 states and Washington, D.C.
JANESVILLE, WIS. — Colliers has brokered the $3.4 million sale of a 5,500-square-foot retail property in the Milwaukee suburb of Janesville. Home to Starbucks and LensCrafters, the newly constructed building serves as an outlot to Uptown Janesville Mall. Adam Connor and Heather Dorfler of Colliers represented the seller, Houston-based RockStep Capital. The all-cash buyer was based in California and completed a 1031 exchange.
MILWAUKEE — Marcus & Millichap has brokered the $1.4 million sale of a Taco John’s-occupied restaurant property in Milwaukee. The net-leased building, constructed in 2023, is located at 4650 S. 5th St. adjacent to the Milwaukee International Airport. Carson Breshears and Hank Wolfer of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies. Todd Lindblom assisted in closing the transaction as the broker of record in Wisconsin.
PORTAGE, WIS. — Brisky Net Lease has brokered the $3.6 million sale of a Festival Foods-occupied retail property in Portage, a city in central Wisconsin. The single-tenant, net-leased grocery asset is located at 2915 New Pinery Road along US Highway 51. Brian Brisky of Brisky Net Lease represented the seller, a REIT. The buyer was also a REIT. Festival Foods, a family-owned company, operates roughly 40 locations in Wisconsin.
WAUKESHA, WIS. — Mid-America Real Estate Corp. has brokered the sale of Silvernail Plaza, a 116,135-square-foot shopping center in the western Milwaukee suburb of Waukesha. The sales price was undisclosed. Major tenants at the property include grocer Metro Market and Dollar Tree. Outlots Wendy’s, Arby’s and Firestone were included in the sale. Rick Drogosz, Dan Rosenfeld and Scott Satula of Mid-America represented the seller, United Properties. Essential Growth Properties was the buyer.
GREEN BAY, WIS. — Brisky Net Lease has brokered the sale of a 186,588-square-foot industrial property in Green Bay for $11.7 million. The single-tenant building is located at 3181 Commodity Lane. The tenant, Itasca, Ill.-based Advanced Converting Works, provides solutions for the flexible packaging converting industry. There are 15 years remaining on the lease. Brian Brisky of Brisky Net Lease represented the seller, a REIT. The buyer was undisclosed.
BROOKFIELD, WIS. — Mid-America Real Estate has brokered the sale of the Galleria West shopping center in the Milwaukee suburb of Brookfield for an undisclosed price. Located at 18900 W. Bluemound Road, the property totals 65,000 square feet. Tenants include Allen Edmonds, Allure Intimate Apparel, Picardy Shoe Parlour, Bullwinkle’s and Kopp’s Frozen Custard. Dan Rosenfeld of Mid-America represented the buyer, Last Mile Investments, a North American Properties portfolio company based in Cincinnati. Rosenfeld also represented the seller, Galleria West Associates, which has owned and operated the center since the early 1980s. Last Mile Investments plans to begin capital improvements shortly, including a new 20-foot monument sign to enhance visibility for tenants, façade improvements to refresh the exterior and enhanced patio opportunities to accommodate future restaurants and retailers. Andrew Prater of Mid-America will handle leasing.
MADISON AND MILWAUKEE, WIS. — A court-appointed receiver retained Affordable Housing Investment Brokerage (AHIB) to secure new owners for portions of Heartland Housing’s Wisconsin portfolio, which included 166 affordable housing units across five properties in Madison and Milwaukee. Kyle Shoemaker of AHIB represented all buyers in the transaction. Cinnaire Solutions acquired the two Madison properties — Rethke Terrace and Tree Lane Apartments. Rethke Terrace is a 60-unit community developed in 2016, while Tree Lane Apartments is a 45-unit property completed in 2018. The Milwaukee assets sold to three different private investors. St. Anthony Apartments is a 60-unit property built in 2019, Prairie Apartments is a 24-unit community developed in 2008 and Maskani Apartments is a 37-unit asset built in 2014.