BRISTOL, WIS. — Founders 3 Real Estate Services has brokered the $1.6 million sale of a 29,747-square-foot industrial building in Bristol, a city in Southeast Wisconsin. The property is located at 8320 193rd Ave. Paul McBride of Founders 3 represented the seller, Standex Electronics Magnetics. Newlane Management was the buyer.
HOUSTON — An affiliate of Houston-based Fidelis Realty Partners has acquired an 11-property, 1.5 million-square-foot portfolio consisting of former Sears retail properties located in eight states across the central U.S. The portfolio is 90 percent leased by tenants such as Nordstrom Rack, Ulta Beauty, Total Wine, Dick’s Sporting Goods, Five Below, HomeGoods, The Dump, At Home, Ross Dress for Less, Dollar Tree and Best Buy. The properties are located in Tennessee, Wisconsin, Ohio, Illinois, Indiana, Nebraska, Texas and Arizona. Colby Mueck, Michael King, Christopher Knight and Jack Britton of JLL arranged acquisition financing on behalf of Fidelis through Symetra Life Insurance Co.
GRAFTON, WIS. — NAI Greywolf has arranged the sale of a 36,154-square-foot industrial building in Grafton, a northern suburb of Milwaukee. The sales price was undisclosed. The property, which features both manufacturing and office space, is located at 1000 Hickory St. near Highway 60 and I-43. David Hodge of NAI Greywolf represented the undisclosed seller.
GREEN BAY, WIS. — Marcus & Millichap has arranged the sale of Hoffman and Hibernia Apartments in Green Bay for $2.4 million. The 34-unit apartment building was completely renovated in 2014. David Tarnoff, Patrick Suffield and Yianni Mouflouzelis of Marcus & Millichap represented the seller, a local private investor. The team also secured and represented the buyer, a Wisconsin-based private investor.
ILLINOIS AND WISCONSIN — First Citizens Bank’s Healthcare Finance group has provided $44.2 million in acquisition financing for a three-property medical office portfolio in Illinois and Wisconsin. A partnership between Kayne Anderson Real Estate and Remedy Medical Properties was the borrower. The portfolio totals more than 266,000 square feet. The properties include the ProHealth Medical Group urgent care center in Brookfield, Wis.; the Moreland Medical Center in Waukesha, Wis.; and the Silver Cross Health Center urgent care facility in Mokena, Ill.
BROOKFIELD, WIS. — Colliers has brokered the sale of the Shoppes at Brookfield Commons in the Milwaukee suburb of Brookfield for $9.2 million. The 42,356-square-foot shopping center is located at the intersection of West Bluemound and North Moorland roads. The property is 40 percent vacant. Some of the tenants include Chipotle, H&R Block and LasikPlus. Adam Connor led a Colliers team that represented the seller and procured the buyer, a private Illinois-based real estate company. The transaction marked the first acquisition in Wisconsin for the buyer.
SUN PRAIRIE, WIS. — Heyday has launched pre-leasing efforts for Heyday Sun Prairie, a 170-unit build-to-rent community in the Madison suburb of Sun Prairie. Completion is slated for later this spring or early summer. The 41-acre, pet-friendly community features activated open spaces and walking paths. Each of the single-family attached rental homes features ample storage, private patios, high-speed electric vehicle charging outlets in garages, multipurpose rooms and built-in desks. Daniel Management Group will serve as the property manager. Heyday has additional projects planned in Wisconsin, such as a 130-unit built-to-rent community in Oak Creek that is slated to open in late 2024.
OCONOMOWOC, WIS. — The Milwaukee office of Kraus-Anderson will build a new VA healthcare clinic at Olympia Fields in Oconomowoc. Designed by Plunkett Raysich Architects, the 9,000-square-foot clinic will be leased by the U.S. Department of Veterans Affairs. The facility will feature reception and waiting areas, exam rooms, women’s health exam areas, mental health services, consultation rooms, telehealth services and a conference room. Wangard Partners, a Milwaukee-based real estate investment firm, is the developer and manager. Wangard is the developer behind Olympia Fields, a mixed-use project that includes The Locklyn apartment community and a Sendiks Food Market. The site will also feature a hotel, medical offices, commercial space and a recreational bike trail. Construction on the VA clinic is expected to begin in May and be completed in December.
NEW YORK CITY — New York City-based International Workplace Group (IWG) has added 34 new flexible workspaces in the Midwest region in the last six months. Including these new locations, IWG has added roughly 150 locations nationwide across the U.S. since October 2022. IWG intends to add 1,000 new locations globally. IWG’s new locations stretch across brands such as Spaces, Regus and HQ, and are situated in both urban and suburban areas across markets such as Chicago; Columbus, Ohio; Jeffersonville, Ind.; Grand Rapids, Mich.; Lakeville, Minn.; and De Pere, Wis. The Midwest offices total more than 280,000 square feet. About 76 percent of the new workspaces are located in smaller towns and communities outside of metro areas. IWG is opening the vast majority of its new locations in partnership with commercial real estate owners, developers and franchisee investors.
OSCEOLA, WIS. — Marcus & Millichap has negotiated the $1.1 million sale of a 9,026-square-foot retail property occupied by Dollar General in Osceola, about 47 miles northeast of Minneapolis. The net-leased building is located at 928 240th St. Mitch Grant and Nicholas Kanich of Marcus & Millichap represented the seller, a Milwaukee-based limited liability company. The property sold to a 1031 exchange, all-cash buyer. Todd Lindblom assisted in closing the transaction as the Wisconsin broker of record.