WAUKESHA, WIS. — Kirby Built Products has signed a 116,176-square-foot industrial lease in Waukesha. The furniture maker will occupy the space at 901 Northview Road. Waukesha Northview LLC is the landlord of the building. Roger Siegel and TJ Huenerbein of the Dickman Co. Inc. brokered the transaction.
STURTEVANT, WIS. — The Dickman Co. Inc./CORFAC International has brokered the sale of a 14,800-square-foot industrial building in Sturtevant, about 30 miles south of Milwaukee. The building is located at 3012-3014 S. Sylvania Ave. Robert A. Gleason purchased the property from Wayne and Mardell Fuller Trust. Cale Berg, Zach Noble, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.
MELVILLE, N.Y. — A&G Realty Partners will handle the sale of 58 MC Sports leases in seven states across the Midwest following the retailer’s Chapter 11 bankruptcy filing. The locations range in size from 11,000 to 46,000 square feet. The stores are located in Iowa, Illinois, Indiana, Michigan, Missouri, Ohio and Wisconsin. Bids are due no later than the close of business on Friday, April 7. MC Sports filed for Chapter 11 bankruptcy protection on Feb. 14 in the U.S. Bankruptcy Court, Western District of Michigan, Grand Rapids. A joint venture between Tiger Capital Group and Great American Group is currently conducting the going-out-of-business sale.
JANESVILLE, WIS. — Coldwell Banker Commercial McGuire Mears & Associates has arranged the sale of a 10,164-square-foot industrial building in Janesville in southern Wisconsin. The sales price was not disclosed. The former PPG building is located at 461 W. Conde St. PPG Industries Inc. vacated the premises in June 2016 after shutting down its Janesville operations. Milwaukee-based Aerial Work Platforms, which sells, leases and services scissor lifts and booms used in the construction industry, purchased the building. Aerial Work Platforms will be relocating from a 5,000-square-foot location on McCormick Drive in Janesville. Bill Mears of Coldwell Banker represented both the buyer and the seller in the transaction.
Metro Milwaukee’s industrial market continued to be a strong performer in 2016, and this strength should continue for the foreseeable future. We’re now seeing a healthy uptick in new industrial development, and even speculative development in select submarkets. While the demand for industrial space has continued to increase, the new supply has failed to keep pace. Sustained quarterly absorption without a sufficient corresponding increase in new product coming to market continues to keep vacancy rates hovering around 4 percent, near the record lows, according to Xceligent and CoStar. The new industrial construction that is occurring continues to be driven by users expanding, relocating or consolidating their existing facilities and by limited build-to-suit developments undertaking Milwaukee-based firms such as Wangard Partners Inc., Phoenix Investors LLC and Briohn Building Corp. Spec building returns Speculative development is still relatively rare, but developers such as Zilber, HSA Development and Interstate Partners are all venturing into the speculative realm and with favorable results so far. HSA, for example, recently completed a 214,000-square-foot speculative building in Waukesha, and Zilber continues to build and fill buildings in the I-94 South corridor. In late 2016, Zilber unveiled plans for a 163,716-square-foot facility in Franklin and a 72,324-square-foot facility …
MILWAUKEE — Baceline Investments LLC has acquired two retail centers in the North Shore of Milwaukee for $2.8 million. Point Plaza is a 13,840-square-foot shopping center located at 8333 W. Appleton Ave. Baceline purchased the property from R&D Point Plaza LLC for $900,000. Glendale Square is a 17,880-square-foot center located at the corner of N. Green Bay Avenue and W. Green Tree Road. Baceline purchased Glendale Square for $1.9 million from Buckmann LLC. Both sellers are Wisconsin-based companies. Combined, the properties are currently 86 percent occupied. Baceline is based in Denver.
MILWAUKEE — MPI Corporate Holdings Inc. has entered into a 6,500-square-foot office lease in Milwaukee. The investment holding company will occupy space at 1123 N. Water St. Matt Fahey and Ben Anderson of Colliers International brokered the lease transaction. MPI currently maintains an office in Indianapolis.
Ben Franklin, one of our nation’s Founding Fathers, famously said, “Well done is better than well said.” Milwaukee has a long history of ideas that are well said. There is no shortage of opinions and sound ideas on how to attract companies to the city, how to improve the public transportation system and how to get more people to live in the city. But these well-intentioned ideas, more often than not, don’t get implemented. Finally, after a decade of virtually no new development, things are happening. In the August 2015 issue of this magazine, I wrote a column focusing on development in downtown Milwaukee titled “Proposed New Arena for Milwaukee Bucks Could Lead to a Development Run.” Indeed, that’s what is happening. After much debate, the arena is finally under construction. It will span 715,000 square feet and hold 17,500 people. Just as impressive is the ancillary development surrounding the arena, including the Froedtert & the Medical College of Wisconsin Sports Science Center that will serve as the new practice and training facility for the Milwaukee Bucks as well as a health center. The new Arena District will also be home to a “live block” comprised of four to five …
BUTLER, WIS. — The Dickman Co. Inc./CORFAC International has negotiated the sale of a 6,000-square-foot industrial building in Butler, about 15 miles northwest of Milwaukee. The building is located at 5127 N. 125th St. Paul Pestka purchased the building from Richard Sommerfelt. TJ Huenerbein, Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. brokered the transaction.
WEST ALLIS, WIS. — The Dickman Co. Inc./CORFAC International has arranged the sale of a 7,700-square-foot industrial building in West Allis, a suburb of Milwaukee. P & Z Properties purchased the building, located at 11408 W. Lincoln Ave., from Golden Site Management LLP. Samuel M. Dickman Jr. and Samuel D. Dickman of the Dickman Co. represented the seller in the transaction, while Brett Garceau of MLG Commercial represented the buyer.
