JOINT VENTURE ACQUIRES 101,925 SF OFFICE BUILDING

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MADISON, WIS. — A joint venture owned by Alex Brown Realty Inc. (ABR) and Fulcrum Asset Advisors LLC has acquired the U.S. Cellular Building, located at 5117 W. Terrace Drive in Madison. ABR Chesapeake Fund IV, a value-add real estate fund sponsored by ABR, invested $3.1 million in the venture. Built in 1997, the four-story Class A office building spans 101,925 square feet and is located on the southwest corner of the American Center Office Park. The property was 73 percent occupied at the time of sale. U.S. Cellular leases 74,717 square feet and occupies the first, second and third floors. Saint Paul, Minn.-based Advantus Capital Management provided first mortgage financing for the transaction.

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