Chicago-based The Endeavor Companies LLC purchased Executive Center IV, a three-story, 85,612-square-foot office building at 235 N. Executive Dr., Brookfield, from Brookfield-based VK Development LLC for $5.8 million.
The sale was brokered by Tom Shepherd of Inland Companies. The building’s occupancy rate is about 91 percent, Shepherd said. Tenants in the building include the Wisconsin Institute of Certified Public Accounts; Winter, Kloman, Moter & Repp S.C.; GAB Robbins NA Inc.; Voit & Hamilton LLC, Wachovia Dealer Services and M&I Support Services Co.
The Endeavor Companies will retain Inland Companies for the leasing and management of the building.
The Endeavor Companies specializes in acquiring, financing and investing in a wide range of real estate assets.
“We’re very pleased to add this asset to our portfolio,” said Tom Bretz, managing director of real estate for Endeavor Companies. “Our objective is to acquire value-add properties priced between $5 million and $30 million in the Chicago, Milwaukee and Madison areas. Executive Center IV fits in perfectly with this goal.”

Spanish train company Talgo Inc. will lease 133,000 square feet of space from the city of Milwaukee in a building at the corner of North 27th Street and Townsend Street in the former Tower Automotive complex.
The company will lease the space for $2.59 per square foot, or $344,470 a year, said Richard “Rocky” Marcoux, commissioner of the Department of City Development. The city is not providing any incentives to Talgo to locate at the Tower site, Marcoux said.
“This is a straight up business deal,” he said.
The city purchased 84 acres of the former 140-acre Tower site last year for $4.5 million. The property is bounded roughly by West Capitol Drive, the Soo Line railroad tracks, West Townsend Street and North 27th Street. The city plans to spend about $30 million to redevelop the property and attract new businesses to a development that city officials call Century City.
Most of the buildings on the former Tower site will be torn down, Marcoux said. But the building that Talgo will occupy was one of the last buildings that was used for manufacturing operations and is in better condition than the rest of the vacant plant, he said.
Talgo will create 125 jobs at the plant to assemble and maintain high speed trains at the former Tower Automotive facility in Milwaukee, chief executive officer Antonio Perez announced this week.
As someone who represents an area and a population that is in dire need of jobs, this is truly exciting and wonderful news,” said Ald. Willie Wade. Part of the former Tower Automotive site is in Wade’s aldermanic district.
Perez said the supply chain for the Milwaukee plant will create an additional 450 jobs to support the operation. Some of those jobs will be created in Wisconsin, he said.
The company may eventually hire even more workers at the Milwaukee plant if more states purchase high speed trains from Talgo. Wisconsin is buying four train sets and Oregon is buying two trains sets from the company. Those trains will be built at the Milwaukee plant.
Perez said Talgo made a promise that the first U.S. state to purchase a high speed train from the company would be the site of an assembly plant for the company’s high speed trains in the U.S. market. Last year, Gov. Jim Doyle’s administration moved to purchase two trains to take advantage of that opportunity.
The Milwaukee facility will assemble Talgo high speed trains for the entire United States, Talgo spokeswoman Nora Friend said. The company hopes to sell trains to other states through President Barack Obama’s $8 billion high speed rail initiative, which includes $810 million to create high speed rail service from Milwaukee to Madison and $12 million to improve the Milwaukee to Chicago rail corridor.
It would be too expensive to build a plant in each state that purchases trains, Friend said. So the company hopes other states do not make that a condition of a train purchase, she said.
The Midwest high speed rail network, if fully developed, would need 65 train sets, which demonstrates the market potential for Talgo’s Milwaukee plant, Doyle said.
“This is going to be a place where a significant number of those trains will be built,” he said. “We are poised to be the nation’s leader in high speed rail manufacturing. Wisconsin will see real economic benefits of high speed rail for generations to come. High speed rail is the future of transportation, and it is a really great thing for the state of Wisconsin to be leading the way.”
In addition to the Tower Automotive site, Talgo considered two sites in Janesville, a site in Racine, a site in Appleton and the Super Steel plant in Milwaukee to assemble its high speed trains.
Perez said the company evaluated all of the sites based on: their economic conditions, technical and operational conditions, cost of living, training facilities in the vacinity availability of skilled workforce and logistical traits including rail access. The company needed a large amount of space with overhead cranes and room for expansion. The company preferred a site near a port, a major airport and near train centers, he said.

Dallas-based Dave & Busters, a national chain of restaurant and entertainment centers, this week opened its first Wisconsin location at 2201 N. Mayfair Road in Wauwatosa.
The 35,000-square-foot Dave & Busters building was built on a site formerly occupied by a Ewald Chrysler/Dodge/Jeep dealership.
The Wauwatosa Dave & Busters location has nearly 200 games ( including classic skill and arcade games plus simulators and billiards), 24 flat screen televisions and a high definition projector screen, a full bar, restaurant and two private conference rooms.
“Dave & Buster’s is a totally new concept in the greater Milwaukee area where guests can eat, drink and play under one roof,” said Wauwatosa restaurant general manger Esther Gomez.
On average, Dave & Buster’s stores get half a million guests each year. Most visitors are adults 21 years of age and older.
“People in Wisconsin love to go out and have fun,” said Wauwatosa Chamber of Commerce Executive Director Meg McKenna. “We have been asking for a place like this for a long time. Dave & Buster’s will be a great addition to the community.”

Sendik’s Food Markets announced that it plans to open a store in New Berlin on Nov. 1.
Sendik’s will remodel and occupy a 44,000-square-feet store space at the New Berlin Plaza at 3600 South Moorland Road. The store is part of the shopping center that was previously occupied by Lang and Kohl’s Food Store.  The mall will be renamed Sendik’s New Berlin Plaza. 
Sendik’s Food Markets is owned by brothers Nick, Patrick and Ted Balistreri, and sister, Margaret Harris. Their other stores are in Whitefish Bay, Wauwatosa, Mequon, Grafton, Elm Grove, Franklin, Germantown and Greenfield. The other Sendik’s stores in the Milwaukee area have different owners.
The New Berlin store will have 70 full time employees and 80 part time employees.
“We are delighted to welcome this upscale retailer to our fine community,” said New Berlin Mayor Jack F. Chiovatero. “I am pleased that Sendik’s has recognized the potential and opportunity that New Berlin has to offer our business community. This establishment will be a wonderful addition to our City Center – adding both an upscale grocery experience for our residents, as well as local job opportunities.  We welcome Sendik’s with enthusiasm and open arms. We couldn’t be happier.”
New Berlin Enterprises LLC, an investment group led by Devo Properties, purchased the 82,000-square-foot New Berlin Plaza shopping center last week. Current tenants in the shopping center include Goodwill Industries and Shorewest Realtors. 
New Berlin Enterprises also purchased three outlots currently leased to Taco Bell, Burger King and PNC Financial, and three residential properties along West Coffee Road. These properties are adjacent to the existing shopping center. 
The homes on those residential properties will be demolished to make room for a 17,000-square-foot expansion of the shopping center on its north end. Upon completion, Goodwill Industries will move into the new expansion space and Sendik’s will take over the current Goodwill space.  Goodwill is expected to move into the new space on September 1, 2010. 
“The expansion and renovation of the New Berlin Plaza is an ideal opportunity for Goodwill, especially with a high-quality grocer like Sendik’s anchoring the development.  Not only will we gain approximately 2,000-square-feet of store space, but also an improved entrance and drive-through drop-off, which will make shopping and donating more convenient for our community,” said Goodwill vice president of retail services, Vicki Holschuh.

Milwaukee Brewers star Ryan Braun and other investors plan to open a restaurant, called Ryan Braun’s Waterfront Grill, in the Historic Third Ward, according to a report by Adam McCalvy of MLB.com.
Braun’s restaurant will soon take over the space currently occupied by Fratello’s Waterfront Restaurant, 102 N. Water St. The restaurant has a large outdoor patio, with seating for 275, along the Milwaukee River. The Braun menu will feature fresh seafood in addition to steaks and chops, chicken, pastas, individual pizzas, sandwiches and hamburgers.
Madison-based lawyer Patrick Sweeney, an investor working with Braun, said they finalized a lease on Monday, and the aggressive plan is to open to the public by Monday, April 5.
Braun also is working on plans to open a restaurant, called Ryan Braun’s Tavern and Grill, in Lake Geneva, which will be located in the former Cactus Club restaurant space at 430 Broad St.
Braun has been personally involved in both projects. Assuming the deal goes through, he plans to spend some time at the restaurant this summer.
"I think I'll be there all the time," Braun said. "I'm really excited about it. I think we'll get some good buzz at the beginning, but then it becomes about great service and quality food. That has to be what it is all about, and that's why I associated myself with people with experience who know what they're doing."
Braun also is involved in other off-field business ventures, including a clothing company, Remetee, and a line of baseball bats from Sam Bat.

Herzing University Brookfield this week opened a new 15,000-square-foot campus at 555 S. Executive Drive., west of Brookfield Square Mall in the Executive Drive Office Park.
Herzing University Brookfield is the third institution to open a location in the Executive Drive Office Park, joining Ottawa University and Cardinal Stritch University.
Six months earlier, Herzing University Kenosha opened a 14,000-square-foot campus in a former Aurora Health Care building at 4006 Washington Road. Herzing University Kenosha currently offers associate and bachelor’s degrees in technology, business, health care, design and public safety.
Herzing University Brookfield will be the 11th ground campus in the United States for the Herzing Educational System, which consists of Herzing University in the United States and Herzing College Canada. The Herzing Educaitonal System was founded in Milwaukee in 1965.

The Milwaukee Community Sailing Center has completed its $1.7 million facility at 1450 N. Lincoln Memorial Drive, and staff began to move in today.
The project was privately funded with more than 500 people, organizations and companies contributing to develop the new building, which has many environmentally friendly features, including a geothermal system.
The Milwaukee Community Sailing Center (MCSC) is a non-profit agency providing educational and recreational sailing programs to the greater Milwaukee community.

MPS to sell former Jackie Robinson Middle School to developer
The Milwaukee Public Schools (MPS) Board selected a bid from Madison-based Gorman & Company to purchase the former Jackie Robinson Middle School building at 3245 N. 37th St., Milwaukee.
When the 118,000-square-foot, three-story building was built in 1926, it was originally called Peckham Junior High School.
Gorman & Company plans to renovate the building into 64 units of senior and residential housing and 14 senior rent-to-own homes.
MPS closed the school in 2004
The building is primarily surrounded by homes in the small Roosevelt Grove neighborhood of Milwaukee. The school district, in placing the property up for sale, required potential buyers to provide a plan for housing, and to replace the parking lots and paved play areas with green space.
“We specifically stated in our request for proposals that this property must have a use that will provide tax base for the city,” said MPS School Board president Michael Bonds.

Inland Companies

• WJ Byrnes leased 3,248 square feet of office space in Pinnacle I at 13890 Bishops Dr., Brookfield.

Mid-America Real Estate

• ATI Physical Therapy leased 3,954 square feet of space in Washington Square, 2912 S. Business Dr., Sheboygan, from 3036 LLC.

• Aspen Dental leased 3,360 square feet of space in the Shoppers World of Brookfield, located at the southwest corner of 124th Street and Capitol Drive in Brookfield, from JDN Realty Corp.

Siegel-Gallagher

• National Fluid Power Association leased 3,728 square feet of office space in the Forum Building at 3333 N. Mayfair, Wauwatosa, from Universal Realty Group.

Inland Companies

• 3045 LLC purchased a multi-family building at 2518 N. 1st St., Milwaukee, for $75,000.

Irgens Health Care Facilities Group, a division of Wauwatosa-based Irgens Development Partners, recently welcomed back Brian Spoerl as vice president. Spoerl has more than 15 years of real estate experience and specializes in medical office leasing, brokerage and health care facility development. Spoerl began his real estate career with Irgens in 1996.  He spent nearly six years with the firm, focusing mainly on medical office leasing and pre-development efforts. In 2002, Spoerl left Irgens to form his own brokerage company, Brian Spoerl Realty Group LLC. He later sold the company and accepted a position at Marcus & Millichap Investment Services where he was responsible for commercial and medical office investment sales. From there, and prior to returning to Irgens, Spoerl was an assistant vice president and leasing manager at HSA|PrimeCare in Milwaukee and Chicago where he worked directly with hospital and health system management on leasing, acquisitions and health facility development.

Mattress Firm opens in Brookfield
Mattress Firm, a national specialty mattress store chain, opened a store in Brookfield at 19165 Bluemound Road. This is one of 10 stores planned for the state in 2010. The company opened its first store in Pleasant Prairie on February 1. Chuck Dawson, a former senior executive at Sealy, is the franchisee responsible for developing the Milwaukee and Madison-area markets. Mattress Firm currently operates more than 500 stores in 38 markets across 21 states.

BizTimes Milwaukee is seeking nominations for the 2010 IQ (Innovation Quotient) Awards to honor southeastern Wisconsin companies that are generating innovative products, services or processes.
The nominated companies must be based in Wisconsin and have a physical presence in Milwaukee, Waukesha, Ozaukee, Washington, Sheboygan, Racine, Walworth or Kenosha County.
Judges for the IQ awards will choose the most innovative, clever and unique products, services or processes among the companies nominated. Self-nominations are encouraged.
The winners of the IQ Awards will be featured in an upcoming edition of BizTimes Milwaukee and will honored at an awards luncheon on April 29 at the sixth annual BizTech Conference & Expo to be held at the Wisconsin State Fair Park.
Nominate a company today for the 2010 IQ Awards at www.biztimes.com/IQ.
The BizTech Conference & Expo is the largest business-to-business conference in the state. For additional information, visit www.biztimes.com/expo.

March 3, AOMA tour – 11:30 am One at North End, 1551 N. Water St.

WCREW Speed Networking event, Tuesday, March 9, 5:30-7:30 p.m., Maders’s German Restaurant (Party Room—Second Floor), 1041 N. Old World 3rd St., Milwaukee.

March 10: NAIOP Tour of the Aloft Hotel, 4:30-6:30 p.m., Aloft Hotel, 1230 N. Old World Third St., Milwaukee. Register online at www.naiop-wi.org.

March 11: NAIOP Webinar: Risk Management Strategies for Successful Real Estate Development Projects. 11:45 a.m.-1:15 p.m., Wipfli LLP, 10000 Innovation Dr., Wauwatosa. Register online at www.naiop-wi.org.

Milwaukee Awards for Neighborhood Development Innovation (MANDI) reception and awards ceremony, Thursday, March 18, 5 p.m., Pfister Hotel, 424 E. Wisconsin Ave., Milwaukee. For more information, call (414) 273-1815.

IREM Annual Spring Seminar: Leasing and Marketing 2010, 8 a.m. to 3:30 p.m., Tuesday, March 23, 2010. For more information, call (414) 476-4736.

March 23, 11:30 a.m.-1 p.m., Wisconsin Commercial Real Estate Women (WCREW) will host a Real Estate Professionals Networking Event featuring professional coach Paula Davis-Laack.  The event will be held at the Iron Horse Hotel, 500 W Florida St., Milwaukee.

March 25: NAIOP Webinar: ROI Analysis on LEED Building Components, 11:45-1:15, Wipfli LLP, 10000 Innovation Dr., Wauwatosa. Register online at www.naiop-wi.org.

CARW Lunch and Learn, Financing and Lending: Where is the money and how do you get your hands on it?, March 29, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Development in 2010: What’s next, April 26, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Legal and Contract Law: Understand the Fine Print, May 17, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Salesmanship and Networking, June 21, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Sustainable Building, July 26, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Title and Deed, Aug. 23, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, State Issues for Fall Election, Sept. 27, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Multi-Family and Investment Properties, Oct. 25, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Industrial: Leasing, Sales and Negotiating, Nov. 15, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

CARW Lunch and Learn, Construction Cost, Dec. 13, 12-2 p.m., CARW office, 12300 W. Center St., Milwaukee.

• Building Owners and Managers Association

• Certified Commercial Investment Members

• Commercial Association of Realtors Wisconsin

• CoStar Group

• DNR brownfield services

• DNR contaminated property database

• Emporis Buildings

• Institute of Real Estate Management

• International Council of Shopping Centers

• Kenosha County property info

• LoopNet

• Menomonee Valley Partners

• Milwaukee Department of City Development

• Milwaukee property info

• NAIOP

• Reis

• Society of Industrial and Office Realtors

• Waukesha County property info