Cleveland-based Eaton Corp. plans to move its operations currently located at 4201 N. 27th St., in Milwaukee’s central city, to another location.
The company has not yet decided where it will move the operation, according to spokesman Mark Horner.
However, a source familiar with the company’s plans said Eaton plans to move the Milwaukee operation to the western suburbs.
The Milwaukee facility is used by the industrial control division for Eaton’s electrical sector. Eaton has 145 employees at the facility.
The facility is owned by Eaton and has an assessed value of $2.96 million, according to city records.
In May the company initiated discussions with officials from the state Department of Commerce, Milwaukee County and the Milwaukee Department of City Development about its desire to move the Milwaukee operation to a new location, Horner said. Those discussions are ongoing, he said.
“We are considering a number of options,” Horner said. “Our intent is to find a location that best supports our future needs.”
Horner declined to provide addition information about what locations Eaton is considering, or why the company wants to move the Milwaukee operation.
A relocation by Eaton would be a blow to the city’s efforts to redevelop the 30th Street Industrial Corridor.

CommonWealth REIT, a Newton, Mass.-based real estate investment trust, which owns the 28-story, 373,516-square-foot Milwaukee Center building in downtown Milwaukee, is under contract to purchase the 35-story, 430,800-square-foot 100 East Wisconsin Ave. building, also located in downtown Milwaukee, from Northwestern Mutual Life Insurance Co., according to sources.
Tenants in 100 East Wisconsin, the second tallest building in the city and the state, were recently notified about the deal.
If the sale is completed, CommonWealth REIT will control 804,316 square feet of office space in downtown Milwaukee. Most of that space is occupied. The 100 East Wisconsin building is about 95 percent occupied and the Milwaukee Center building is about 90 percent occupied.
A representative for CommonWealth REIT could not be reached for comment.
A spokeswoman for Northwestern Mutual declined to comment.
"We don't comment on any real estate transaction until it is finalized," said Jean Towell, the Northwestern Mutual spokeswoman.
The 100 East Wisconsin building has an assessed value of $65.5 million, or about $152 per square foot, according to city of Milwaukee records.
In 2008, CommonWealth, then known as HRPT Properties Trust, purchased the Milwaukee Center building at 111 E. Kilbourn Ave. from Transwestern Investment Co. for $53 million, or about $142 per square foot.
A Milwaukee commercial real estate source said the sale of the 100 East Wisconsin building is expected to be higher than the per square foot sale price of the Milwaukee Center building.
The tenants in the 100 East Wisconsin building include: Michael Best & Friedrich, which leases 112,684 square feet of space; Wells Fargo Bank, 44,670 square feet; Marcus Corp., 41,219 square feet; Cleary Gull Holdings Inc., 23,540 square feet and PricewaterhouseCoopers LLP, 22,894 square feet. John Hawks Pub is also located in the building.
It remains to be seen if CommonWealth will decide to increase the rent at 100 East Wisconsin. Rents in the building vary from $7 to $18 per square foot. The REIT might decide it needs to increase the rent to recoup its investment in purchasing the property. However, the weak economy could make a rent increase problematic.
“It’s very hard to raise rents when the economy (stinks),” said Mike Mervis, vice president of Milwaukee-based Zilber Ltd. “I would be very surprised if you saw any rent increases.”
Construction of the 100 East building was completed in 1989. It was developed by a joint venture of Northwestern Mutual and Charlotte, N.C.-based Faison Associates. Northwestern Mutual now owns 100 percent interest in the property.
CommonWealth REIT primarily owns and leases office buildings. According to its web site, as of March 31, CommonWealth owned office and industrial properties worth a total of $6.6 billion with about 67 million square feet of space, located in 35 states and Washington DC.
CommonWealth REIT was previously known as HRPT Properties Trust. The company changed its name and began trading on the New York Stock Exchange under the ticker symbol CWH on July 1.

Rolf’s Patisserie Inc., a Lincolnwood, Ill.-based gourmet European-style bakery plans to purchase a 56,652-square-foot industrial building at 10100 88th Ave., Pleasant Prairie. The company plans to customize the facility to manufacture gourmet, European-style cakes, tortes, pies, pastries and other baked goods.
On Monday, members of the Pleasant Prairie Village Board announced their intention to provide $10 million in tax-exempt bonds to the company to purchase and renovate the facility. The tax-exempt bonds are authorized by a municipality, but the company is responsible for repaying the funds.
Rolf’s Patisserie plans to use the Pleasant Prairie facility to accommodate its growth. The company’s facility in Lincolnwood, near Chicago, is producing at full capacity.
The company plans to have 50 full-time employees in Pleasant Prairie, including 12 jobs that will be transferred there from Illinois.

Waxahachie, Texas-based U.S. Aluminum Inc., a manufacturer and distributor of aluminum rain gutter products, recently leased 47,333 square feet of industrial space at 2350 S. 170th St., New Berlin, from Bedford Realty LLC.
U.S. Aluminum will move its operations from 2718 N. 33rd St., Milwaukee, and 4475 N. 124th St., Brookfield, to the New Berlin building.
Kurt Van Dyke of Cassidy Turley Barry represented U.S. Aluminum and Sam Dickman Jr. and Brian Parrish of The Dickman Company represented Bedford Realty in brokering the lease.

Braeger Chrysler Jeep recently became the largest Wisconsin Chrysler dealer to win an arbitration case contesting the auto manufacturer’s decision to close hundreds of new car dealers as part of a  2009 restructuring plan.
“This decision restores one of the best Chrysler operations in the state of Wisconsin,” said Todd Reardon, president and chief executive officer of Braeger Automotive Group. “Our customers and neighbors have been anxious for us to return to provide them with the same high quality sales and service they enjoyed for over 22 years.”
In addition, the E.J. Salentine Buick dealership recently found out that its franchise is being restored. Salentine has been selling used cars for the last year. It was one of thousands of dealerships that had lost their General Motors franchise while the auto maker restructured last year.
Reardon did not have a date he expected to reopen the Braeger Chrysler Jeep dealership on south 27th Street on Milwaukee’s south side, but said he called his Chrysler representative immediately asking for an entire inventory of factory new cars.
“The criteria set by the government which allowed us to prevail in this case were very specific and rigorous,” said Reardon. “We were the largest Chrysler dealer in Wisconsin with an outstanding reputation, significant market share and strong balance sheet. This award corrects the wrongful termination of one of Wisconsin’s strongest Chrysler Jeep dealers.”
Braeger Chysler Jeep was forced by the auto manufacturer to give up its dealership in 2009. The former facility at 6133 South 27th is now the site of Breager Tri-City Mitsubishi. Reardon said he is contemplating reopening at the old location and moving the Mitsubishi dealership.
“Chrysler Jeep has always been a strong brand on Milwaukee’s south side with a very loyal customer base,” said Reardon. “We’re anxious to return that luster to the brand with strong customer service, competitive pricing and exceptional auto repair service.
Braeger Chyrsler Jeep is one of only a few dozen cases in the country where the dealer has prevailed over the auto manufacturer. Since Chrysler’s reorganization, 418 arbitration cases have been filed, of which 125 were dismissed. In 73 decisions Chrysler prevailed, and to date less than 60 former Chrysler dealers have won.
“We knew our case was strong,” said Reardon. “Our reputation, sales strength and business operations were top of the line. I’m now looking forwarding to turning the Braeger Chrysler Jeep sign on again. It’s just like two best friends reuniting.”

Harbor House Restaurant, located in the former Pieces of Eight space at 550 N. Harbor Dr. on Milwaukee lakefront, opened the public last week.
The new restaurant is located between the Milwaukee Art Museum and Discovery World. Entrepreneur and philanthropist Michael Cudahy and restaurateur Joe Bartolotta have partnered on the project.
“You couldn’t find a better location,” Cudahy said. “Milwaukee is a great city and we deserve a great restaurant on the lake that people will be proud to frequent.”
The restaurant menu will feature many options but have an emphasis on seafood and steaks, Bartolotta said.
“We have lots of options for diners,” Bartolotta said. “We will have a raw bar and everything from small plates and appetizers to full course meals. A variety of sandwiches will also be on the menu and you can also come in and get a burger, which I think is important.”
The restaurant is completely renovated and features a New England style, Nantucket inspired design, Bartolotta said. It features indoor dining, a private event room, and an outdoor patio space. The restaurant will be able to seat about 260 people.
“It was really a matter of fixing and reinventing the former Pieces of Eight space,” Cudahy said. “We raised the ceilings, and leveled the floors and decided early on that if we were going to do it, we were going to do it right.”
Cudahy’s lease with the Milwaukee Harbor Commission expires in 2018, Cudahy said. The future of the property beyond that is uncertain.
“We’re hoping that it becomes very popular,” Cudahy said. “So popular that people in Milwaukee will demand its presence regardless of political differences. Right now we’re scrambling to make this the best place to eat on the lakefront before 2018, if the lease gets extended beyond that, then happy day.”
The restaurant will open to the public for dinner and happy hour starting at 4 p.m. for the next few weeks, said Cynthia Johnson, Harbor House spokesperson.
Limited reservations will be accepted to allow for walk-in dining as well.
Bartolotta gift certificates will not be accepted at Harbor House because of the unique partnership with Cudahy, but the restaurant will honor Bartolotta’s reward certificates and preferred points.
To watch a video interview with Bartolotta and Cudahy click here.

Process Displays headquarters sold for $1.7 million
Neu Tool & Supply Corp. recently purchased the 56,884-square-foot industrial building at 16333 W. Rogers Dr., New Berlin, from James Coffey for $1.7 million.
Neu Tool & Supply, full line warehouse distributor, will move its operations to the building from its current 23,000-square-foot space at 2242 S. 116th St., West Allis.
The New Berlin building is currently the headquarters for Process Displays Inc., a provider of custom retail marketing and merchandising products. Process Displays is building a new, 136,000-square-foot headquarters building at 5800 S. Moorland Road in New Berlin.
The sale of the current Process Displays building was brokered by Sam Dickman Jr. and Sam Dickman Sr. of The Dickman Company, who represented Coffey, and Kevin Barry of Cassidy Turley Barry, who represented Neu Tool & Supply.
Cassidy Turley is now marketing the Neu Tool & Supply building for sale, Barry said.

Cassidy Turley Barry

• Everest College leased 45,000 square feet of space in the former Journal Sentinel garage at the northwest corner of West McKinley Boulevard and North 6th Street in downtown Milwaukee from Dan Druml.

• The Art Institute of Wisconsin leased 37,364 square feet of space in the P.H. Dye House building at 320 E. Buffalo St., Milwaukee, from Gardner Group LLC.

• Geo-Synthetics LLC leased 35,000 square feet of industrial space at 6600 Washington Ave., West Allis, from 6600 Washington LLC.

• Maddison Automotive Inc. leased 11,651 square feet of space at 210 W. Wales Road, Wales, from Kim’s Real Estate LLC.

• Kaman Industrial Technologies leased 8,933 square feet of industrial space at 16885 W. Victor Road, New Berlin, from James Luterbach.

• Urich Master Locksmiths Inc. leased 4,000 square feet of industrial space at 16540 Rogers Dr., New Berlin, from Michels Corp.

Inland Companies

• Peabody Interiors leased 6,320 square feet of warehouse space in the Brown Deer Business Park at 9000 Deerbrook Trail, Brown Deer.

• Honey Creek Wealth Management LLC leased 1,442 square feet of office space in Mayfair Crossing at 1233 N. Mayfair Road, Wauwatosa.

Ogden & Company

• The Art Institute of Wisconsin leased 37,364 square feet of space in the P.H. Dye House building at 320 E. Buffalo St., Milwaukee, from Gardner Group LLC.

RFP Commercial

• Paycheck North America renewed its lease of 25,491 square feet of office space at 375 Bishops Way, Brookfield, from Westminster Brookfield.

• CESA #1 leased 13,652 square feet of office space at N25 W23131 Paul Road, Pewaukee, from Paul Road Properties LLC.

• Murphy & Prachthauser leased 5,860 square feet of office space at 330 E. Kilbourn Ave., Milwaukee, from Tishman Speyer.

• Madison Medical Affiliates leased 5,798 square feet of medical office space at 2350 N. Lake Dr., Milwaukee, from Seavest Inc.

• Aflac leased 2,629 square feet of office space at 175 N. Patrick, Brookfield, from Westminster Brookfield.

• Zaman Sheikh leased 2,400 square feet of retail space and Najia Ahmad leased 1,200 square feet of retail space at 867 W. Layton Ave., Milwaukee, from Telegraph Road LLC.

• Kathleen Ortman Miller Attorneys leased 1,600 square feet of office space at 1363 N. Prospect Ave., Milwaukee, from Spectrum Holdings LLC.

• David F. Larson DDS leased 825 square feet of office space at 5600 W. Brown Deer Road, Brown Deer, from Niets Property Management.

Dufek Realty

Dash Medical Gloves Inc. purchased a 72,686-square-foot industrial building at 9635-55 S. Franklin Dr., Franklin, from Hanson Properties for $3.7 million.

Milwaukee-based Inland Construction was recently awarded a 54,000-square-foot roof replacement project for Wells Fargo at 11200 W. Parkland Ave., Milwaukee. Inland Construction was also recently awarded a 12,800-square-foot tenant improvement project for the Veterans Administration at 3935 W. Mitchell St., Milwaukee; a 4,500-square-foot tenant expansion project for Vrakas Blum in Deer Cree at 445 S. Moorland Road, Brookfield; a 1,100-square-foot tenant expansion project for the Planning & Wellness Council in the Pabst Boiler House at 1243 N. 10th St., Milwaukee; and a 1,000-square-foot tenant improvement project for MedEx at Stoneridge III, N14 W23833 Stoneridge Dr., Pewaukee.

Oconomowoc-based MSI General Corp. was selected by Oconomwoc-based Frontier Development Inc. to design and build a 9,500-square-foot multi-tenant building to be built at Highway 67 and Valley Road in Oconomowoc.

Elm Grove-based TWP Architecture recently completed a 7,000-square-foot build-out for Bliss Bridal in Brookfield. The general contractor for the project was KVG Building Corp.

Waukesha-based The Redmond Company recently completed construction of a 6,326-square-foot multi-tenant retail building at W183 N9609 Appleton Ave., Germantown, for PH Germantown Lohman’s LLC, and a 4,972-square-foot branch for Harris Bank at 960 W. Paradise Dr., West Bend.

Waukesha-based Total Team Construction was recently contracted to remodel a home at 125 Wright St., Waukesha, into office space for Carroll University.

Weldall plans 76,000-square-foot addition
Weldall Manufacturing Inc., a Waukesha-based metal fabrication shop, plans to build a 76,000-square-foot addition to its 144,000-square-foot facility at 2001 S. Prairie Ave., Waukesha.
Weldall was the Waukesha County Chamber of Commerce Small Business of the Year award winner in 2008.

O’Reilly Auto Parts to add second Waukesha store
Springfield, Mo.-based O’Reilly Automotive Inc., a Fortune 500 company with 3,420 auto parts stores in the U.S., plans to build a second store in Waukesha.
O’Reilly plans to build a 7,018 store on the north side of West Sunset Drive and west of Chapman Drive, on the south side of Waukesha.
O’Reilly’s other Waukesha store is at 1501 Highway 164.

Mattress Firm opens Waukesha store
Mattress Firm Inc. will hold a ribbon cutting ceremony on Tuesday, July 27, to celebrate the opening of its Waukesha store at 1190 W. Sunset Dr. in the Shoppes at Fox River. Mattress has additional stores in Pleasant Prairie, Brookfield, West Allis, Glendale and Madison. The company plans to open 10 stores in Wisconsin this year.

July 22:  NAIOP Webinar: FDIC Asset Disposition Programs; 11:45 a.m. – 1:15 p.m., Wipfli LLP, 10000 Innovation Dr., Wauwatosa. Go to www.naiop-wi.org for more information.

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

Wisconsin Commercial Real Estate Women (WCREW) golf outing, Tuesday, Aug. 3, Broadlands Golf Club, North Prairie. For more information call (414) 545-8500.

SIOR Golf Outing, Friday, Aug. 6, 11 a.m., Blackwolf Run, Kohler. For more information, call (414) 333-2974.

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.

Riverworks Center Brokers Open, Thursday, Sept. 30, Richards Street Armory, 4108 N. Richards St., Milwaukee. For more information call (414) 906-9650.

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

• Wisconsin Commercial Real Estate Women