Real Estate

Fox Point-based real estate development firm General Capital Group is working on a retail redevelopment plan for the Kmart store property in Hales Corners.
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Developer Gertjan van den Broek recently announced plans to redevelop a downtown Port Washington property between Franklin Avenue and the harbor.
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City of Franklin officials are considering a proposal to provide tax incremental financing funds to Zimmerman Ventures for a proposed a $10.5 million minor league baseball stadium that would be built at The Rock sports complex.
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Boca Raton, Fla.-based Waramaug LS Hotels LLC, a private investment group, recently purchased the 120-room Comfort Suites Park Place hotel located at 10831 W. Park Place on the far northwest side of Milwaukee for $5.876 million, according to state records.
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Home sales in metro Milwaukee for the first quarter of the year were down 10.2 percent compared to the first quarter of 2013, according to the latest report from the Greater Milwaukee Association of Realtors.
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Wussow named partner of Commercial Property Associates
Commercial Property Associates Inc., a Milwaukee-based retail real estate brokerage firm, recently named Mark Wussow as a partner of the firm. Wussow has been a broker with the firm for 10 years.

Mobile home community in Kenosha sold for $7.67 million

Scottsdale, Ariz.-based Kenosha MHC LLC recently purchased the Oakwood Mobile Home Community in Kenosha from Deerfield, Ill.-based Oakwood Investment Partners for $7.67 million, according to state records. Located at 9002 Sheridan Road on the south side of Kenosha, the Oakwood Mobile Home Community has 215 homes on a 27.5-acre site, according to state records.

Downtown Racine apartment property sold for $4 million
An apartment complex that includes a 93-year-old, 5-story building located at 413 Main St. in downtown Racine was sold recently for $4 million. The property was sold by an affiliate of Irving, Texas-based Kimberly-Clark Corp. to Chicago-based Arcade Partners LLC. The property has 75 apartment units and ground floor retail space.

Tires Plus building in Kenosha sold for $1.54 million
Edward R. Unterman of Coto de Caza, Calif. recently purchased the 6,065-square-foot Tires Plus building at 7424 74th Place in Kenosha from Brookfield-based Rose Properties LLC for $1.54 million, according to state records.

Germantown office building sold for $1.4 million
Steven Schellin, the owner and president of Schellin Consulting Services LLC, recently purchased a two-story, 16,430-square-foot office building in Germantown for $1.4 million, according to state records. The building is located at N112 W18741 Mequon Road. Tenants include a PNC Bank branch. The building was sold by WDC/HP SF Office LLC, whose address is the same as the Brookfield office for NAI MLG Commercial. Upon acquiring the building, Schellin transferred ownership to Ben Venue Properties – Germantown LLC, which has the same address as Schellin’s address in Sussex, according to state records.

Brookfield site sold for $1.4 million
Brookfield-based MRCR LLC recently purchased an 85-acre site on West Burleigh Road in Brookfield from Milwaukee-based The Quarry Group for $1.4 million, according to state records.

Heiser Trailer Sales property in West Milwaukee sold for $1 million
The estate of Eldon W. Heiser recenty sold the Heiser Trailer Sales Inc. property in West Milwaukee to a Mayville-based investment group for $1.025 million, according to state records. The 6-acre property is located at 4415 W. Burnham St., just west of Miller Park Way. The buyer is 4415 W. Burnham Street Holdings LLC.

Bank acquires West Bend industrial building in foreclosure action
The Equitable Bank recently acquired a 95,200-square-foot industrial building on a 6.5-acre site at 2230 Stonebridge Circle in West Bend, according to state records. The previous owner of the property was Brookfield-based Stonebridge WB LLC. The value of the transaction was $2.8 million, according to state records. The property was previously occupied by Nationwide Recycling.
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Home sales in metro Milwaukee for the first quarter of the year were down 10.2 percent compared to the first quarter of 2013, according to the latest report from the Greater Milwaukee Association of Realtors.
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Six projects were selected as winners of Local Initiatives Support Corp.’s Milwaukee Awards for Neighborhood Development Innovation Wednesday.
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