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Wednesday, April 15, 2015
Groundbreaking ceremony next week for Oberlin Filter HQ facility
April 15, 2015 10:11 AM
A groundbreaking ceremony will be held on Wednesday, April 22, to celebrate the start of construction of a new headquarters facility for Oberlin Filter Company in Waukesha.

A 92,340-square-foot headquarters facility for Oberlin Filter will be built on a 9.5-acre site at 827 Silvernail Road in Waukesha. The building will be designed and built by Brookfield-based Briohn Building Corp., which sold the property to Oberlin Filter last year for $1.8 million.

The site has room for a future 56,000-square-foot addition, which could be built  on the north end of the building.

Oberlin Filter will  move to the new facility from its current location in a 56,000-square-foot facility that it owns at 404 Pilot Ct., Waukesha.

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Kmart to close Wauwatosa store
April 15, 2015 10:56 AM
Kmart Corp., a subsidiary of Hoffman Estates, Ill.-based Sears Holdings Corp., informed state officials that it will close its store at 3201 N. Mayfair Road in Wauwatosa.

The closure of the store means that 103 employees will lose their jobs. The layoffs will begin on June 14. The store will be permanently closed on June 21.

Kmart and Sears have struggled for years and have closed several of their stores. Last year Kmart stores in Hales Corners and Greenfield and Sears stores in Glendale and Racine closed. Sears closed its Sheboygan store earlier this year.

The Wauwatosa Kmart store is located in a hot retail development area and could turn over quickly. The site is just east of the mixed-use Mayfair Collection development at U.S. Highway 45 and Burleigh Street that includes Nordstrom Rack and Saks Fifth Avenue OFF 5th stores and will later add a Whole Foods store.

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Aurora plans $38 million conversion of Germantown building into clinic
April 15, 2015 10:32 AM
Milwaukee-based Aurora Health Care announced that it plans to spend $38 million to convert its administrative office building at W180 N11070 River Lane in Germantown into a medical office building and outpatient surgery center.

“We are excited to unveil our plans in Germantown, which will bring our high-quality, world-class care closer to home for many patients,” said Carrie Killoran, president of Aurora’s Milwaukee-north market. “Additionally, this re-purposed facility will increase access to specialty care in an outpatient setting, which has proven to be more cost effective.”

The facility will be an Aurora Health Center and will offer a variety of new specialty and diagnostic care services. Spread over three floors, the new offerings will include outpatient surgery, women’s health, orthopedics, cardiology, medical oncology and imaging.

Estimates call for 140 caregivers to treat 350 patients each day at this location, according to Aurora. The site is currently home to approximately 300 non-clinical, Aurora employees who are relocating to other facilities in the region.

Construction for the project will primarily be contained inside the existing structure. External work will include the addition of an awning and minor changes to the parking lot layout.

Construction will begin in August, 2015 and is expected to continue for approximately one year.

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Conveyor company to move from Waukesha to Milwaukee
April 15, 2015 10:34 AM
Hilmot Corp., a manufacturer and installer of conveyor systems, plans to move its operations from Waukesha to Milwaukee. The company, currently located at W227 N764 Westmound Dr. in Waukesha, has 113 full-time employees and 15 part-time employees and plans to add about 30 jobs during the next two years.

H K Ventures LLC this week received approval for a loan from the Milwaukee Economic Development Corp. to help finance the purchase and renovation of a 99,050-square-foot building at 11925 W. Carmen Ave. in Milwaukee that will be occupied by Hilmot.

“Hilmot is moving (to the Milwaukee building) to allow for continued growth in its business,” a MEDC report says.

Representatives for the company could not be reached for comment.

H K Ventures is seeking a $1.2 million MEDC loan to help finance the $2.8 million building purchase cost and the cost of $200,000 in planned building improvements.

The building, constructed in 1969, sits on a 5.5-acre site. The property has an assessed value of $3.2 million, according to city records.

An affiliate of Dallas-based Westmount Realty Capital LLC purchased the building in February as part of a portfolio of 10 industrial buildings in the Milwaukee area that it bought from Oak Brook, Ill.-based CenterPoint Properties Trust. Westmount bought the Carmen Avenue building for $1.4 million, according to state records.

Hilmot will occupy 80,000 square feet of space in the building. Another business currently occupies 19,000 square feet of space in the building and will remain there after the sale to H K Ventures, according to the MEDC report.

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Aurora Health Care to expand HQ at The Tannery
April 15, 2015 10:36 AM
Aurora Health Care will expand its presence at the Tannery Business Center Complex in Milwaukee’s Walker’s Point neighborhood. Aurora recently signed a lease for 11,750-square feet of space in the Trade Center building at 647 W. Virginia St., which is located southeast of its corporate headquarters building in the complex.

“This space (in the Trade Center building) will house additional administrative functions for the organization,” said Mike Brophy, Aurora Health Care spokesman.

Aurora moved its headquarters to the 72,000-square-foot Bottling House building at 750 W. Virginia St. in the Tannery complex in 2010. That building, which was built in 1890, had been vacated by American General Life Cos., a subsidiary of American International Group Inc.

The 49,152-square-foot, three-story Trade Center building was constructed in 1912. The building is also occupied by the Milwaukee office of Lutherna Social Services of Wisconsin and Upper Michigan Inc.

Ned Purtell and Scott Revolinski represented the owners of the Tannery Business Center Complex in negotiating the Trade Center building lease with Aurora.

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Concurrency buys Brookfield office building for new HQ
April 15, 2015 10:40 AM
An affiliate of Brookfield-based computer consulting company Concurrency Inc. purchased a 30,000-square-foot office building at 13600 Bishops Court in the Bishop's Woods office park in Brookfield for $1.25 million, and will move its headquarters there.

The company’s headquarters are currently located in a 10,000-square-foot space that it leases at 3190 Gateway Road in northwest Brookfield. The company has about 100 employees and is growing rapidly, said James Savage, the company’s founder and president.

“We are adding on average seven new positions per month,” he said. “Our rapid growth necessitated the move. This is the culmination of a five-year search for an ideal headquarters. The central location is perfect for serving clients throughout the Milwaukee metropolitan area.”

Concurrency plans to completely renovate the building and will take occupancy in September.

David L. Barry of Milwaukee-based commercial real estate brokerage DTZ Barry, worked on Concurrency’s behalf to purchase the building.

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Metro Milwaukee home sales surge in March
April 15, 2015 10:27 AM
The number of homes sold in the four-county metro Milwaukee area surged in March to 1,522, a 25.6 percent increase from 1,212 homes sold in March of 2014.

Metro area home sales were up 9.2 percent in the first quarter to 3,272, up from 2,996 homes sold in the area during the first quarter of 2014.

“The 2015 market is solid, thus far. However, the performance we saw in March is partly due to the conditions present in March 2014,” said GMAR president Mike Ruzicka. “At that time, distressed sales had left the market and were replaced by a healthy ‘traditional’ (first-time/move-up/empty-nest) market, but we also had low inventory levels – holding back buyer purchases.”

Home prices also rose throughout the metro area during the first quarter. First quarter home sale prices by county:
  • Washington: $210,868, up 9 percent
  • Milwaukee: $139,572, up 7 percent
  • Waukesha: $265,222, up 5 percent
  • Ozaukee: $266,153, up 0.3 percent
“Despite all the positive news in 2015, the market does have its challenges,” Ruzicka said. “Tight credit standards and low inventory are a drag on the market. Nonetheless, there were more positives than negatives in the first quarter, and the rest of 2015 is shaping up to be a very good year for real estate.”

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Ross Dress for Less store planned on Milwaukee’s south side
April 15, 2015 10:43 AM
Dublin, Calif.-based Ross Dress for Less, which claims to be the largest off-price apparel and home fashions chain in the U.S., plans to open a store at Loomis Centre on the south side of Milwaukee.

If approved by city officials, a 25,000-square-foot addition for the store will be built just north of the Home Owners Bargain Outlet store at Loomis Centre, located on the south side of West Morgan Avenue and west of South 27th Street.

The developer for the project is Northbrook, Ill.-based Learsi & Co. Inc. The architect for the project is New Berlin-based Raposa Design.

Other tenants in Loomis Centre include: Discovery Clothing Company, Anna’s Linens, Marshalls, Michaels and OfficeMax.

In March the city’s Plan Commission approved plans for a new 2,500-square-foot Popeye’s restaurant building along West Loomis Road and South 27th Street at Loomis Centre.

Ross Dress for Less has 1,210 locations in the U.S., but no stores in Wisconsin. However, the company also plans to open a store in West Allis.

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Leases
April 15, 2015 10:14 AM

CBRE

JRS Distribution Inc. leased 109,384 square feet of space at 1101 S. Sylvania Avenue, Yorkville, from Sierra Properties LLC.

Black Bear Bottling Group, LLC leased 41,023 square feet of space at 200 West Vogel Avenue, Milwaukee, from First Industrial, L.P.

Morgan & Myers, Inc. leased 13,258 square feet of space at N16 W23233 Stone Ridge Drive, Waukesha, from N16 W23233 Stone Ridge Drive Holdings, LLC.

Ulta Salon, Cosmetics & Fragrance, Inc. leased 12,000 square feet of space at 5500
Washington Ave., Racine, from DDR Corp.

TRP & Associates, LLC leased 9,514 square feet of space at 11675 W. Bradley Road, Milwaukee, from Park Place Technology Center LLC.

Millennium Die Group, LLC leased 8,205 square feet of space at 8355-8359 & 8363 N. Steven Road, Milwaukee, from St. John Properties, Inc.

G-A-I Consultants Inc. leased 5,400 square feet of space at 753 Geneva Parkway North, Lake Geneva, from Geneva Business Centre, LLC.

Emory & Co, LLC leased 3,340 square feet of space at 250 E. Wisconsin Ave., Milwaukee, from LSREF2 OREO (DIRECT), LLC.

Redemption Recycling, LLC leased 3,200 square feet of space at W188 N11774 Maple Road, Germantown, from Ozaukee Development Corp.

Allium IT LLC leased 2,800 square feet of space at 675 N. Barker Road, Brookfield, from Boutelle Investments LLC.

Grunau Company, Inc. leased 2,067 square feet of space at 731 North Jackson Street,
Milwaukee, from Jackson Street Real Estate LLC.

Limitless PCS, Inc. d.b.a Metro PCS leased 1,750 square feet of space at 8600 W. Brown Deer Road, Milwaukee, from RJR ML, LLC.

Limitless PCS, Inc. d.b.a. Metro PCS leased 1,200 square feet of space at 8329 W. Appleton Avenue, Milwaukee, from R & D Point Plaza.

Colliers International|Wisconsin

WOYC Inc. leased 5,358 square feet of industrial space at 200 N. Patrick Boulevard in Brookfield.

Wilshire Classifieds LLC has renewed its 900-square-foot lease of office space at 2240 N. Grandview Blvd., Waukesha.

DTZ Barry

Managed Health Services Inc. renewed its lease of 28,692 square feet of space at 10700 W. Research Dr., Wauwatosa, from Mayfair Woods LLC.

Judson & Associates

Alliance Restoration LLC leased 5,000 square feet of space at 1325 Pearl St., Waukesha, from Lumaru Investments LLC.

Mid-America Real Estate

Cici's Pizza leased 3,648 square feet of space at The Plaza, 17125 W. Bluemound Road, Brookfield.
 
Springleaf Finanacial Services leased 1,500 square feet of space at Glendale Square Shopping Center, 6801 - 6823 N. Green Bay Road, Glendale.
 
Cost Cutters leased 1,200 SF at Silvernail Plaza, 2100 Silvernail Road, Pewaukee.

NAI MLG Commercial

La Causa Inc. leased 15,442 square feet of space at 1126 S. 70th St.,West Allis, from 1126 West Allis Operating Associates, Limited Partnership.

UBIF WFB LLC leased 1,285 square feet at 109 E. Silver Spring Dr., Whitefish Bay, from Mathie WFB Holdings LLC.

Campaign Now LLC leased 1,020 square feet of space at 1126 S. 70th St., West Allis, from 1126 West Allis Operating Associates, Limited Partnership.

RFP Commercial

Lueder Financial Group leased 17,432 square feet, BDO USA LLP leased 8,177 square feet and Erica P. John Fund leased 3,708 square feet at the Plaza East Office Center at 330 E. Kilbourn Ave.

Sunbelt Rentals Inc. leased 24,000 square feet of space at W231 N1125 Redford Ave., Pewaukee.

Aurora Health Care, Inc. leased 11,750 square feet of space in the Trade Center building within the Tannery Business Center Complex at 647 W. Virginia Ave., Milwaukee.

Ron Troy LLC leased 1,120 square feet of space at 330 S. Executive Dr., Brookfield, from Decade Properties.

Siegel-Gallagher

Robertson Ryan & Associates Inc. leased 17,432 square feet of office space in the Plaza East Office Center at 330 E. Kilbourn Ave., Milwaukee, from Tishman Speyer.

Julia Fryk leased 5,466 square feet of retail space at 8482 W. Hampton Ave., Milwaukee.

Zilber Property Group

MetroPCS leased 1,565 square feet of retail space in South Towne Center at 3718 S. 27th St., Milwaukee.

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Sales
April 15, 2015 10:19 AM

CBRE

9400 Lincoln LLC purchased 5,500 square feet of space at 9400 W. Lincoln Ave., West Allis, from Orthopedic Medical Building Company.

Colliers International|Wisconsin

Bradley Way Partners II LLC has purchased Lot 22 of the Germantown Business Park in Germantown for $241,931.

Hans & Renate Deubel Trust purchased the building at 16550 W. Ryerson Road in Brookfield, for $1 million.

NAI MLG Commercial

FlipEleven LLC purchased 4,629 square feet of space at 1818 N. Water St., Milwaukee, from Spire Development Company LLC.

RFP Commercial

Securant Bank sold S31 W24601 Sunset Dr., Waukesha, for $1.1 million.

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Andrew Weiland BizTimes Real Estate Weekly is compiled by BizTimes Milwaukee managing editor Andrew Weiland. This bulletin is published every Wednesday morning. Send real estate news tips to Andrew.Weiland@biztimes.com or call him at (414) 277-8181, ext. 120.

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