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Wednesday, July 9, 2014
Prime site at I-94 and 16 in Pewaukee hits the market
July 9, 2014 10:42 AM
Scott Stollenwerk, the owner of Mobile Medical Specialists and Visiting Angels in Pewaukee, and his wife, Laurie, are marketing a 64-acre site, at a prime location northeast of I-94 and Highway 16 in Pewaukee, for development.

The Stollenwerks have lived on the property since 1999. They own 54 acres and two neighbors, who own a total of 10 acres, also want to join the project. In total the site has 64 acres, of which 43 is buildable. The remaining 21 acres is wetland nature conservancy land.

The site is adjacent to the headquarters plant of Harken Inc., a sailboat hardware and accessories manufacturer. The Stollenwerk property is currently zoned for agricultural use, but the most likely development option is for an industrial park, Scott said. The site could accommodate up to 460,000 square feet of industrial space development, he said.

The Stollenwerks had a one-year exclusive contract with Minneaplis-based Ryan Cos., which wanted to purchase and develop the site. But the project was delayed by the wetland delineation process, Stollenwerk said. That process, handled by Brookfield-based R.S. Smith National Inc., is nearly complete pending approval from the U.S. Army Corps of Engineers. So the Stollenwerks feel they can finally move forward with efforts to attract development to the site.

Ryan Cos. could still develop the site, but if another developer comes forware Ryan Cos. would have to step aside unless it paid a fee, which Stollenwerk declined to disclose.

“We’re trying to bring this project to market,” Stollenwerk said. “We’re trying to get the word out.”

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Irgens moving HQ downtown
July 9, 2014 10:52 AM
Real estate development firm Irgens is moving its headquarters from Wauwatosa to a new office in downtown Milwaukee this week.

The firm will open an office at the ASQ Center, 648 N. Plankinton, in downtown Milwaukee on Friday, July 11. Irgens will have more than 50 employees in the office, which will occupy about 15,000 square feet of space in the building.

Irgens will also continue to have an office in the Milwaukee County Research Park at 10200 Innovation Drive in Wauwatosa.

Eventually Irgens will move its corporate headquarters to the 17-story office tower that the firm is building at 833 E. Michigan St. in downtown Milwaukee. Construction work for that project began recently.

“We are excited to begin our transition to downtown Milwaukee,” said Jaclynn Walsh, executive vice president and chief operating officer for Irgens. “By having an office at the ASQ Center while maintaining our location in the Milwaukee County Research Park, we will be able to efficiently oversee all of our ongoing projects and continue to provide professional management services to all of our tenants.”

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Plans approved for Suzy’s Cream Cheesecakes in Oak Creek
July 9, 2014 10:58 AM
The Oak Creek Plan Commission on Tuesday approved plans for Suzy’s Cream Cheesecakes Inc., a producer of cheesecakes and other desserts, to move from St. Francis to a building in Oak Creek.

Suzy’s will occupy a 44,200-square-foot building at 9911 S. Howell Ave. that was purchased earlier this year by Port Washington-based Ansay Development.

Suzy's currently has 50 employees and the move to Oak Creek will allow it to expand to 90 employees, Oak Creek Mayor Steve Scaffidi said.

The company is currently located at 1775 E. Bolivar Ave. in St. Francis. It was founded in Milwaukee in 1983 and moved to St. Francis in 1992.

In 2011, Suzy’s announced plans to move to Milwaukee’s Menomonee Valley, but later dropped those plans.

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Zilber buys six industrial buildings near airport for $2.55 million
July 9, 2014 11:00 AM
An affiliate of Milwaukee-based Zilber Property Group recently purchased six industrial buildings, with a total of 206,000 square feet of space, near Gen. Mitchell International Airport for $2.55 million, according to state records.

The buildings are located on a 13.5-acre site at 4960-90 S. 2nd St., about half a block west of Howell Avenue, in Milwaukee. They were sold to the Zilber affiliate (TI Investors MKE-Airport LLC) by Oak Brook, Ill.-based CenterPoint Properties Trust.

The buildings will be branded as the ZPG-Airport Industrial Park, said Zilber Property Group vice president Mike Mervis.

“It’s our intention to upgrade the buildings and lease them up,” said Mervis. “We view that as a prime area with lots of potential. That’s a great location.”

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Bon-Ton buys Southridge Boston Store property for $3.9 million
July 9, 2014 11:01 AM
The Bon-Ton Department Stores Inc., which has corporate headquarters offices in Milwaukee and York, Pa., recently purchased the Boston Store property at Southridge Mall in Greendale from Anthony Palermo for $3.925 million, according to state records.

“We just exercised an option to purchase that we had for that store,” said Bon-Ton spokeswoman Mary Kerr. “We felt it would be financially optimal to own this location.”

Bon-Ton completed a substantial remodeling of the Southridge Boston Store in 2012. The project was done at the same time that Indianapolis-based Simon Property Group Inc. did a major remodeling of the entire mall and added Macy’s to the former Younkers store space.

Bon-Ton operates 270 department stores in 25 states under several brand names, including Boston Store.

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Costco store planned in New Berlin
July 9, 2014 11:02 AM
Issaquah, Wash.-based Costco Wholesale Corp. plans to build a 156,000-square-foot store northeast of Moorland and Grange roads in New Berlin.

Costco also plans to build stores in Menomonee Falls and Pleasant Prairie. Costco is the nation’s largest wholesale club retailer and has about 640 stores, including locations in Grafton and Pewaukee.

The New Berlin store is expected to open in August of 2015. Plans for the store will be reviewed tonight by the city’s Architectural Review Committee.

The Pleasant Prairie store is planned for a vacant 17-acre site south of Highway 50 and east of St. Catherine’s Medical Center at 9555 76th St., according to a commercial real estate source.

In Menomonee Falls, Milwaukee-based real estate development firm Cobalt Partners announced recently that a Costco store will anchor a mixed-use development, called Whitestone Station, that it plans to build on a 65-acre former industrial site located west of the interchange of U.S. Highway 41.45 and Pilgrim Road.

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Renovation planned for Albrecht’s Delafied Market
July 9, 2014 10:40 AM
Albrecht’s Delafield Market announced that it will undergo a multi-million dollar renovation project. Each department within the store, located at 3255 Golf Road, will incorporate a fresh new look as well as offer expanded varieties of products.

“We will be celebrating our 20th anniversary later this year and felt that this was the perfect time to remodel and reinvest in our store, our customers, and the community,” said Kerry Jeanpierre, vice president and co-owner of Albrecht’s Delafield Market.  “Each department will truly have its own identity.  Our goal is to offer our customers a wide variety of quality products and services in a comfortable shopping environment."

The remodeling project is expected to be completed in time for the holiday shopping season later this year.

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Leases
July 9, 2014 09:50 AM

Colliers International|Wisconsin

The Sportsman Channel Inc. leased 12,477 square feet of office space at 2855 James Drive in New Berlin.

James Ryan Law Firm leased 1,375 square feet of office space at 352 Corporate Drive in Brookfield.

Judson & Associates

Strike FC Wisconsin Inc. leased 21,000 square feet of space at 528 Industrial Dr., Hartland, from Hartland Properties LLC.

Parallel Employment Group of Wisconsin LLC leased 11,660 square feet of space at 6925 S. 6th St., Oak Creek, from TEG Properties LLC.

Movin & Lubin LLC leased 9,260 square feet of space at 2350 Commerce Ave., New Berlin, from 2350 Commerce Associates LLC.

True Auto Detail LLC leased 4,800 square feet of space at 206 Travis Lane, Units 2 and 3, Waukesha, from Waucom Center LLC.

Geartek Inc. leased 4,000 square feet of space at 594 North Shore Dr., Hartland, from Jag III LLC and JRG III LLC.

Ortiz Electronic Gaming LLC leased 2,880 square feet of space at W227 N937 Westmound Dr., Waukesha, from Nagawicka View Dairy Farm.

Reborn Wellness leased 1,200 square feet of space at 406 Travis Lane, Unit #50, Waukesha, from Waucom Center LLC.

Burrus Research Associates Inc. leased 1,115 square feet of space at 1860 Executive Dr., Suite E2, Oconomowoc, from Bohrer Family Trust.

NAI MLG Commercial

Floorquest-Milwaukee LLC leased 10,000 square feet of space at 1201 Dolphin Ct., Waukesha, from RAB Property II LLC.

Yamazen Inc. leased 6,400 square feet of space at N50 W13740 Overview Dr., Menomonee Falls, from Overview Park Place LLC.

RFP Commercial

Kohler Company leased 82,311 square feet of warehouse space at 2821 Muth Court in Sheboygan.

Beck, Chaet and Bamberger leased 9,433 square feet of office space and Friebert, Finerty, St. John, S.C. leased 7,467 square feet of office space at 330 E. Kilbourn Ave., Milwaukee.

HSA Bank, Webster Bank, leased 15,645 square feet of office space at Schlitz Park located 1515 River Center Drive in Milwaukee.

PKWARE Inc. leased 15,490 square feet of office space at 201 E. Pittsburgh, Milwaukee.  

Arcadis U.S. Inc. leased 9,252 square feet of office space at 126 N. Jefferson St., Milwaukee.

FirstMerit Bank, NA leased 9,010 square feet of space at Cathedral Place, 788 N. Jefferson St., Milwaukee.  

ADT LLC leased 7,649 square feet at 150 N. Patrick Blvd., Brookfield.  

J.A. Hahn Agency d.b.a. Farmers Insurance leased 4,200 square feet of office space at 1675 N. Barker Road in Brookfield.

WhyHigh Technologies Inc. leased 2,952 square feet of office space at 200 Woodland Prime in Menomonee Falls.

Siegel-Gallagher

Empowerment Connection leased 2,164 square feet of retail space at 8155 W. Brown Deer Road, Milwaukee, from SG2 LLC.

Catholic Community Foundation leased 1,463 square feet of space at 637 E. Erie St., Milwaukee, from Frontage LLC.

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Sales
July 9, 2014 10:27 AM

Judson & Associates

Brian Kesseler purchased 2,500 square feet of space at N115 W18970 Edison Dr., Units E and F, Germantown, from OIG LLC.

Megal Development Corp. purchased 2.07 acres at 4529 N. 124th St., Butler, from the Community Development Authority of the Village of Butler.

RFP Commercial

LCM Funds 30 St. Paul LLC purchased a 98,459-square-foot warehouse facility at 1741 W. Saint Paul Ave., in Milwaukee.

Ultra Tool & Manufacturing purchased a 41,805-square-foot industrial facility at W194 N11811 McCormick Drive, Germantown.

KAT Logistics purchased a 39,960-square-foot industrial facility at 300 W. Edgerton Ave., Milwaukee.

Sham Investments LLC purchased a 14,894-square-foot office/retail facility at 7000 W. Good Hope Road, Milwaukee.

Underground of Wisconsin LLC purchased a 13,920-square-foot industrial facility at 5455 N. 131st St., Butler.

WW Trackside LLC purchased 14.38 acres of vacant land at 800 W. Oakwood Drive in Oak Creek.

Siegel-Gallagher

Riverworks Development Corp. purchased 21,784 square feet of space at 3304-34 Holton, Milwaukee, from First Place Bank.

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New construction
July 9, 2014 09:44 AM

Brookfield-based Briohn Building Corp. has completed the design and construction of a 96,000-square-foot industrial building for Northern Gear LLC at W160 S6609 Commerce Drive in Muskego’s Moorland Commerce Center West.  Briohn has also started construction of an 8,600-square-foot retail building located at N96 W17950 County Line Road in Germantown.

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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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