Scion Asset Management LLC, d.b.a. Scion Dental, recently purchased a 35,000-square-foot office building at N92 W14612 Anthony Ave., Menomonee Falls, from Olson Capital Investments LLC for $675,000, or $19.29 per square foot.
Kevin Barry of Milwaukee-based Cassidy Turley Barry represented Scion and Steve Provancher and Brett Garceau of Brookfield-based NAI MLG Commercial represented Olson Capital in brokering the sale.
Scion is a Medicaid dental administration company, currently based in a 20,000-square-foot space at 10201 N. Port Washington Road. The company, which has 78 employees, needs more space and will likely move its headquarters to the Menomonee Falls building but will maintain some operations in the Mequon building, said chief financial officer Lisa Sweeney.
“The management of Scion has an extensive history in the dental reimbursement business," Sweeney said. "Peple want to come back and work with us.”
Olson Capital purchased the property 8 years ago as an investment opportunity and PC Mall previously occupied the entire building. A few years ago, PC Mall was purchased by a Canadian company. Then most of the operations were moved to Canada leaving the building vacant over a year ago, Provancher said.