5 Alarm Fire & Safety Equipment recently purchased the 12,000-square-foot industrial building that it occupies at 350 Austin Circle in Delafield from First National Bank and Trust Company for $700,000.
NAI MLG Commercial principal Stephen Provancher brokered the deal for the buyer and the seller.
The building was previously owned by a contractor who bought it about 6 year ago and planned to convert the building into a restaurant, Provancher said. The restaurant deal fell through, however, and then the building was leased by 5 Alarm Fire. Last year the contractor lost the building to the bank.
“After working with an established investor to buy the building, the tenant (5 Alarm Fire & Safety) decided to buy the building instead of signing a long term lease,” Provancher said.