Real estate deal of the week

Minneapolis-based Geneva Organization recently purchased Executive Center V, a three-story, 55,079-square-foot office building at 300 N. Executive Dr., Brookfield. Geneva Organization bought the building from Milwaukee-based NOVA II LLP for $7 million. The property has an assessed value of $6,171,900, according to Waukesha County records. Mike Fardy and Tom Shepherd of Inland Companies represented the buyer and the seller in brokering the deal. The building is 90 percent occupied, and its tenants include APS Healthcare and Kerry Spice Group. This is the second recent sale of an office building on Executive Drive. Minoqua-based Builder’s Investment & Realty Inc. recently purchased Executive Center III, the three-story, 55,678-square-foot multi-tenant office building at 125 N. Executive Dr., Brookfield, from Des Moines, Iowa-based Principal Life Insurance Co. for $5.55 million. The sale price was about $310,000 lower than the property’s assessed value of $5,859,700, according to Waukesha County records. Fardy and Shepherd represented Principal in brokering that sale. Barb Tates and Tim Brunow of Brookfield-based MLG Commercial represented Builder’s Investment & Realty.