Saginaw, Mich.-based Central Property Development Inc. recently purchased the corporate headquarters office building for Batteries Plus LLC in Hartland for $3.85 million, according to state records.
The 30,256-square-foot office building, built in 1999, is located on a five-acre site at 1325 Walnut Ridge Dr. It was sold by Hartland-based BRC Inc. The registered agent for BRC is James Maslowski, according to state records.
The building sold for slightly more than its assessed value of $3,597,400, according to Waukesha County records.
Central Property Development acquires and holds real estate for investment purposes, said Terri Drenth, vice president.
“We purchased the building as an investment with a tenant in place,” she said. “This was a great opportunity for us to enter the (southeastern Wisconsin) market.”
Batteries Plus occupies the entire building and moved its headquarters there in February, Drenth said. The firm has a long term lease for the building through July of 2024, she said.
Batteries Plus, which opened its first store in 1988 in Green Bay, now claims to be the nation’s largest battery and light bulb store franchise with with more than 600 locations in 46 states and Puerto Rico.