Brookfield-based
Better Cowork, a company that converts vacant commercial buildings into coworking office space, has sold its three Waukesha County buildings.
State records posted this week show that Better Cowork sold its building at W239 N3490 Pewaukee Road in Pewaukee and its building at 12500 W. Bluemound Road in Elm Grove to an affiliate of Kenosha-based
Bear Real Estate Group for $3.3 million. Better Cowork bought the two buildings for a combined $4.7 million, according to state records.
Better Cowork purchased the Pewaukee building, a former Inlanta Mortgage office building, for $3.2 million, upgraded it and opened the space late last year. The renovation included the buildout of a variety of spaces including open spaces, meeting spaces, private offices and suites, as well as new technology and furniture.
The Elm Grove building, a former Advocate Aurora clinic, was purchased by Better Cowork for $1.5 million. Better Cowork founder
Alex Simic told BizTimes in July that
the space was supposed to open in January, but Better Cowork's website says the location is "coming soon."
Better Cowork also owned a third Waukesha County building, a former Boston Store Furniture Gallery, at 18615 W. Bluemound Road in Brookfield. The company purchased the building in July for $1.35 million. Then a record posted in January shows that Better Cowork sold the building for $1.5 million to a Milwaukee-based entity, APE LLC.
Representatives from Better Cowork, Bear Real Estate Group and APE LLC did not respond to requests for comment.
Simic founded Better Cowork in 2022 after selling 1 million square feet of self storage space for $125 million. He said in July that Better Cowork intended to own the coworking spaces and rent them out to users.
