Capitol Drive office building portfolio sold for $3.2 million

Archie Realty LLC, an affiliate of Watertown-based Archie Monument & Stone, recently purchased three office buildings, totaling 72,419 square feet of space, at 19265, 19275 and 19395 W. Capitol Dr., Brookfield, from an affiliate of Greenwich, Conn.-based Starwood Capital Group.

The deal was brokered by Rachel Schmidt and Tim Janusz of NAI MLG Commercial.

Starwood bought the buildings from Associated Bank and invested in $300,000 in improvements to reposition them in the marketplace, Schmidt. The buildings are now about 70 percent leased, she said.

Office space tenants are showing an increased interest in the Capitol Drive corridor, Schmidt said.

“Years ago it used to be a challenge to get office tenants to look there,” she said.

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