Real Estate

Southeastern Wisconsin’s office, industrial and retail real estate markets posted strong levels of space absorption during the third quarter.

Using a Back to the Future theme to illustrate his points, Racine Mayor John Dickert, challenged his colleagues to stop nitpicking at budgets and build a future for the next generation that will allow them to compete globally.

Wisconsin Gov. Scott Walker believes one of the challenges that will continue to face Wisconsin and the tri-state region is the skills gap that has plagued the region for several years.

The City of Mequon will decide which developer will be offered a chance to purchase 13.4 acres of prime real estate for $1 by the end of the month.

Allenton-based Kreilkamp Trucking purchased a 102,000-square-foot warehouse and office building in Germantown from Airgas Safety Inc. for $3.38 million. The Barry Company worked closely with Airgas Safety over the last couple of years to procure a site for the company’s new 250,000 square foot building and to assist them in the sale of their current building at W185 N11300 Whitney Drive. “Activity was great and the building showed very well,” said Jim Young of the Barry Company, who worked with Kurt Van Dyke on the sale. “We had well over 30 tours of the property during our marketing campaign from all different industries.” With this sale, the last available 100,000-square-foot of industrial/manufacturing building in Washington County comes off the market as demand still grows. “This was one of the only remaining big blocks of space on the far northwest side for users to consider and I think it's going be challenging going forward to place tenants and buyers, unless we see some meaningful construction activity or new vacancy come online in 2016,” Van Dyke said. Adam Williquette, senior vice president of Anderson Commercial Group, represented Kreilkamp Trucking. Indiana Investments, LLC, which does business as Kreilkamp Trucking, purchased the property to add to its portfolio. With the purchase, it brings Indiana Investments’ Washington county holdings to more than 800,000 square feet. The company has a user for the building, with exception of about 25,000 square foot office space at the property, Williquette said.

A year after being turned down for a city-financed baseball stadium in Franklin, Developer Michael Zimmerman will be back next week with a proposal for The Rock Sports Complex.

Cobalt Partners closed on about 20 parcels of land this week in Greenfield for a mixed-use development along Interstate 894.

Sales and Leases from area brokers

The number of homes sold in Wisconsin rose to 6,944 in September, up 11.1 percent from September of 2014, according to the latest report from the Wisconsin Realtors Association.

The Coburn Company Inc. of Whitewater purchased for $4 million a former Trek Bicycle building that will serve as its future headquarters.