Real Estate

Now that the federal government has approved the Menominee Indian Tribe's plans to build an off-reservation casino on a 228-acre parcel at the former Dairyland Greyhound Park in Kenosha, the final say in the matter is up to Gov. Scott Walker.
Walker says there will be a 60-day comment gathering period, which will conclude in late October, about the Kenosha casino. Walker says he will only approve the project if it meets three criteria: "no new net gaming, community support, and consensus among the 11 sovereign nations (in Wisconsin)."

Carroll University will build a state-of-the-art science center in Waukesha for occupancy in fall 2016.

The industrial real estate market in the metro Milwaukee area has been in recovery mode for more than three years, posting 13 consecutive quarters of positive absorption and a vacancy rate that has fallen from about 9.75 percent in late 2008 to 6.6 percent in the second quarter of this year, according to Xceligent.

Northwestern Mutual Life Insurance Co. Inc. has made a $33 million investment in an 87-year-old office building on Van Buren Street, adjacent to its downtown Milwaukee corporate headquarters campus.

Oak Brook, Ill.-based Inland Real Estate Corp. today announced that its joint venture with Dutch pension fund advisor PGGM has acquired a portfolio of three Walmart-anchored shopping centers in the Milwaukee market for a total purchase price of $24.2 million, subject to future earn out payments.

BizStarts, a nonprofit organization that helps entrepreneurs develop their companies, plans to move its downtown Milwaukee office to a 5,000-square-foot space in the RiverCenter building in the Schlitz Park complex.

Hanna Cylinders, a manufacturer of industrial grade tie-rod and custom engineered cylinders, plans to move all of its operations from Libertyville, Ill. to Pleasant Prairie, the Kenosha Area Business Alliance (KABA) announced.

A 131-year-old, three-story, 6,708-square-foot building in Walker’s Point was sold recently by NK Bullard Investments LLC to LAS Investments LLC for $300,000.

Austin, Texas-based Whole Foods Market Inc. plans to open a grocery store in The Mayfair Collection development in Wauwatosa, according to several commercial real estate industry sources.

Milwaukee-based Skyline Development Corp. plans to build a 56,000-sqaure-foot industrial building on a vacant 5.5-acre site at the southeast corner of Donges Bay Road and Fond du Lac Avenue intersection in Germantown. The site is part of a 12-acre parcel purchased by Skyline in 1998.