Real Estate

The metro Milwaukee office market has struggled for years, but Milwaukee-based NAI MLG Commercial's third quarter office market report is predicting a revival for the area's class A office space market.

The strong run for the southeastern Wisconsin industrial real estate market continued in the third quarter. The region’s industrial real estate market absorbed 1.4 million square feet of space in the quarter, according to the latest report from Xceligent and the Commercial Association of Realtors Wisconsin (CARW).

A biography of Milwaukee-based Zilber Ltd. founder Joseph Zilber, written by Zilber and longtime Milwaukee journalist Kurt Chandler, will be published this month by Marquette University Press.

Wauwatosa-based real estate firm Wangard will begin construction by the end of this week or early next week for a 104-unit, 4-story apartment building at the southwest corner of North Jefferson Street and East Lyon Street in the Park East corridor in downtown Milwaukee.

FedEx will move the headquarters of its SmartPost subsidiary from New Berlin to the Brookfield Lakes Corporate Center XI building at 17950 W. Corporate Drive, according to Andrew Weltcheff, senior vice president of asset management for Hammes Company, which owns the building.

Long Beach, Calif.-based HCP Inc., a real estate investment trust that serves the health care industry, recently purchased the Post Acute Specialty Hospital of Milwaukee, located at 5015-17 S. 110th St. in Greenfield, from Toledo, Ohio-based Health Care REIT Inc. for $15.2 million, according to state records.

Wauwatosa-based real estate firm Wangard is working on plans for a mixed-use development that would include a grocery store for a vacant 8-acre site northeast of South First Street and East Greenfield Avenue in Milwaukee's Walker's Point neighborhood.

Wauwatosa-based commercial real estate firm Irgens recently purchased the 66-acre Ruby Farms site in Brookfield for $10.17 million, according to state records. The property is located north of I-94 west of Calhoun Road and south of Bluemound Road.

Eden Prairie, Minn.-based The Timm Corp. recently purchased the Holiday Inn Express hotel at 15451 W. Beloit Road in New Berlin from Whitewater-based Hotel and Conference Center LLP for $4.15 million, according to state records.

Middleton-based Raymond Management Company plans to build a three-story, 110-room Home 2 Suites hotel at 5880 S. Howell Ave., Milwaukee, near Mitchell International Airport.