Real Estate

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.

Cincinnati-based The Bistro Group Inc. plans to open a Hofbrauhaus restaurant and beer garden in the Old Bavarian Inn building at 700 W. Lexington Blvd. in Glendale.

The Kenosha County village of Pleasant Prairie, which for years has been a hot spot attracting businesses moving north from the Chicago area, continues to attract development. The village’s Plan Commission on Monday approved plans for a 254-acre business park and a 10-acre office development.

Chicago-based Oak Street Real Estate Capital, a private equity real estate firm, recently purchased the corporate headquarters building for United Heartland in New Berlin for $12.8 million, according to state records.