Real Estate

Physicians Realty Trust, a Milwaukee-based health care real estate investment trust (REIT), went public last week with an initial public offering of 10.4 million common shares at a price of $11.50 per share, for a total of approximately $109.8 million of net proceeds.

250 Plaza, a 20-story office building located at 250 E. Wisconsin Ave. in downtown Milwaukee, was sold for $7.5 million to Lone Star Real Estate Fund II, according to state records. The transaction was recorded on Thursday.

Joseph Property Development LLC, owned by developer Robert Joseph, recently purchased the the five-story former Eisner Museum of Advertising & Design building in Milwaukee’s Historic Third Ward for $2 million from the Milwaukee Institute of Art and Design (MIAD).

A groundbreaking ceremony will be held Tuesday to celebrate the start of construction for The Standard at East Library development at the site of the East Milwaukee Library at 1910 E. North Ave., on Milwaukee's East Side.

Indianapolis-based law firm Scopelitis, Garvin, Light, Hanson & Feary PC plans to open an office in Milwaukee and recently leased 4,000 square feet of office space in the Plaza East building at 330 E. Kilbourn Ave. downtown.

Wauwatosa-based The Equitable Bank has acquired the 117-year-old Germania Building in downtown Milwaukee, according to state records.

An investors group this week purchased a cluster of six small buildings, all built around 1900, located southwest of East Wisconsin Avenue and North Broadway in downtown Milwaukee, with plans to redevelop the site. The buildings wrap around the Railway Exchange building at the corner of Wisconsin and Broadway.

Milwaukee-based Lakefront Brewery Inc. announced today that it has obtained an option to purchase 9.3 acres of land in the Menomonee Valley in Milwaukee that was once intended for an expansion of the Allen Edmonds Shoe Company.

As the U.S. economy continues to improve, more shoppers are returning to stores, and retailers are back in expansion mode.

Construction began recently for developer Arthur Sawall's $19 million Mammoth Springs development at N63 W23231 Main St in Sussex. Two, 30-unit upscale residential buildings will be built this year. The project will take several years to complete, but ultimately the site will have more than 150 residential units, more than 12,000 square feet of commercial space and a walking path highlighting a three-acre quarry pond, Sawall said. “The Mammoth Springs Development will be one of the best and most unique mixed use developments in Waukesha County,” he said. “It will be a stunning development and a great place for people to live with majestic views of the quarry pond.”