Falls Commerce Center I and II sold
Sterling Investments LLC recently purchased the Falls Commerce Center I and Falls Commerce Center II buildings, located southwest of Silver Spring Drive and Lilly Road in Menomonee Falls, from Brookfield Real Estate Opportunity Fund for $2.35 million. NAI MLG Commercial brokers Curt Pitzen and Adam Matson represented Brookfield Real Estate Opportunity Fund and Mark Peltin represented Sterling Investments in brokering the sale. Sterling Investments LLC was formed by the owners of Sterling Commerce Group Inc., a tenant in Falls Commerce Center.
“We took over the brokerage of this property three and a half years ago and brought it to its highest occupancy rate in the last 10 years,” Matson said. “We put in Sterling Satellites, and their business has continued to grow. They were in the process of more than doubling their space needs and felt ownership was the most beneficial path to take.”
General Beverage Sales moving to New Berlin
General Beverage Sales Co. Inc. and GB Sales Co. Inc. plans to move operations from West Allis to 60,550 square feet of space that it is leasing in the Towne-Luterbach I building at 16055 W. Stratton Dr., New Berlin, from a joint venture of Towne Investments and James T. Luterbach. The lease deal was brokered by Tom Bernacchi and Michael Kleber of Towne Investments. General Beverage Sales will use the facility as a distribution center.
