Sheboygan hotel sold
A 60-room America’s Best Value Inn hotel, located at 3402 Wilgus Ave., Sheboygan, was sold recently by ABVI USAssets Wisconsin Limited Partnership to Saheb Investment Group LLC.
The hotel, located just of Highway 23 and I-43, was formerly a Super 8 hotel. Saheb Investment Group plans to convert it back to a Super 8 hotel.
Ronald McCord and Jennifer Church of Oconomowoc-based Milmark Hotel/Hotel Investments LLC represented ABVI USAssets in brokering the sale.
Germantown industrial buildings sold for $1.1 million
Paul Stangl and other family members recently purchased 57,000 square feet of industrial space in two buildings at N112 W14600 Mequon Road, Germantown, from Robert and Helen Aiken for $1.125 million. The main building has 48,760 square feet of space and the other building is 5,280 square feet. The buildings sit on a 4.3-acre lot. The buyers were represented by Adam Matson of NAI MLG Commercial and the seller was represented by Ted Klumb of Equity Commercial Real Estate LLC. Stangl said he and his family members will move two of their companies, Cedarburg-based Raffel Systems LLC and Menomonee Falls-based Radiant Electric Heat, to the large Germantown building. The small building will be leased back to the sellers who will use it for home goods sales
Greenfield Champps building sold for $1.5 million
Paul Bouraxis, the owner of El Fuego Mexican Restaurante at 909 W. Layton Ave., Milwaukee, recently purchased the 10,100-square-foot Champps Americann restaurant building at 5030 S. 74th St., Greenfield, from Irving Sherman Trust for $1.5 million. Bouraxis, who plans to open a Mexican restaurant in the building, paid another $700,000 for the contents of the building, so the total cost of the deal was $2.2 million. The listing broker for the sale was Brentwood Realty and Duane Nimmer of The Nimmer Co. represented Bouraxis.