Deals of the week

New Land reports sales spike in March. Guaranty Bank leased 42,000 square feet of office space at Bayshore Town Center.

New Land reports sales spike in March
Despite the slumping economy and housing market, Milwaukee-based New Land Enterprises LLP announced recently that its sales rose last month. The company said it sold "multiple units," bringing in an estimated $3 million in sales for the month. New Land sold four condos, two one-bedroom units and two two-bedroom units, for an approximate total of $1.8 million in the City Green development at 1111 N. Marshall St., Milwaukee. City Green has a total of 44 condos, and so far 14 have been sold. New Land also said it sold a town house in its Terrace Row development at Kilbourn Avenue and Cass Street in downtown Milwaukee. Terrace Row has only four units, each is a three-story, 3,600-square-foot condo. They are priced between $1.25 million and $1.35 million. Terrace Row is still under construction and a model will b e available for viewing in July.

Guaranty Bank leased 42,000 square feet of office space at Bayshore Town Center in Glendale. "We no longer view the workplace as an endless sea of cubes and workstations," said Brent Tischler, senior vice president of retail banking for Guaranty Bank. "Our new Bayshore space will be designed to foster greater integration across teams. Our space will offer a bright, collaborative and efficient environment within the vibrant Bayshore Towne Center, which should help us attract and retain top talent." Kevin Armstrong of CB Richard Ellis represented Guaranty Bank in brokering the deal.

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Lake Forest, Ill.-based Westminster Funds recently purchased the First Park Butler Distribution Center, a 100,000-square-foot industrial building at 4410 N. 132nd St., Butler, from Chicago-based First Industrial Realty Trust for $5.5 million. The three-tenant building is 100 percent leased. Inland Companies broker Tom Shepherd brokered the deal for the buyer and seller.

Halewhit Properties LLC recently purchased the 15,100-square-foot Ring Building at 1849 N. Dr. Martin Luther King Jr. Dr., Milwaukee, from Ring Bldg LLC for $1.625 million. The building has an assessed value of $1.454 million, according to city of Milwaukee records. Inland Companies brokers Tom Shepherd, Lyle Landowski and Steve Pape represented the seller in brokering the deal.

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