Deals of the week

West Allis School District buys office building for $3.7 million, CH2M Hill renews lease at Honey Creek…

West Allis School District buys office building for $3.7 million
The West Allis-West Milwaukee School District recently purchased a 7-story, 93,750-square-foot office building at 1205 S. 70th St., West Allis, from LaSalle 115 Holdings LLC-Series West Allis for $3.7 million, or about $39.47 per square foot.
The building was once part of the Allis-Chalmers complex.
Thomas L. Richter of Brookfield-based Richter Realty & Investment Inc., was the broker for the seller.
Tenants in the building include MATC offices of corporate learning and economic development, the Bureau of Milwaukee Child Welfare and the UWM-Helen Bader School of Social Welfare Field Training Unit.

 

CH2M Hill renews lease at Honey Creek Corporate Center
Englewood, Colo.-based engineering firm CH2M Hill Companies Ltd. recently signed a lease renewal for its Milwaukee office, which will remain in the Honey Creek Corporate Center at 135 S. 84th St., on the city’s west side. The company has about 140 employees in its Milwaukee office.
The company had considered relocating the office but, contrary to several published reports, never considered moving to a new downtown Milwaukee office building, said vice president and area manager Allan Erickson. A new building downtown was not an option because the company’s lease was set to expire in October and firm began its search last spring, he said.
However, the company did considering the moving the office to existing downtown buildings, Erickson said. The firm looked at possible locations along the I-94 corridor between downtown and the Milwaukee County Research Park in Wauwatosa, he said.
“We talked to a lot of great folks,” Erickson said. “In the end Honey Creek made a proposal that we couldn’t turn down.”
Erickson said “there really was” a chance that the firm would move the office downtown, but no offer was right.
CH2M Hill’s office has been at Honey Creek for 10 years, after moving there from downtown.
The cost of parking downtown was a major issue, Erickson said. In addition, more of the firm’s employees have moved to the western suburbs, so the Honey Creek location is more convenient for them, he said.
“We are happy to be staying at Honey Creek,” Erickson said. “Honey Creek has been a good home to us for 10 years and will be a good home going forward.”

 

Former Grede HQ sold for $1.55 million
Cities and Villages Mutual Insurance Co. recently purchased the 24,696-square-foot former Grede Foundries headquarters building at 9898 W. Bluemound Road, Wauwatosa, for $1.55 million, or $62.76 per square foot.
The sale was brokered by Sam Dickman Sr. and Brian Parrish of The Dickman Company, who represented Grede LLC, and by John Mazza and Dan Jessup of Grubb & Ellis|Apex Commercial, who represented the buyer.
Cities and Village Mutual will move its headquarters to the building from its current location at 1250 S. Sunny Slope Road, Brookfield, where it occupies 6,700 square feet of space Mazza said. The company will make the move early next year, he said.
Grede moved out of the building recently. Grede Holdings LLC was formed early this year through the combination of the assets of the former Grede Foundries Inc. with Citation Corp. Grede Foundries had filed for Chapter 11 bankruptcy reorganization. The transactions included the closing of the purchase of substantially all the assets of Grede Foundries by Grede LLC, an entity controlled by a private investment fund managed by Wayzata Investment Partners LLC. The new Grede is headquartered in Novi, Mich.

 

Pewaukee building sold for $1 million
Dan Hlavacheck, the owner of Noble Medical Inc., recently purchased the 17,000-square-foot Blake Stevens Wood Flooring Inc. building at N27 W23727 Paul Road, Pewaukee, for $1 million, or about $58.82 per square foot.
The sale was brokered by Mike Judson of Judson & Associates, who represented Blake Stevens, and Stephen Provancher, Joe Powers and Tim Janus of NAI MLG Commercial, who represented Hlavacheck.
Noble Medical will move its warehousing into the building, Provancher said. The company’s headquarters will remain at 19525 Janacek Ct., Brookfield.
Blake Stevens is moving to another building.

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