Waynz World sold
The former Waynz World of Recreation sports center, which closed on March 31, was sold recently by Madison-based Anchor BanCorp Wisconsin Inc. to the International Union of Painters Allied Trades #7 for $2.45 million. Jeff Hoffman of Pewaukee-based Judson & Associates represented Anchor Bank and David Hazenfield of Milwaukee-based The Dickman Company represented the union in brokering the deal. The union plans to convert the 56,460-square-foot building into a training facility.
The building was developed by Wayne and Donna Slawson, who opened the business in early 2006. However the facility did not generate enough revenue to cover the overhead for the facility, which cost about $5 million to build.
"With the economy going downhill that really put the nail in the coffin," Hoffman said.
Anchor Bank took ownership of the facility through a foreclosure action in November, Hoffman said, and was eager to sell it.
"(The sale price) is substantially below replacement cost," Hoffman said. "The bank wanted to get this thing moved."
Granville Professional Building sold
K&K Holdings Granville WI LLC purchased the 33,443-square-foot Granville Professional Builidng at 9001 N. 76th St., Milwaukee, from Granville Professional Building LLP for $1.75 million. John Dulmes of Siegel-Gallagher represented the sellers in brokering the sale. "Being cognizant of today’s new financial environment played an important role in the buying decision," Dulmes said. "We were confident about the soundness of K&K Holdings’ investment plan and with Granville’s optimal location and price, the transaction was plainly the right move."