The East Mequon Corporate Center, an office building just west of I-43 in Mequon, has been sold for $4 million.
Minnesota-based Bonten V, LLC, lead by David Bonestroo, sold the building, located at 12075 N. Corporate Parkway, to DOR Properties Mequon, LLC of Delafield.
The 37,717-square-foot multi-tenant office building was built in 2003.
It is currently occupied by six tenants, Optimal Blue, Stantec Consulting Services Inc., Franklin Energy Services LLC, Burnet Title, North Shore Pediatric Therapy, and Cranial Technologies, Inc., who will remain in operation at the building.
Tom Shepherd, Jennifer Huber-Bullock, Matt Fahey, and Mike Wanezek of Colliers International | Wisconsin represented the seller in the transaction. The buyers represented themselves.
DOR Properties has asked Colliers to remain as the leasing agent for the property.
“The investment community is excited about the recent development progress in Mequon,” Shepherd said.
The city’s first mixed-use, urban-style development, Mequon Town Center, 6006 W. Mequon Road, was completed about two years ago in a district, also called Mequon Town Center.
Two more projects, Spur 16 and Foxtown are now planned and in various stages for the town center district.
Spur 16 at 6300 W. Mequon Road includes 146 luxury apartments, 10 townhomes and the Mequon Public Market. Tenants of the market include St. Paul Fish Co., Cafe Corazón, Beans & Barley and Purple Door Ice Cream.
Foxtown, 6411 W. Mequon Road, will include The Foxtown Brewery and Restaurant, which will be housed in a building dating back to 1857 located at 6411 W. Mequon Road.
The project also has mixed-use buildings with ground-level retail and office or commercial space on the second floor, a 23-home “pocket neighborhood,” and a possible extended stay hotel.
“Mequon has always been an attractive place to live, and now it is a more attractive place for commercial investment,” Shepherd said. “Office property occupancy rates are up in this community and that is having a positive impact on real property values.”
