A 388,800-square-foot warehouse leased to Brookfield-based Milwaukee Tool, located on Shawn Circle in Menomonee Falls, was sold for $48.25 million last month.
The seller was an affiliate of Chicago-based First Industrial Realty Trust, and the buyer was an affiliate of New York-based Apollo Global Management Inc. Brokers with Colliers | Wisconsin and Colliers’ Chicago office represented the seller in the deal.
Milwaukee Tool began leasing the building earlier in the year after Sussex-based Quad/Graphics Inc. moved out.
Tom Shepherd with Colliers | Wisconsin said the sale represented the largest single-asset industrial sale for the year in terms of dollar value.
“The transaction sourced fresh capital to the Milwaukee market from a globally prominent East Coast group, who is a new entrant,” he said.
Address: N58 W15350 Shawn Circle
Buyer: NNN Opp IV Owner I LLC
Seller: FR Menomonee Falls LLC
Price: $48.25 million