Featured Deal: West Quarter properties

Featured Deal

Last updated on July 3rd, 2019 at 12:18 pm

Earlier this spring, Milwaukee-based Cobalt Partners LLC announced it had completed the acquisition of nine properties along the South 70th Street corridor in West Allis related to its West Quarter development.

The properties were acquired for a total of $11.75 million. Eight properties are on the west side of the street, and were acquired by an affiliate of Cobalt from the West Allis school district for $7.25 million. The property on the east side of South 70th Street, the former site of Allis-Chalmers’ offices, was purchased from a New Mexico investor for $4.5 million.

The West Quarter project calls for 300,000 square feet of office space, 140,000 square feet of educational/institutional uses, 18,000 square feet of retail and a 128-room hotel. The project will include 125,000 square feet of existing space. Other buildings will be demolished. Cobalt envisions the development as a transit-oriented, amenity-rich district focused on industry, education and innovation.

Price: $11.75 million

Buyer: Cobalt Partners LLC

Sellers: School District of West Allis-West Milwaukee; 1126 West Allis Operating Associates LP

Size: More than 18 acres

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Alex Zank
Alex Zank covers commercial and residential real estate for BizTimes. Alex previously worked for Farm Equipment magazine and also covered statewide construction news at The Daily Reporter. He graduated from the University of Wisconsin-Eau Claire, where he studied journalism, political science and economics. Having grown up in rural western Wisconsin, Alex loves all things outdoors, including camping, hiking, four-wheeling and hunting.