The former Oilgear Company facility at 2300 S. 51st St. in Milwaukee has sold to an affiliate of West Allis-based Global Power Components roughly one year after manufacturing operations there stopped.
Hyrule LLC purchased the property for $3.2 million, according to state records.
The property, which includes a 250,000-square-foot facility, was assessed at $2.5 million in 2015, according to city records.
Global Power chief executive officer and owner Anthony McIntosh said in June the company plans to move to the facility and will add 40,000 square feet to it and could make more additions in the future.
The company, which makes generator accessories for the power generation market, currently operates out of roughly 165,000 square feet across three facilities near 6682 W. Greenfield Ave. in West Allis.
McIntosh said the company was at a point where it needed a larger facility and could either relocate to Houston to be closer to customers or find a facility in the area.
The Milwaukee Common Council approved a resolution in July supporting the company’s plans for the state Public Finance Authority to issue up to $8.3 million in bonds to finance the expansion plans at the 51st Street facility.
