Securant Bank & Trust recently acquired the former Sara Lee Bakery Group plant at 918 W. Somers St. in Milwaukee, according to state records. The property was sold by Waukesha-based PPE Real Estate II LLC in a sheriff’s deed pursuant to judgement of foreclosure.
Sara Lee closed the plant in 2005. It is located northeast of I-43 and Fond du Lac Avenue, near downtown Milwaukee. It is also located next door to the Tenth Street Brewery, which is part of MillerCoors LLC’s Tenth and Blake Beer Co., which produces craft beers including Leinenkugel’s products.
The two-story, 110,192-sqaure-foot former Sara Lee building was built in 1924. It has an assessed value of $1.1 million, according to city records, but the value of the real estate transferred to Securant Bank is considered $535,000, according to state records.