Hendricks Commercial Properties, an affiliate of Beloit-based Hendricks Holding Co. Inc., recently purchased a 68,675-square-foot industrial building at 11200 W. Heather Ave. on the far northwest side of Milwaukee for $3.95 million, or about $57.51 per square foot.
The building, constructed in 2000, has an assessed value of $2.5 million, according to city records. It had been listed for sale on LoopNet for $4.95 million, or $72.08 per square foot.
The building was sold to Hendricks by JMMT LLC, a subsidiary of Elkhorn-based Magill Construction Co. Inc.
Representatives for Hendricks and Magill could not be reached for comment.
The building is occupied by Elk Grove Village, Ill.-based FPM Heat Treating. The facility is used by FPM for mesh belt processing, batch atmosphere carburizing and through hardening, automated salt bath processing and clamp processing, according to FPM. The facility is equipped to service customer heat treating needs for carburizing, carbonnitriding and neutral hardening and contains the largest hydraulic flattening installations in the Midwest, according to the company.
A representative for FPM did not return a phone call seeking comment.
