Investors group buys former Prime Leather buildings in Walker’s Point

LCM Funds LLC, a group of local investors, recently purchased the former Prime Leather Finishes Co. property at 184-92 S. 2nd St. and 130 W. Pittsburgh Ave. in Milwaukee’s Walker’s Point neighborhood.

Patricia Stevens of RFP Commercial represented LCM Funds and Mike Seramur of Ogden & Company represented the seller, Second Street Investment Company Inc., in brokering the deal.

Prime Leather Finishes vacated the building about a year ago, Seramur said, and now has its operations in Pewaukee.

The property consists of two buildings with a total of 26,000 square feet of space and a parking lot, Seramur said. According to city records, the property consists of a 12,180-square-foot buiding constructed in 1910, a 7,975-square-foot building constructed in 1947, and a 4,000-square-foot parking lot.

The buildings are in rough shape but could be redeveloped, Seramur said. Walker’s Point has been a hotel spot recently with numerous development and redevelopment projects.

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