Jannsen & Company S.C., a Waukesha-based accounting firm, is planning to move its headquarters to a new office building that it will build in Pewaukee. The company currently leases 6,500 square feet of space at W229 N1433 Westwood Drive, Waukesha.
“We like the idea of having the rent payment instead go toward owning our own place,” said Terry Jannsen, managing shareholder for the company. “We’ve been paying rent since this company started (32 years ago). We just felt it was right to have ownership. We’ve been looking at doing this for a couple of years.”
The company plans to purchase a 2.5-acre vacant property from Waukesha County at the southeast corner of Highway 164 and Capitol Drive for its new headquarters. Mike Judson of Judson & Associates brokered the property purchase for Jannsen.
“We wanted to stay in this general area,” Jannsen said. “Since we moved here (from Brookfield in 1997), our firm has grown very well. We just want to stay in the Waukesha County community.”
The company plans to build a two-story, 24,000-square-foot office building on the new site. Gerald Nell will be the general contractor for the $2.5 million to $3 million project.
Jannsen will occupy the entire second floor, which will include a small fitness room for employees, and will lease the first floor to three tenants. One of the tenants will be First Choice Mortgage, which will also be a part-owner of the building. Jannsen declined to name the other two tenants.
The project is expected to be complete in May of 2009.
“All of our leases are up at the same time,” Jannsen said. “We’re coordinating everybody’s lease.”
Jannsen & Company will nearly double its office space in the new building.
“We probably don’t need any more space as we sit here today,” Jannsen said. “But we do with our growth plans and our expectations as to where we are going as a firm.”
The company has about 27 employees and adds another five or six each year during tax season. In four to five years, the company could have 40 to 45 employees, Jannsen said. The firm’s annual revenue is about $3 million, which has almost doubled in the last three years.
“We’d like to be in the $5 million to $6 million range in another four years,” Jannsen said.
Most of the company’s clients are in southeastern Wisconsin. The firm would like to grow by acquisitions, Jannsen said.
“We’d like to acquire a couple of firms if we could,” he said. “That’s something that’s always part of the growth plans.”
Arandell Corp., a printer and distributor of catalogs, plans to add a 106,596-square-foot expansion to its plant at N82 W13118 Leon Road, Menomonee Falls. The expansion will bring the building’s total square footage to 565,325. The additional space will be used for logistics and for some binding equipment.
Modern Equipment Company Inc. recently purchased the 164,614-square-foot industrial building on 13.33 acres at 369 Western Ave., Port Washington, from TRAK International for about $940,000. Modern Equipment is currently located at 336 S. Spring in Port Washington and plans to move to the Western Avenue building.
Mills Enterprises LLC plans to build a 90-room Candlewood Suites extended stay hotel just northeast of 74th Street and 104th Avenue. Candlewood Suites is a brand of Windsor, U.K.-based InterContinental Hotels Group, which has 142 Candlewood locations throughout North America and another 127 planned in the pipeline. Candlewood Suites caters to mid-market business and leisure travellers looking for a multiple night hotel stay.
Robert Clemen, the managing member of Williams Bay-based InvestInLand LLC, plans to build 210 residences on 140 acres at Highway O and South Shore Drive, southwest of Delavan Lake in the Town of Walworth. The development, called Covered Bridges, would have 74 single family homes and 68 duplex condominiums. This project is just the latest example of how sprawl from the Chicago area is creeping across the state line, resulting in residential development in Kenosha and Walworth counties.
CVS Pharmacy plans to build a 13,000-square-foot store on a 1.7-acre lot at 5960 W. Brown Deer Road. A small office building at the northeast corner of 60th Street and Brown Deer Road would be torn down to make way for the pharmacy. Woonsocket, R.I.-based CVS Corp. has 6,200 pharmacies in United States.
Buffalo Wild Wings plans to open a location in a building at 705 W. Paradise Drive, which was formerly occupied by The Great 50 restaurant at the southwest corner of Paradise Drive and South 7th Street, in front of a Menards store. The rapidly expanding Minneapolis-based chain of restaurants, which specialize in chicken wings, has 405 locations in the U.S., including five in southeastern Wisconsin.
The Equitable Bank recently opened its 12th location, a new 4,900-square-foot building at N15 W30921 Golf Road, Delafield. Wauwatosa-based The Equitable Bank has about $600 million in total assets.
Avicom Marking Communications, a Waukesha-based marketing firm, and Brookfield-based Briohn Building Corp. recently purchased a 40,000-square-foot office building at 2021 Pewaukee Road, Waukesha, for $3.9 million from Sky Plaza LLC. Mike Judson and Lori Hake of Pewaukee-based Judson & Associates represented the buyer and seller in brokering the deal. Avicom plans to move to the building from its current location less than a mile away at 1801 Airport Road in Waukesha. The firm will occupy about 25,000 square feet in the Pewaukee Road building, doubling its current office space.
Brown Deer-based Bank Mutual plans to build a 4,000-square-foot bank branch at 8400 W. Forest Home. A Pteris Landscaping building on the 1.1-acre property will be demolished. Bank Mutual has 76 locations in Wisconsin, one in Minnesota, and about $3.5 billion in total assets.
Perfecto Restaurant Group plans to open a Mexican restaurant called Habaneros Mexican Kitchen in a 3,400-square-foot space at 7925 Layton Ave. The building was formerly occupied by an Eggerts Furniture store, and has been converted into a multi-tenant building.
Marathon Petroleum Co. plans to demolish the Speedway gas station and convenience store at 4265 S. 60th St. to build a new, 3,900-square-foot Speedway gas station and convenience store in its place.
Steve Anderson plans to build a 3,500-square-foot office building at on a half-acre vacant lot at 8430 Forest Home Ave.
A 36,000-square-foot industrial building at 11331 W. Rogers St. that was more than half empty less than six months ago is now nearly filled with tenants. The building is owned by Mike Frede, the owner of Drake Environmental. Frede planned to sell the building, but a group of investors that planned to buy it backed away from the deal in April. Since then, Frede has converted the structure into a multi-tenant building. “It’s in essence brand new, we completely rebuilt the building,” Frede said. NAI MLG Commercial brokers Adam Matson and Curt Pitzen have attracted several tenants to the building. The tenants include Blue Prints Inc., which leased 16,326 square feet, Dane Repertoire, which leased 3,600 square feet of space, Four Winds Martial Arts, which leased 3,600 square feet and S&S Automotive, which leased 5,134 square feet. Now only about 2,100 square feet of space is available in the building. The industrial real estate market seems to be strong, said Matson and Pitzen, who have both brokered several deals in recent months. “Companies are growing and looking to expand,” Pitzen said.
Commercial Real Estate Transactions
Alexander Law Offices S.C. leased 1,199 square feet of office space at 933 N. Mayfair Road, Wauwatosa, from 933 N. Mayfair Road Limited Partnership.
Aegis Therapies Inc. leased 5,280 square feet of office space at 440 Wells St., Delafield, from Lang Campus LLC.
Blueprints Inc. leased 16,326 square feet of industrial space at 11331 W. Rogers St., West Allis, from Zion Properties LLC.
Pytlik Enterprises LLC subleased 2,700 square feet of retail space at 11333 W. Silver Spring Dr., Milwaukee, from DB Real Estate Assets 1 LLC.
CB Richard Ellis
NBDA Enterprise LLC leased 1,303 square feet of retail space at 900 Gateway Ct., West Bend, from Leisure Investments Inc.
Harvest Bible Chapel of Franklin Inc. leased 1,101 square feet of retail space at 6971 S. 27th St., Franklin, from Bouraxis Properties LLC.
Nonhof Family Corp. d.b.a. Sociale Gourmet leased 1,663 square feet of retail space at the northwest corner of Good Hope Road and Appleton Avenue in Menomonee Falls from The Woodlands at North Hills LLC.
David and Linda Abstetar d.b.a. Speedy Sign A Rama U.S.A. leased 900 square feet of retail space at 3787 S. 108th St., Greenfield, from Javic Realty Investment LLP.
Monarch Creative Inc. leased 2,283 square feet of office space at 309 N. Water St., Milwaukee, from Water Street Lofts LLC.
Carson Pirie Scott LLC leased 53,750 square feet of retail space at 801 W. Layton Ave., Milwaukee, from S-L-S Company LLP.
Davis & Kuelthau S.C. leased 35,046 square feet of office space at 111 E. Kilbourn Ave., Milwaukee, from GLR Milwaukee Center LLC.
Mortgage Guaranty Insurace Corp. leased 29,510 square feet of office space and Beck, Chaet & Bamberger S.C. leased 9,433 square feet of office space at 330 E. Kilbourn Ave., Milwaukee, from Plaza East Inc.
Gags and Games Inc. d.b.a. Halloween USA leased 31,398 square feet of retail space at 4901 Washington Ave., Racine, from Westgate Leasing LLC.
Mayura Restaurant LLC leased 2,351 square feet of retail space at 1958-62 Farwell Ave., Milwaukee, from Farwell Shoppes LLC.
W.G. & R. Furniture Co. leased 2,262 square feet of retail space at N96 W18900 County Line Road, Germantown, from Continental 141 Fund LLC.
North Shore Urology S.C. leased 2,824 square feet of office space in Bayshore Town Center at the northeast corner of Silver Spring Drive and Port Washington Road in Glendale.
Subway Real Estate leased 1,500 square feet of retail space at 8201 S. Howell Ave., Oak Creek, from Demco Wisconsin 1 LLC.
Marcus Family Holdings Inc. leased 949 square feet of office space at 100 E. Wisconsin Ave., Milwaukee, from 100 East Wisconsin Avenue Joint Venture.
Francis Investment Counsel LLC leased 3,500 square feet of office space at 21180 W. Capitol Dr., Brookfield, from Leopold/Trainor LLC.
Jeff’s Fast Freight leased 30,300 square feet of industrial space at 5120 International Dr., Cudahy, from DSBL LLC.
CW Mortgage LLC leased 610 square feet of office space at 2505 N. Mayfair Road, Suite 215, Wauwatosa, from Sunset Investment Co.
Atlantic A/C & Heating Inc. leased 650 square feet of space in the West Allis Commercial Center, 2142 S. 55th St., West Allis.
2nd Day Services LLC leased 1,727 square feet of space in the West Allis Commercial Center, 2006 S. 55th St., West Allis.
Mid-America Real Estate
NAPA Auto Parts leased 6,000 square feet of space at 1425 W. Burnham St., Milwaukee, from BRIC Associates.
Spirit Halloween Superstores LLC leased 8,366 square feet of space at Grant Park Plaza, 2901 S. Chicago Ave., South Milwaukee, from Alexander & Bishop.
Starbucks Coffee Co. leased 1,828 square feet of space at 801 W. Moreland Blvd., Waukesha, from KVG Building Corp.
Xentel Inc. leased 2,840 square feet of space in National Plaza at 11108 W. National Ave., West Allis, from National Plaza LLC.
Buffalo Wild Wings leased 5,575 square feet of space at the southwest corner of Paradise Drive and South 7th Street in West Bend from R&K Land Company LLC.
Noodles & Company leased 2,619 square feet of space and Rapid Refill Ink leased 1,300 square feet of space in Schmit’s Pavilion at Highway 60 and Port Washington Road in Grafton from Rick Schmit Rentals Inc.
McDonald’s USA LLC leased 51,400 square feet of space at 7130 N. 76th St., Milwaukee, from Spectrum 76MCD LLC.
NAI MLG Commercial
Fund Raising Acquisitions LLC leased 18,000 square feet of space and Custom Service Hardware leased 7,200 square feet of space at W60 N171 Cardinal Ave., Cedarburg, from Alin Properties.
Restaurants Unlimited International leased 7,400 square feet of space in Riverfront Plaza at 1110 N. Old World Third St., Milwaukee, from Ruvin Development Inc. Restaurants Unlimited plans to open a Kincaid’s upscale seafood and steak restaurant in the space, which was formerly the home of Third Street Pier.
American Family Insurance purchased a 2,160-square-foot office condo in Watertown Office Plex at 675 N. Barker Road, Brookfied, from Brookfield Watertown Ventures LLC.
CB Richard Ellis
Modern Equipment Company Inc. purchased the 164,614-square-foot industrial building on 13.33 acres at 369 Western Ave., Port Washington, from TRAK International.
S-F Analytical Laboratories Inc. purchased the 19,344-square-foot industrial building on 1.5 acres at 2345 S. 170th St., New Berlin, from Suess Trust.
6 Points LLC purchased a 5,150-square-foot building at 6125 W. National Ave., West Allis, from S-F Analytical Laboratories Inc.
LG River Tower Associates LLC purchased a 4,470-square-foot building at 6121-23 W. Greenfield Ave., West Allis, from S-F Analytical Laboratories.
Ashley Furniture Industries Inc. purchased 5.32 acres on Cabela Way in the Town of Polk from
Cabela’s Retail Inc.
King Motorsports purchased a 14,500-square-foot building on 3.69 acres at 2130 S. Danny Road, New Berlin, from Journal Sentinel Inc.
S-F Analytical Laboratories Inc. purchased the 19,344-square-foot industrial building at 2345 S. 170th St., New Berlin, from Suess Trust. S-F Analytical Laboratories plans to move from its current location at 6125 W. National Ave., West Allis, to the larger New Berlin building.
Haire Real Estate LLC purchased 14,500 square feet of industrial space at 2830 W. Stark St., Milwaukee, from Hot Water Real Estate LLC.
Mid-America Real Estate
Guaranteed Auto Sales purchased the land and
building at 3116 22nd Ave., Kenosha, from McDonald’s USA LLC.
CP Waukesha purchased 2.5 acres of land in the Waukesha Corporate Center from MLG Waukesha LLC.
Ealon LLC purchased a 69,485-square-foot industrial building at 1050 Walnut Ridge Dr., Hartland, from License Products Inc.
Sanchez Painting and Decorating Inc. received a $100,000 MEDC loan to purchase a 6,240-square-foot warehouse and office building at 3304 W. Pierce St., Milwaukee. The company plans to repair the building’s roof, build out more office space and add security fencing.
Brelie Gear Company Inc. received a $260,000 MEDC loan to purchase a 34,049-square-foot manufacturing facility at 2715 S. Gladstone Place, Milwaukee.
DAAR Engineering Inc. received a $500,000 MEDC loan to purchase the 9,922-square-foot building at 518 W. Cherry St. The company, is a civil engineering firm that has 69 employees and plans to add another 11, plans to move to the building from 1126 S. 70th St., West Allis.
Community Building & Restoration LLC received a $114,000 MEDC loan to purchase and repair a 4,956-square-foot warehouse building at 3913-15 N. Palmer St.