New Berlin-based K.G. Stevens Inc., a fabricator and installer of countertops, recently purchased the former headquarters of The Boelter Companies, a 127,400-square-foot industrial facility at 11100 Silver Spring Road, Milwaukee, according to state records.
K.G. Stevens Holdings LLC purchased the building for $2.1 million from an affiliate of private equity firm KTR Capital Partners, according to state records. KTR is also the developer for the Amazon.com warehouse project in Kenosha.
KTR was represented by Sam Dickman Jr. of the Dickman Company.
The Boelter Companies moved its headquarters from the Silver Spring Road building to Waukesha about five years ago, according to employees with the company, which is a distributor of food service products.
The deal further reduces the inventory of available industrial buildings in the area. The metro Milwaukee area’s industrial real estate market had a vacancy rate of 6.0 percent and absorbed 1.4 million square feet of space in the third quarter of 2013, according to Xceligent.