Home Industries Real Estate Luther Group buys New Berlin industrial building for $13.5 million

Luther Group buys New Berlin industrial building for $13.5 million

Firm has eyes set on industrial market

By
Alex Zank
-
1920 S. Calhoun Road. Credit: Google
1920 S. Calhoun Road. Credit: Google

Elm Grove-based Luther Group LLC has acquired another New Berlin industrial building. Its latest acquisition, at 1920 S. Calhoun Road, went for $13.5 million, according to state records. The buyer was Luther Group affiliate NBI Partners LLC. The seller was JLML Family LLC, an affiliate of New Berlin-based James Luterbach Construction Co. The building is

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Elm Grove-based Luther Group LLC has acquired another New Berlin industrial building. Its latest acquisition, at 1920 S. Calhoun Road, went for $13.5 million, according to state records. The buyer was Luther Group affiliate NBI Partners LLC. The seller was JLML Family LLC, an affiliate of New Berlin-based James Luterbach Construction Co. The building is assessed at roughly $6.67 million, according to Waukesha County records. Its tenants include interior designer Schroeder Solutions and wheelchair manufacturer Permobil. Luther Group did not immediately respond to a request for comment. The firm similarly acquired four New Berlin industrial buildings from affiliates of Luterbach Construction last year for $16 million total. At the time, Luther Group president and manager Jason Luther said his company planned to increase its holdings in the light industrial and flex market, and would continue looking for acquisition and development opportunities in that market. It is also building a 90,000-square-foot industrial facility east of I-41 on Milwaukee's far northwest side.

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