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Minnesota real estate investment firm buys New Berlin industrial building occupied by Quad division

By
Andrew Weiland
-
Quad In-Store building in New Berlin.
Quad In-Store building in New Berlin.

An affiliate of Edina, Minnesota-based Capital Partners purchased a 90,000-square-foot industrial building at 16600 W. Glendale Ave. in New Berlin from an affiliate of Chicago-based First Industrial Realty Trust for $5.2 million, according to state records. The building is occupied by the In-Store division of Sussex-based Quad/Graphics Inc. Tom Shepherd Sr., Jen Huber-Bullock and Heather

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan, a member of the Muskego Athletic Association board of directors and commissioner of the MAA's high school rec baseball league.
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An affiliate of Edina, Minnesota-based Capital Partners purchased a 90,000-square-foot industrial building at 16600 W. Glendale Ave. in New Berlin from an affiliate of Chicago-based First Industrial Realty Trust for $5.2 million, according to state records. The building is occupied by the In-Store division of Sussex-based Quad/Graphics Inc. Tom Shepherd Sr., Jen Huber-Bullock and Heather Dorfler of Colliers Wisconsin brokered the deal for First Industrial. The property was sold for well above its $2.9 million assessed value, according to Waukesha County records. “We had multiple offers so the price got bid up,” Huber-Bullock said. Capital Partners is one of the largest industrial real estate investors in the Twin Cities area. The acquisition is its first entry into the Wisconsin market, Huber-Bullock said. “There were anxious to get into the Milwaukee market and are likely to do more acquisitions (in the area),” she said.

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