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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 before being promoted to editor in 2015. An award-winning journalist, Weiland is a five-time winner in the Milwaukee Press Club Excellence in Journalism Awards contest and a three-time winner in the Alliance of Area Business Publishers (AABP) Awards contest. He is also a regular guest on WISN-TV Channel 12's 4 p.m. newscast to discuss the week's most significant business news stories.
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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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