Beloit-based Hendricks Commercial Properties has sold the Cast Iron Luxury Living complex, a historic mixed-use property, in West Bend for $21 million.
Located at 611 Veterans Ave., the property was renovated in 2015 and 2017 into a mixed-use building with 129 apartment units and 45,748 square feet of ground-floor commercial space.
It was formerly home to The West Bend Company, a cookware and appliance manufacturing-based business, which occupied the site since 1911.
Current commercial tenants include Kettle Moraine YMCA, West Bend Pediatrics-Children’s Wisconsin and the West Bend Area Chamber of Commerce, along with restaurants Café Floriana and The Grün Hexe Kitchen & Catering.
The sale of the property was announced Friday by commercial real estate firm
CBRE, which arranged the sale. The buyer was a partnership of local buyers, a press release said.
“Hendricks did a phenomenal job creating Cast Iron Luxury Living as the bellwether of high-end multifamily units in West Bend that consistently maintains nearly 100% occupancy,” said
Matson Holbrook, first vice president at CBRE. “The market certainly took notice, and our CBRE team is extremely pleased by the outcome of this transaction.”
