Last updated on May 13th, 2019 at 02:33 pm
Joseph C. Mrazek Sr., president of Racine-based Midwest-Interstate Realty Corp., and Frank Rosselli, president of facilities for Midwest-Interstate, are purchasing an 111,212-square-foot clinic in Racine and converting it into a medical office building. Mrazek and Rosselli acquired the building at 2405 Northwestern Ave. in November in a lease-to-purchase agreement from a group of physicians. They expect to close on the acquisition in April or May. They declined to disclose the purchase price for the building, which is now called the Northwestern Medical Center.
The facility was built in 1960, and Mrazek and Rosselli are spending $400,000 to $500,000 to improve the facility. The upgrades will include new paint, carpeting, signage, lighting and landscaping. The work is already under way and will be completed in May or June.
"It’s our intent to change the way the building operates from a group practice to a medical arts building," said Roger Lacock, administrative director for the Northwestern Medical Center. "Our whole principal here is to revitalize this building to deliver the quality of care it did in the past with a little different modality."
The facility will have up to 25 suites, which physicians can lease.
"We can lease out anywhere from 1,000 to 5,000 square feet of space," Lacock said.
Two physicians already are occupying a 5,000-square-foot suite, which is the first to be renovated. Mrazek and Rosselli also have commitments from a pharmacy and a physical therapy provider. The pharmacy will have a drive-thru lane.
"We just want to give people options and make sure people have a good place to practice medicine," Lacock said. "I think a lot of people in Racine would like to go to a doctor’s office in a centralized location that isn’t part of a big practice."
Mrazek said he wanted to buy the building, in part, to protect his investment in three buildings located across Northwestern Avenue (Highway 38) from the medical center in the former Horlick Malted Milk Co. Mrazek said he is planning to restore the 250,000 square feet of office and industrial space in the old, brick buildings by converting them into a mixed-use facility. The project will be similar to the restoration of the former Schlitz Brewery complex in Milwaukee and the former Allis Chalmers industrial complex in West Allis, he said.
Mrazek wanted to make sure the medical center building was well-maintained to help uphold the quality of the neighborhood.
"We wanted to make sure that whole district has a lot of integrity," he said.
Renovations are nearly complete on the first and second floors of the 10,000-square-foot building owned by Dermond Associates at 757 N. Water St. in downtown Milwaukee. The company, an investors group, will have its offices in the second floor of the building, said Eric Dermond, one of the firm’s owners. Attorney Richard Check’s law office is on the third floor of the building. Dermond Associates is still seeking a tenant for the 4,000-square-foot first floor of the building, which is about 100 years old, Dermond said. "A few people in the restaurant business are looking at it," Dermond said. "It could be a bank, it could be a lot of different applications."
Shorewest Realtors recently expanded its New Berlin office at 3580 S. Moorland Road by adding 2,800 square feet of space and bringing the office’s total size up to 9,200 square feet.
David’s Bridal recently opened a store at 5050 S. 74th St., in the Greenfield Place Shopping Center. The store is the 241st location in the nation and the sixth in the state for David’s Bridal.
James Bronson, owner of the Athlete’s Foot store at Bayshore Mall in Glendale, plans to move his store from the mall to the RiverPoint Village Shopping Center in Fox Point. Bronson told village officials he must move out of Bayshore by March 18. He plans to open at RiverPoint Village by March 1.
Circuit City plans to move from its current location at 18550 W. Blue Mound Road to Fountain Square, a retail development under construction along Blue Mound Road just north of Brookfield Square Mall. Babies "R" Us will move into the current Circuit City location. Babies "R" Us is a baby products specialty store chain owned by Wayne, N.J.-based Toys "R" Us Inc., with 211 locations in the United States, but none in the Milwaukee area.
Froedtert & Community Health plans to open a medical clinic and physical therapy center in a 17,000-square-foot former Osco Drug store at 13980 W. Greenfield Ave. The store has been vacant for about 1 1/2 years said Mike Theis, Brookfield planning administrator.
Lemon Grass, a Chinese restaurant, will occupy 2,726 square feet, and Gold-N-Tan & Travel LLC, a tanning salon and travel agency, will occupy 3,120 square feet at Summit Centre Marketplace, a 27,500-square-foot strip mall that is under construction at Highway 67 and Summit Avenue.
Advance Auto Parts plans to build a store at 861 E. Wisconsin Ave. The property must be annexed into the City of Oconomowoc, and some storage buildings on the property must be demolished to make way for the store. Roanoke,Va.-based Advance Auto Parts has more than 2,600 stores in 39 states, Puerto Rico and the Virgin Islands.
Lakeland Corp., a Town of Saukville-based trucking and scrap metal company, plans to move its trucking operation to a vacant 15,000-square-foot industrial building at 600 S. Park St., Port Washington. The Port Washington building was formerly occupied by Track International. Lakeland also plans to use the Port Washington facility for storing freight, said William Ciriacks Jr., transportation manager for Lakeland Corp. "We’re outgrowing our (Saukville) space," Ciriacks said. "It’s a lot bigger building for being able to put our trucks inside."
Domino’s plans to open a pizza restaurant at 1256 Capitol Drive.
Power Sports Network plans to build a 10,000-square-foot office building on North Corporate Circle in the Sussex Corporate Center. The company, currently located in at 1166 Quail Court in Pewaukee, develops Web pages for power sports companies.
New company brokers first deals
David Lange, a former Apex Commercial and NAI MLG Commercial broker, formed Brookfield-based Commercial Investment Partners in September and recently completed the first deals with his new company. A partnership from Milwaukee represented by Lange paid $4.2 million for a 200,336-square-foot distribution facility in Ashwaubenon, which the partnership bought from a Green Bay-area investor. Lange also represented another investor in signing Ashley Furniture and Gordmans to lease a 105,000-square-foot retail building in Grand Chute, near Appleton, which is owned by Lange’s client.
Andrew Weiland is the managing editor of Small Business Times. Send news about commercial real estate to Andrew.firstname.lastname@example.org or by calling him at (414) 277-8181 ext. 120. News can also be sent to Andrew Weiland, Small Business Times, 1123 N. Water St., Milwaukee, WI 53202.
real estate transactions
4041 Kenilworth LLC has leased 31,758 square feet of industrial space at 4041 N. Richards St., Milwaukee, from 4041 Richards LLC.
Pressed Steel Tank Co. Inc. has leased 120,000 square feet of industrial space at 3522 N. 35th St., Milwaukee, from Murphy Real Estate LLC.
Tadych Furniture Inc. has leased 6,640 square feet of industrial space at 5831A S. Pennsylvania Ave., Cudahy, from Hansen Storage Company.
Center Stage Attractions Inc. has leased 3,067 square feet of space at W226 N555 Eastmound Drive, Pewaukee, from Pewaukee Partners LLC.
Chisholm Industries Inc. has leased 9,000 square feet of space at 4601 W. Woolworth Ave., Mlwauke, from Van Brothers III LLC.
Grubb & Ellis/Boerke Company
Triathlon World LLC has leased 1,400 square feet of retail space at 7435 117th Ave., Kenosha, from Grand Enterprises LLC.
Ace Distribution Services Inc., which has leased 154,381 square feet at 9053 N. Deerbrook Trail, Brown Deer, since 1995, expanded its operations into an additional 31,040 square feet of space. The property is in the Brown Deer Business Park, owned by HSA Commercial.
Dynal-Biotech LLC expanded into an additional 18,244 square feet of space at 9099 N. Deerbrook Trail, Brown Deer, to increase its total leased space there to 44,066 square feet. The property is in the Brown Deer Business Park, owned by HSA Commercial.
BBJ Rentals LLC renewed its lease for 2,078 square feet of space at 9060 N. Deerbrook Trail, Brown Deer. The property is in the Brown Deer Business Park, owned by HSA Commercial.
BDP International Inc. has leased 2,613 square feet of office space at the Mitchell International Airport Atrium, 5007 S. Howell Ave., Milwaukee.
AXA Advisors has leased 2,463 square feet of office space at the Milwaukee Center, 111 E. Kilbourn Ave., Milwaukee.
Rausch, Sturm, Israel & Hornik S.C. has leased 3,924 square feet of office space at 2448 S. 102nd
St., West Allis.
Premier Medical Staffing Services LLC has leased 1,857 square feet of office space at Lincoln Center II at 2514 S. 102nd St., West Allis.
West Star Title Services LLC has leased 1,661 square feet of office space at Executive Center VI, at 400 N. Executive Dr., Brookfield.
NAI MLG Commercial
Shape Xpress has leased 2,500 square feet of space at 11649 N. Port Washington Road, Mequon, from Lexington Squaure LLP.
Wangard Partners Inc.
A Whole Lotta Country has leased 1,705 square feet of retail space in the Prairie Creek Shoppes at 1300 Brown St., Oconomowoc, from Prairie Creek Shoppes LLC.
Cheri Nails III has leased 2,000 square feet of retail space at 1420 Summit Ave., Oconomowoc, from Unisource Centres LLC.
James T. Barry Company Inc.
B&K Property Associates have purchased a 2,000-square-foot commercial/storage property at 632 S. 94th Place, West Allis, from Bradley and Joanne Cook-Aldridge. B&K plans to lease out the property. Bradley and Joanne have consolidated their business operations (Cook Speciality Co. Inc.) to a 26,000-square-foot building that James T. Barry Company recently sold to them.
The Mandel Group has purchased the 14,000-square-foot Masonic Lodge at 7800 W. Green Bay Ave., Glendale. The Masonic Lodge is relocating and the Mandel Group plans to build 34 condominiums at the Green Bay Avenue location.
Weymier & Weymier LLC has purchased 7,260 square feet at N57 W13302 Reichert Ave., Menomonee Falls, from Dennis and Geraldine Hall. The sale price was $350,000.
Mark and Kimberly Rasmussen have purchased a one acre parcel of land at Highway 175 and Weil Drive in Jackson.
HMB Contractors have purchased a 19,551-square-foot warehouse building at N91 W13906 Warren St.
Wangard Partners Inc.
Schlafbrunnen Properties LLC, (a.k.a. Sleepwellness Inc.) has purchased a 20,000-square-foot office building at 2356 S. 102nd St., West Allis, from Thomas and Helen Ferderbar & TF Dissolution.
Resnick & Yamat S.C., a law firm that concentrates on probate and guardianship issues, received a $235,600 MEDC loan and $353,400 in other financing to buy a commercial condominium at 400 N. Broadway, Suite #102.
BG Acquisition LLC received a $300,000 MEDC loan and $726,000 in other financing. Steven J. Janke is purchasing the assets and trade name of the firm, which is a manufacturer of gear and worm used by OEMs that produce fractional motors. He plans to add two employees to the company’s workforce.
Pressed Steel Tank Co. Inc., a wholly owned subsidiary of APCO Inc., received a $500,000 MEDC loan and $4.83 million in other financing. The firm is moving its operations from 1445 S. 66th St. in West Allis to 3522 N. 35th St. in the Tower Automotive complex in Milwaukee. The move will give the firm an opportunity to reduce overhead costs. Pressed Steel Tank will be downsizing its physical facility from 270,000 square feet to 120,000 square feet. The company, which designs and manufactures seamless steel tanks, has 50 employees and plans to add 15 more.
Climatic Control Company Inc. received a $372,000 MEDC loan and $558,000 in other financing. The company plans to purchase the building where it leases space at 5061 W. State St. The firm has 45 employees and plans to add three more.
Selzer-Ornst Company, Wauwatosa, was selected to complete several renovation projects at the Mayfair Professional Building. The project includes the remodeling of all lobbies and corridors from the 2nd through the 6th floor. New flooring, wall tile, wall covering, carpet, patin, celings and lighting will be added. Quorum Architects is the architect for the project.
Total Team Construction LLC, Brookfield, has completed the contract to provide construction management services for the Village of Menomonee Falls police trailer renovation at N66 W17550 Mill Road.
Inland Companies, Milwaukee, recently completed construction for a 19,000-square-foot office, warehouse and showroom for Lennox Industries at 3930 W. Burnham, Milwaukee, in the Stadium Business Park. Inland also completed construction on a 13,000-square-foot office and warehouse for Illco Inc. at 3934 W. Burnham and a 5,600-square-foot computer training facility for Tech Skills at 400 N. Executive Dr., Brookfield.
February 4, 2005, Small Business Times, Milwaukee, WI