Real estate deals of the week

Alpha Source Investments LLC purchased a 41,545-square-foot industrial building at 6619 W. Calumet Road, Milwaukee, from JT Investments LLC. Scott Furmanski of CB Richard Ellis represented JT Investments, Jim Babiasz and Dan Linder of The Boerke Company represented Alpha Source in brokering the deal. The property has an assessed value of $1,529,300, according to city records. The sale price was not disclosed. Alpha Source will move its operations from 12104 W. Carmen Ave., Milwaukee, to the Calumet Road building, which is currently vacant, Babiasz said. "They have just outgrown their current facility," he said. "People are sitting on top of people and the phone is ringing off the hook." The company distributes medical equipment products, including batteries.

Cecillia Boland recently purchased the 25,000-square-foot former Cream City Brewery stables building at 1523-51 N. 13th St., Milwaukee, from David E. Phelps and Dawn Boland for $300,000. The sale price is well above the property’s assessed value of $113,000, according to city records. The structure, built in 1910, was originally used to stable brewery wagon horses for Cream City Brewery. James Benz and Michael Seramur of Ogden & Company Inc. brokered the transaction for the buyer and the sellers. "The new owner needs warehouse space and will be restoring the building," Seramur said. "It’s a neat building, across the freeway from (the former) Pabst (brewery property)." 

Milwaukee-based Action Property Management recently purchased the 270-unit Brookside Apartments complex at 1102 Brookside Drive and 501 11th Avenue in Grafton from Robert A. Schroeder of Cedarburg. The sale price was not disclosed. Schroeder was represented by Gordy Welch and Jack Arnett of Siegel-Gallagher in brokering the sale.





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