Real estate deals of the week

Developer buying two more prominent Pabst brewery buildings
Oregon, Wis.-based Gorman and Company Inc., which is already redeveloping the former Keg House at the former Pabst brewery complex in downtown Milwaukee, announced that it has two more buildings in the brewery complex under contract. Gorman is purchasing the former Brew House and Mill House buildings in the Pabst complex from Joseph Zilber. The sale is scheduled to close near the end of the year.

Gorman plans to convert the buildings to apartments and commercial space for restaurant, retail and office uses.

The 116-year-old, four-story, 39,213-square-foot Brew House building features several large copper brew kettles. It is located adjacent to the 117-year-old, four-story, 34,435-square-foot Mill House. The two buildings are located at the northwest corner of West Juneau Avenue and North 10th Street.

"We intend to take advantage of the spectacular atrium in the Brew House building and we’re exploring other creative and innovative uses of this wonderful historic space," said Chris Laurent, Wisconsin market president of Gorman & Company. "We plan to preserve the kettles on the second floor of the Brew House in some way within the development. The views offered of the rest of this new neighborhood and downtown Milwaukee are tremendous."

In May, Gorman & Company purchased the 150,000-square-foot Keg House and is converting it into an apartment building called Blue Ribbon Lofts.

"Early response to our Blue Ribbon Lofts has been so phenomenal that we wanted to continue to work with the challenge of two more historic buildings in this great project," said Gorman & Company president Gary Gorman.

Zilber, the founder of Milwaukee-based Zilber Ltd., is redeveloping the 20-acre brewery complex into a mixed-use neighborhood and is selling buildings in the complex to other developers.

"We have been extremely impressed with their work on the Keg building and are very excited that they will purchase two of the most historically significant buildings in The Brewery complex," Zilber said.

Grafton industrial building sold
McGourthy Brothers LLC
purchased a 42,242-square-foot industrial building at 704 10th Ave., Grafton, from JMC Holdings LLC for $750,000. Bob Flood of RFP Commercial represented the buyer and Sam Dickman Jr. of the Dickman Company represented the seller in brokering the sale.

 

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