Madison-based Sara Investment Real Estate LLC announced that it has purchased the 132,401-square-foot Fair Park Business Center, located at 620 S. 76th St. in West Allis, across the street from State Fair Park.
The multi-tenant office building was formerly the service and training center for We Energies. It now houses a variety to tenants, including Children’s (Hospital) Service Society of Wisconsin.
“The Fair Park Business Center is a great addition to our Milwaukee-area holdings,” said Traci Dalsin, president of Sara Investment Real Estate. “Located minutes from I-94, the building provides a fantastic location for a quality mix of tenants, making it a strong investment opportunity.”
The sale price was not disclosed.
Sara Investment Real Estate has been active in recent years in acquiring commercial real estate assets in the Milwaukee area. An affiliate of the firm acquired most of The Tannery office complex in Milwaukee last year for $16.8 million and is building a 75,000-square-foot industrial building in Mukwonago for Gearbox Express. In 2013 Sara Investment Real Estate acquired the headquarters for Great Lakes Packaging Corp. in Germantown for $8 million, and bought Squires III Office Center building in Pewaukee for $4.35 million.
“We will continue to seek opportunities in Wisconsin and throughout the Midwest that match our investors’ real estate investment goals,” said Ben Adank, vice president of development for Sara Investment Real Estate.