A Pewaukee-based commercial real estate firm purchased a 50,000-square-foot office building in New Berlin for $2.1 million and will lease the property to two new tenants.
[caption id="attachment_160354" align="alignright" width="318"] 16680 W. Cleveland Ave., New Berlin[/caption]
Ring Neck Ventures LLC purchased the building at 16680 W. Cleveland Ave., and will lease it to Capital Electric Wire and Cable, W231 N2840 Roundy Cir E, Pewaukee, and Waukesha-based Interstate Roof Systems Consultants.
Ring Neck Ventures LLC is registered to Matthew Quest, principal of Capital Commercial, which also represented both companies in the transaction.
Capital Electric and Interstate Roof will occupy the building after extensive interior and exterior improvements, Quest said. Capital Commercial does not own the building. The separate LLC, Ring Neck Ventures is the owner, Quest said.
The building was formerly occupied by Mexican Accent, which closed its operation in 2016.
“The real estate partnership we developed for Capital Electric Wire and Cable and Interstate Roof Systems Consultants will position both companies for future growth and expansion along with revenue generating opportunities,” Quest said. “The new ownership group is excited to invest in improvements to the property, further enhancing both the exterior and interior spaces for their businesses and tenants.”
Capital Electric Wire and Cable will take occupancy beginning May 1, following extensive external and internal renovations to create an updated working environment for its associates.
Interstate Roof Systems Consultants have moved into the property and are operating as of the beginning of the year, Quest said.