The recently-opened 200,000-square-foot FedEx distribution center in Menomonee Falls has been sold to a Phoenix, Ariz.-based real estate investment group for $19.9 million.
Cole Capital purchased the facility at N96 W14849 County Line Road from Madison-based Ruedebusch Development and Construction last week, according to state records.
The building is assessed by Waukesha County at $7.9 million.
In October, FedEx Group, the small-package ground delivery unit of FedEx Corp., opened the distribution center on the property. The building has 194,325-square-feet of distribution area and an 8,625 square-foot office space area.