Illinois-based investor Venture One Real Estate
has sold two industrial buildings in southeastern Wisconsin for a combined $26.2 million.
They include the 47,932-square-foot Lake View Corporate Center building at 10550 86th Ave. in Pleasant Prairie, which sold for roughly $16.5 million, and a 151,474-square-foot facility and 23.5 acres of developable land at 3535 Oakes Road in the village of Mount Pleasant that sold for $9.55 million, according to state records.
Iron Mountain Refrigeration & Equipment
is a tenant at the Lake View Corporate Center building.
The buyer of the two properties is a limited liability company affiliated with New York City-based DRA Advisors
. The property investor owns 171,366 square feet of retail space in Wisconsin, according to its website, but this is its first industrial acquisition in the state. The company owns more than 52.2 million square feet of industrial space across the country.
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Industrial building at 3535 Oakes Road in Mount Pleasant. (Photo courtesy of Loopnet.com)[/caption]