Founders Properties, L.L.C., a Minneapolis-based real estate investment firm purchased a 105,637-square-foot industrial building in Pleasant Prairie for $5.28 million, according to state records.
The Minnetonka, Minn.-based company bought the property from MLRP 8901 102nd LLC, of Itasca, Ill. Founders Properties is a privately held company formed by Best Buy founder Richard Schulze and The Opus Group founder Gerald Rauenhorst.
The industrial warehouse was built in 1989 and is located on 8 acres at 8901 102nd St. in the LakeView Corporate Park. The building is 100 percent leased and current tenants include Hanna Cylinders and Reunion Industries Inc.
Founders also owns investment properties in Mequon, Oak Creek Glendale and the 155,844-square-foot speculative building
The Opus Group completed in October in the Mount Pleasant Business Park.