The Central Steel & Wire facility at 4343 S. 6th St. in Milwaukee has been sold to Alro Steel for $7.1 million, according to state records.
The 10-acre property, which included a 108,000-square-foot building built in 1956, was assessed at $2.9 million, according to city records.
Central Steel & Wire, a metal service center with six locations around the country, was acquired last year by Chicago-based Ryerson Holding Co. for $163.5 million.
Ryerson already had a Milwaukee location at 500 S. 88th St. and has moved Central Steel & Wire operations there since the acquisition closed, according to the CS&W website.
Ryerson did not immediately respond to requests for comment. In announcing its third quarter earnings, Ryerson said it was evaluating its assets in the Midwest. The company planned to receive around $10.5 million in aggregate proceeds by selling two unidentified CS&W facilities where operations were being consolidated into existing Ryerson locations.
Michigan-based Alro Steel, a distributor of metals, industrial supplies and plastics, also did not respond to requests for comment. The company already has a facility at 3000 N. 114th St. in Wauwatosa that is part of its metals division.