A Skokie, Illinois-based private real estate investment firm has purchased a medical center in Fox Point for $3.95 million, according to state records.
[caption id="attachment_355090" align="alignright" width="387"] The 15,600-square-foot medical building at 7950 N. Port Washington Road. (Photo: Children's Hospital of Wisconsin)[/caption]
Stage Equity Partners, LLC purchased the 15,600-square-foot building at 7950 N. Port Washington Road from Milwaukee-based Weas Development.
The medical center’s tenants include Children’s Hospital of Wisconsin and Advanced Pain Management.
“We like the location,” said Russell Brenner, partner of Stage Equity Partners. “It’s our second building in the suburban Milwaukee area so it fits nicely within our portfolio. Our intention is to hold it and manage it and enjoy a nice relationship with its existing tenants."
"It’s our intention to increase the size of our portfolio in Milwaukee," he added. "This is the second of what we hope will be many more (buildings).”
Weas developed the medical center in 2000. The property has an assessed value of $1.3 million, according to village records.