An affiliate of Kenosha-based
Bear Real Estate Group purchased a Pewaukee office building for $6.2 million, according to state records.
Mills Hotel Wyoming, LLC purchased the 56,086-square-foot one-story office building from Chicago-based
First Industrial Realty Trust, Inc. The property, which sits on 4.8 acres, is assessed at $3 million by Waukesha County.
The building is occupied by
Waterstone Mortgage Corp., a wholly owned subsidiary of Wauwatosa-based
Waterstone Bank SSB.
Bear Development president S.R. Mills, could not immediately be reached for comment.
Doug Gordon, president and CEO of Waterstone Bank, said the mortgage company still has eight years left on its lease and there are no changes planned at this time.
First Industrial Realty TrustÂ
closed its Milwaukee area office in 2009 after five years in operations and has gradually been selling its properties in the area.
Earlier this month, Commerce Drive Holdings LLC
purchased a warehouse at 2485 S. Commerce Drive, New Berlin from
First Industrial Realty Trust for $3.5 million.
