Three southeastern Wisconsin companies were part of a 13-property portfolio sale totaling $110 million and 2.7 million square feet of single-tenant industrial properties.
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2855 S. James Drive. Photo by LoopNet.[/caption]
Minnesota-based Wildamere Capital Management
sold 11 of the properties, totaling $2.5 million square feet to Chicago-based Brennan Investment Group
and the company’s capital partner Arch Street Capital, of Connecticut. The additional two properties were purchased by tenants.
Locally, two New Berlin office buildings were sold: 5000 S. Towne Drive for $9.3 million and 2855 S. James Drive for $5.2 million.
In 2006, a subsidiary of Wildamere Capital Management purchased the two New Berlin buildings for a total of $28.6 million. They were part of a larger 13-portfolio transaction between the company and Dallas-based NL Ventures for $150 million.
The property at 5000 S. Towne Drive is the global headquarters for GMR Marketing. It has an assessed value of $10.4 million, according to county records.
The property at 2855 S. James Dr. has an assessed value of $8.1 million, according to county records.
A property at 3545 Nicholson Road in Frankesville also sold for an undisclosed price.
Colliers International, Minneapolis-St. Paul assisted in the deal.
The other properties in the portfolio were located in Minnesota, Michigan, Indiana, Ohio, Pennsylvania, Idaho, North Carolina, Alabama, and Florida.
Tenants currently occupying space in those properties include Tesla, Johnson & Johnson, Bluestem and Leedsworld.