Three Milwaukee-area properties included in $100 million, 11-building acquisition

Properties located in New Berlin, Franksville

2855 S. James Drive, New Berlin

Last updated on May 15th, 2019 at 04:55 pm

Two out-of-state real estate investment firms have completed a $100 million, 11-building industrial portfolio acquisition that included three southeastern Wisconsin properties.

2855 S. James Drive, New Berlin

Chicago-based Brennan Investment Group and Greenwich, Connecticut-based Arch Street Capital Advisors, LLC purchased the portfolio located in eight states, totaling 2.5 million square feet.

Locally, the properties sold were:

  • 5000 S. Towne Drive, New Berlin: 74,000 square feet. The property owner listed is Minnetonka, Minnesota-based. Assessed value: $10.4 million
  • 2855 S. James Drive, New Berlin: 86,204 square feet. The property owner listed is James Luterbach of New Berlin. Assessed value: $4.6 million
  • 3545 Nicholson Road, Franksville, 136,086 square feet. No further information available.

Brennan Investment Group and Arch Street also purchased properties in Chicago, Pittsburgh, Birmingham, Grand Rapids, Jacksonville, and Minneapolis

Since 2011, through multiple ventures, Brennan and Arch Street have acquired more than $1 billion of single tenant, net leased, industrial properties.

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