United Heartland building in New Berlin sold for $14.7 million

Insurance company will remain a tenant

15200 West Small Road

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

United Heartland’s headquarters office building in New Berlin has been sold to an Atlanta-based real estate investment firm for $14.7 million, according to state records.

15200 West Small Road. Photo from Google.

An affiliate of Stonemont Financial Group purchased the 56,014-square-foot building at 15200 West Small Road from Chicago-based Oak Street Real Estate Capital.

The property is located on 8.49 acres east of S. Moorland Road, near the Marcus Ridge Cinema and Stonefire Pizza Co. It has an assessed value of $7.9 million, according to Waukesha County records.

The building is 100 percent occupied by United Heartland, a workers compensation insurance company.

Milwaukee-based developer Irgens, which built the building in 2009 and sold the property to Oak Street in 2013 for $12.8 million. At the time, United Heartland had 11 years left on its lease.

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