An office building on Innovation Drive in Wauwatosa has been sold for $8 million, according to state records.
The building known as Innovation Point, located 10400 Innovation Drive, was purchased by Innovation Point II LLC. The LLC is registered to Rupesh Agrawal, chief executive officer of Wauwatosa-based Amla Commerce.
It was purchased from 10400 Innovation LLC.
The 51,651-square-foot building was constructed in 2002, according to a listing on LoopNet. It was acquired for a little more than its assessed value of $7.67 million, according to Milwaukee County records.
Agrawal could not immediately be reached for comment on the transaction.
Amla Commerce is the parent company of two e-commerce software companies, ArtifiLabs and Znode. Located at 1225 Discovery Parkway, the firm is about 1.5 miles from the office building purchased by Agrawal.
Another Milwaukee-based company run by Agrawal, Zeon Solutions Inc., was acquired by St. Louis-based Perficient Inc. for about $35.7 million in 2015.