Wisconsin Metal Parts, a Waukesha-based custom manufacturer of machined components and metal parts, recently purchased a 47,500-square-foot building at 1801-05 Pewaukee Road, Waukesha, for $2.6 million.
Brett Garceau of NAI MLG Commercial represented Wisconsin Metal Parts and John Schlueter of Frontline Commerical Real Estate represented the seller, 1801 Pewaukee LLC.
With the addition of this building, Wisconsin Metal Parts now owns three buildings with a total of 100,000 square feet of space, Garceau said.
The company will occupy 27,000 square feet of space in the Pewaukee Road building and the rest of the building is occupied by an existing tenant with a long term lease.
“This was an off the market transaction, which is further testament to depleted supply and strength in the industrial real estate market, specifically within Waukesha County, which is at a 3.8 percent vacancy rate,” Garceau said. “We explored all available on the market opportunities and were forced to dig in and get creative, which is how we uncovered this opportunity with (Schlueter).”