Zilber sells two area buildings to Minnesota firm for $12.7 million

Milwaukee-based Zilber Ltd. recently sold a pair of industrial buildings in the Milwaukee area to Minneapolis-based Founders Properties LLC for $12.7 million, according to state records.

Founders Properties is a privately held company formed by Best Buy founder Richard M. Schulze and The Opus Group founder Gerald Rauenhorst.

Founders Properties bought a 120,000-square-foot building at 7475 S. 6th St. in Oak Creek from Zilber Ltd. for $7.6 million. The building is occupied by Independence Corrugated. Zilber Ltd. bought the building in 2012 from New York-based Torchlight Investors for about $5 million, according to state records.

Founders Properties also bought a 78,000-square-foot building at 555 W. Estabrook Blvd., Glendale, from Zilber Ltd. for $5.1 million. The building is occupied by Forrer Business Interiors. Zilber Ltd. also bought that building in 2012 from Torchlight Investors, for $4.53 million, according to state records.

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