J&D Turf Leases Space in New Berlin Industrial Park

The Barry Company represents Tenant in transaction

J&D Turf has leased 7,500 square feet of industrial space at 2469 S. 170th Street, New Berlin, Wis.  The New Berlin Industrial Park Building is owned by GTR Holdings LLC.

David Barry of The Barry Company represented the tenant in the transaction.

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

The Barry Company Wins Deal of the Year Awards

Company receives win in industrial category and runner-up in development category

The Barry Company, a leading southeast Wisconsin commercial real estate company headquartered in downtown Milwaukee won the “Industrial Deal of the Year” award and was runner-up for the “Development Deal of the Year” award, which were presented at the 2018 Commercial Association of Realtors of Wisconsin (CARW) Deal of the Year Awards and Annual Meeting last night at the Grain Exchange, Milwaukee. The event honored 2018’s most notable professionals and transactions in Southeast Wisconsin commercial real estate.

David Buckley, Kevin Barry, CCIM, Kurt Van Dyke, CCIM, SIOR and Jim Barry III, CCIM won the Industrial Deal of the Year award for their involvement in Blast Cleaning Technologies’ lease of 127,000 square feet in the former Allis Chalmers facility at 6682 W. Greenfield Avenue, West Allis, Wis. The transaction was one of the largest industrial lease deals in Wisconsin in 2018 and included economic incentives and loan programs, as well as a tenant investment of over $2M to upgrade the older industrial space to modern standards.

David Barry, CCIM, SIOR and Kevin Barry, CCIM were runner-up for the Development Deal of the Year award for selling the 3.1 acre former Saint Francis Borgia school and rectory site in Cedarburg, Wis. to HSI Arrabelle, LLC. The site will be developed into a $16M residential campus featuring 3-story apartment buildings and 2-story townhomes.
Since the inception of the Deal of the Year award by CARW, The Barry Company has won 17 times, and has been honored as runner-up on multiple occasions.

About The Barry Company

The Barry Company, a 97-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won six awards from the Commercial Association of Realtors-Wisconsin in the past five years, and 17 awards since the inception of the event. The company has also received three consecutive Best Deal/Lease of the Year awards from The Business Journal.

Lake Country Condo Sold

The Barry Company brokers transaction

H. Niedecken & Company, LLC has purchased the 2,400 square foot warehouse unit located at W300N7672 Christine Lane, Town of Merton, Wis. from Twin Caves LLC.

Maximilian Yokosh, a broker at The Barry Company was the exclusive agent on the transaction.

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Sontay LLC sells its Jackson, Wis. industrial facility

The Barry Company represents Seller in transaction

Sontay LLC has sold its 18,400 square foot building located at W209N17391 Industrial Drive, Jackson, Wis. for $1,060,000.

The property was purchased by RAJA Investments LLC/United Environmental Manufacturing Supply, Inc., a leader in pipeline maintenance and inspection systems.  UEMSI will utilize the space for expansion of its operations.

“Sontay LLC will be consolidating operations to their Menomonee Valley location,” according to David Buckley of The Barry Company, who represented the seller in the transaction.

For more details on this transaction, read the story of the Milwaukee Business Journal HERE.

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

“Norway House” building in Milwaukee sold

The Barry Company represents Seller in transaction

Sons of Norway has sold its 8,100 square foot “Norway House” banquet hall located at 7507 W. Oklahoma Ave., Milwaukee, Wis.

The facility was sold Buenavista Banquet Hall LLC who will continue to use the facility as a banquet hall for weddings, birthday parties and other events.  “They already have an event scheduled in two weeks,” said Pete Slezak of The Barry Company.  Slezak represented the seller, Norway House, in the transaction.  He added that Norway House is moving to a smaller leased space.

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Milwaukee industrial real estate market remains healthy

The Milwaukee industrial market yet again experienced a robust quarter during Q2 of 2018. This healthy market is exemplified by a vacancy rate of 3.9%, which is considerably lower than the national average of 4.9%. This strong market is evidenced by other metrics:

Net absorption for the quarter was 768,350 square feet, an improvement of nearly 500,000 square feet from the previous quarter. The catalyst for this turnaround was an increase in industrial space occupied by new users entering the market or current users expanding their space within the market. There was just one speculative industrial property coming online at the end of quarter, delivering 307,850 square feet in Racine County. In future quarters, the Milwaukee industrial market will see a higher rate of deliveries due to 921,673 square feet currently under construction, with several additional projects breaking ground next quarter.

Average asking rents in the Milwaukee industrial market ended the quarter at roughly $4.50 per square foot when averaging all subcategories of space. Available flex space in this market currently averages an asking rate of $6.79 per square foot, whereas warehouse/distribution space averages $4.40 and manufacturing space averages $4.08 when including properties that are proposed or under construction.

The Foxconn effect on the industrial market in the Milwaukee area cannot be understated. As mentioned in our previous quarterly report, the prospect of the Racine County industrial market doubling in size is not farfetched, as there is over 8.25 million square feet of industrial space either already under construction or proposed as of the end of Q2. This effect, along with rising land prices close to the interstate intensifies the demand for industrial space along the I-94 south corridor.

Metro Milwaukee is currently experiencing favorable growth in its economy. The strong market for jobs can be seen with year over year job growth beating the national average. Annual job growth for the region was up by 11 basis points from Q2 2017 to Q2 2018, maintaining a relatively low rate unemployment rate of 2.7% in the Metro-Milwaukee area. Combine this with a business-friendly government and the renewed interest of national developers and the stage is set for continued strength in the industrial real estate market.

DOWNLOAD THE FULL REPORT HERE:  The Barry Bulletin – Industrial Q2 2018

Norco Manufacturing building in Racine County sold

The Barry Company represents Seller in transaction

Norco Manufacturing has sold its 37,605 square foot industrial building located at 2713 Nicholas Road, Franksville, Wis. to Chicago-based Imperial Group.

Featuring multiple cranes, reinforced concrete floors and an ideal location in the I-94 corridor, just north of the Foxconn development area, Imperial Group will utilize the facility for its scrap metal recycling and processing business.

The Nicholas Road facility formerly housed the operations of Norco Manufacturing, which recently expanded into a newly constructed 124,000 square foot industrial facility a mile away in the new DeBack farms Industrial Park in Caledonia, Wis.

David Buckley and Kevin Barry, CCIM represented Norco Manufacturing in the transaction.

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Screen printing company purchases Northwest Milwaukee industrial property

The Barry Company brokers transaction

La Macchia Real Estate III LLC has sold the 24,090 square foot industrial property located at 9240 N. 107^th Street, Milwaukee to KP Clark Enterprises, LLC.

KP Clark Enterprises, operating as Waterstreet Specialty, offers a wide variety of screen printed and specialty glass decorated logos on a variety of items.  The company currently leases space at an industrial facility in Wauwatosa, Wis.

David Barry, CCIM, SIOR of The Barry Company was the exclusive broker on the transaction..

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Northwest Milwaukee Industrial Property Sold

The Barry Company represents Seller in transaction

Private investor JW2 Properties, LLC has sold its 7,900 square foot industrial building located at 11920 W. Carmen Ave., Milwaukee to Rusty Realty LLC.

The buyer, operating as Untouchable Auto & Diesel, will use the property for its truck and auto repair business.  The business is expanding from its current location in Richfield, Wis.

“The building’s large 1.43 acre lot and convenient location near Hwy. 45 & Silver Spring Dr. fit the buyer’s business well,” said Kurt Van Dyke, senior vice president of The Barry Company.  Van Dyke represented JW2 in the transaction..

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Chicago-area electrical contractor purchases building near Foxconn development area

The Barry Company represents Seller in transaction

CPV, LLC has sold its 11,800 square foot light industrial/commercial building located at 4325 S. 27^th St., Franksville, Wis. to Arlington Heights, Ill.-based Gurtz Electric Co.

The Racine county property features 290 feet of I-94 frontage in the rapidly evolving I-94 corridor, just north of the Foxconn development area.

Custom Painted Vehicles, a family owned and operated Wisconsin company, grew from its 27^th St. facility to a neighboring 33,150 square foot property at 4234 Courtney Road., Franksville.

David Barry, CCIM, SIOR of The Barry Company represented CPV, LLC in the transaction..

About The Barry Company

The Barry Company, a 96-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.