HSI Completes Purchase of former Saint Francis Borgia School Site for New Residential Development

The Barry Company brokers the transaction

HSI Arrabelle, LLC has purchased the Peter Sciortino’s Bakery has purchased the 3.1 acre site located on Hamilton Road, just west of Washington Ave., Cedarburg, Wis. from Saint Francis Borgia Congregation.

The property includes five separate tax parcels with two buildings that housed the former school and rectory of Saint Francis Borgia Catholic Church.  The buildings will be demolished to make room for a $16 million residential development feature two 3-story apartment buildings and a 2-story townhome building.

Kevin Barry, CCIM and David Barry, CCIM, SIOR of The Barry Company brokered 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.

Jelly Belly Candy Company seeks tenant for approximately 100,000 square feet of its warehouse space

The Barry Company is engaged as leasing representative

The Barry Company announced today that it has been engaged by Jelly Belly Candy Company to find a tenant for a portion of the candy company’s local warehouse. The Barry Company will market approximately 100,000 square feet of available warehouse space at 10100 Jelly Belly Lane, Pleasant Prairie, Wis.

Situated in the I-94 South corridor in Kenosha County, the space meets food grade standards and features eight exterior loading docks, two grade-level doors, 28-foot ceiling height and is divisible to smaller units of space which can accommodate both short- and long-term requirements.

Jelly Belly will continue its operations at the location, featuring a retail space, on-site storage, eCommerce order fulfillment, and free daily tours, which were recently updated to include more activities. The company seeks to lease a separate portion of its property that it has previously leased to several different companies since purchasing the facility in 2001.

“In this increasingly active submarket, this is one of only a handful of available spaces of this size that is available for immediate occupancy,” said Jim Barry, president of The Barry Company.  “This space is move-in ready and in immaculate condition,” he added.

Brokers David Buckley and Kevin Barry are working on the assignment.

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.

Milwaukee’s Hot Water and Wherehouse building sold

The Barry Company brokers transaction

Conflux Holdings, LLC has purchased the 21,000 square foot cream city brick building that housed the Hot Water and Wherehouse dance clubs.  The property, located at 748-820 S. Water Street, Milwaukee, sold for $2.1 million.

Owner Paul Mueller plans to retire now that the building has sold, while the new owner plans to utilize the space to house a restaurant/bar, pedal tavern and food truck.

Kevin Barry, CCIM, Executive Vice President of The Barry Company brokered the transaction.

For more information on plans for the building, visit this article from the Milwaukee Journal Sentinel: https://www.jsonline.com/story/entertainment/dining/carol-deptolla/2018/01/31/sale-waterfront-building-keep-entertainment-harbor-district/1075072001/

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.

Private investor purchases industrial property

The Barry Company brokers transaction

A private investor has purchased the 15,150 square foot industrial property located at 16601 W. Cleveland Ave., New Berlin, Wis. from Wilde Properties LLC and 16601 West Cleveland LLC.

David L. Barry, CCIM, SIOR, of The Barry Company brokered 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.

Private investment group purchases three properties in Butler, Wis.

The Barry Company represents Seller in transaction

A private investment group in Butler, Wis. sold its 17,902 square foot industrial facility to another private investment group.  The property, located at 5118-5140 N. 125th Street, Butler, Wis. consisted of two connected buildings.  The sale also included a 0.22 acre parcel of land located adjacent to the property.

David L. Barry, CCIM, SIOR, of The Barry Company represented the seller in this transaction.

When combined with other recent sales, The Barry Company has completed nine transactions in Butler, Wis. in just a matter of months.

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 18awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received several 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.

Private investor sells vacant industrial building

The Barry Company represents seller in transaction

The Barry Company has sold the 32,720 square foot industrial facility located at 13111 W. Silver Spring Dr., Butler, Wis. to Blair Burkette.  Blair Fire Protection plans to occupy a portion of the property.

Kurt Van Dyke, CCIM, SIOR of The Barry Company represented the seller in the transaction, a private investor.

About The Barry Company

The Barry Company, a 95-year-old independently owned and operated commercial real estate company provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won seven awards from the Commercial Association of Realtors-Wisconsin in the past five years, including five Deal of the Year awards and two Realtor® of the Year awards. The company has also received three consecutive 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.

Commercial investment property sold in Port Washington, Wis.

The Barry Company represents Seller in transaction

The Barry Company announced today that it has sold the 6,000 square foot retail/commercial property located at 137-139 W. Grand Ave., Port Washington, Wis.  The recently renovated property features first floor retail space with several residential units on the second floor.  The property was 100% leased at the time of sale.

David Buckley of The Barry Company represented the seller, 139 Grand LLC, and Tom Didier of ReMax United represented the buyer, Grand Port Investments, LLC.

About The Barry Company

The Barry Company, a 95-year-old independently owned and operated commercial real estate company provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won seven awards from the Commercial Association of Realtors-Wisconsin in the past five years, including five Deal of the Year awards and two Realtor® of the Year awards. The company has also received three consecutive 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.

Wheel & Sprocket purchases Bay View industrial building

The Barry Company represents Seller in transaction

The Barry Company has sold the 12,240 square foot industrial facility located at 187 E. Becher St., Milwaukee.  The property, located in the Bay View neighborhood was sold by Cobb Real Estate Holdings, LLC to 187 E Becher, LLC, doing business as Wheel and Sprocket.

Wheel and Sprocket plans to renovate the property into a bike shop and corporate office.  This will be Wheel and Sprocket’s first Milwaukee location.

Jim Young of The Barry Company represented the seller in the transaction.

About The Barry Company

The Barry Company, a 95-year-old independently owned and operated commercial real estate company provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won seven awards from the Commercial Association of Realtors-Wisconsin in the past five years, including five Deal of the Year awards and two Realtor® of the Year awards. The company has also received three consecutive 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 wins in industrial and office categories

The Barry Company won the “Industrial Deal of the Year” award and the “Office Deal of the Year” award, which were presented at the 2017 Commercial Association of Realtors of Wisconsin (CARW) Commercial Real Estate Awards, October 19 at the Grain Exchange, Milwaukee.  The event honored 2017’s most notable professionals and transactions in Southeast Wisconsin commercial real estate.

Jim Young and Jim Barry III, CCIM won the Industrial Deal of the Year award for their involvement in Athea Laboratories’ purchase of the 78,000 square foot facility located at 1700 W. Cornell St. in the City of Milwaukee.  The transaction culminated years of effort to expand Athea’s operations from its two small locations on Milwaukee’s northwest side to a 313,000 square foot campus.

David Barry, CCIM, SIOR and Kevin Barry, CCIM won the Office Deal of the Year award for selling an 11.5 acre land site on Globe Drive in Mount Pleasant, Wis. to InSinkErator for construction of its 85,000 square foot, $26M world headquarters.

When combined with the 2016 awards The Barry Company received, the company has been honored four times in the past two years.  Since the inception of the Deal of the Year award by CARW, The Barry Company has won 16 times.  The company has also been runner-up on multiple occasions.

About The Barry Company
The Barry Company, a 95-year-old independently owned and operated commercial real estate company provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has won four awards from the Commercial Association of Realtors-Wisconsin in the past two years, and 16 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 and has been awarded the Broker of the Year honor by Riverworks Development Corporation.

Milwaukee industrial market experiences strong quarter

The Milwaukee industrial market experienced another robust quarter during Q3 2017. The overall vacancy rate in the market clocked in at an all-time low of just 3.7 percent.

Nearly 1.7 million square feet of industrial space was absorbed during the third quarter, with 346,000 square feet coming from new constructions and expansions that came online and were immediately occupied by users. No speculative space was delivered during Q3, but 620,522 square feet of speculative space is currently under construction. Total square footage under construction is nearly 1.8 million square feet, with a majority of that space expected to come online before the end of Q1 2018.
Lease rates in each sector fluctuated this quarter. Industrial/Manufacturing rents rose by $0.19 to end Q3 at $4.49/SF while Warehouse/Distribution properties saw a similar increase, rising by $0.18 to end the quarter at $4.46/SF. Flex/R&D properties saw the opposite effect when rents dropped by $0.19 during Q3 2017 to $5.35/SF. However, the overall NNN asking rental rate for the Milwaukee industrial market remained relatively flat at $4.80/SF (+$0.05).

The largest jump in rental rates came from the Racine County submarket, where the overall industrial asking lease rate increased by $0.26/SF to $4.42/SF NNN. Industrial/Manufacturing rent jumped to $4.28/SF (+$0.44) and Flex space to $5.00/SF (+$0.25), while Warehouse/Distribution properties remained steady at $4.58/SF.

Racine County was also the site of the biggest economic news in the region during the third quarter, when Foxconn announced that it plans to build a $10 billion factory in the county, with the potential to employ 13,000 workers in the coming years. The factory will add 20 million square feet of industrial space to the market. When combined with Foxconn’s suppliers who may also locate to the region, expect the Racine County industrial market to double its size within the next five years.

The unemployment rate for the Milwaukee metropolitan statistical area (MSA) increased by 80 basis points to 3.9% between May and August, while the national unemployment rate increased by 40 basis points to 4.5%.

DOWNLOAD THE FULL REPORT HERE:  The Barry Bulletin – Industrial Q3 2017