Hot Water and Wherehouse
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.
For more information, contact:
Joe Wilde Company
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.
For more information, contact:
David L. Barry, CCIM, SIOR
dbarry@barrycre.com
414-272-6733
Butler Properties Sold to Private Investment Group
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.
For more information, contact:
David L. Barry, CCIM, SIOR
dbarry@barrycre.com
414-272-6733
Blair Fire Protection
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.
For more information, contact:
Kurt Van Dyke, CCIM, SIOR
kurt@barrycre.com
414-272-6726
139 Grand LLC
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.
For more information, contact:
David J. Buckley
dbuckley@barrycre.com
414-272-6730
James M. Young, MBA
jyoung@barrycre.com
414-272-6723
Wheel & Sprocket
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.
James M. Young, MBA
jyoung@barrycre.com
414-272-6723
Two Wins for The Barry Company
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.
Q3 2017 Industrial Barry Bulletin
The Barry Bulletin
Industrial Q3 2017
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
Want to download the full report?
For additional information contact:
James T. Barry III
President
jbarry@barrycre.com
ICYMI – 2017 Summer Edition
In Case You Missed It…
The summer days are fleeting and it the market was certainly hot during the past few months. Here is a sampling of what The Barry Company has been up to!
Don’t see the property you’re looking for or want a little more information on one of our deals? Give us call at 414-271-1870 for all of your commercial real estate needs.
To view this post in PDF format, click here.
DONE DEALS
SOLD
720-722 S. 5th Street, Milwaukee, WI
Highlights:
5,288 SF Commercial Building sold for $275,000 to Gravity Marketing. READ MORE
Agent:
David J. Buckley
SOLD
Continental & Corporate Center Drive, West Bend Corporate Center, West Bend , WI
Highlights:
5.67 AC site sold to Bruno’s Self Storage and 3.27 AC site sold to Wolfpack One Investments. READ MORE
Agent:
David J. Buckley
SOLD
6000 N. 60th Street, Milwaukee, WI
Highlights:
20,000 SF Industrial Building sold for $495,000 to 360 Degrees LLC. READ MORE
Agent:
James M. Young, MBA
SOLD
5050 W. State Street, Milwaukee, WI
Highlights:
9,000 SF Industrial Building sold to Badger Alloys. READ MORE
Agent:
James M. Young, MBA
SOLD
9300 W. Heather Avenue, Milwaukee, WI
Highlights:
21,366 SF sold for $1,115,000 to Diamond Discs International. READ MORE
Agents:
Kurt Van Dyke, CCIM, SIOR & James M. Young, MBA
LEASED
725 Industrial Court, Hartland, WI
Highlights:
8,600 SF Commercial Building leased to WGS & LTG Holdings, LLC.
Agent:
James M. Young, MBA
SOLD
2750 S. 163rd Street, New Berlin, WI
Highlights:
41,462 SF Industrial Building sold for $1,100,000 to Warehouse-Lighting. READ MORE
Agent:
Kevin C. Barry, CCIM
SOLD
4606 N. 132nd Street, Butler, WI
Highlights:
12,000 SF Industrial Building sold for $820,000 to Circle Electric. READ MORE
FOR LEASE
2305 Stonebridge Road, West Bend, WI
Highlights:
16,000 SF Industrial Building
Excellent location
Clearspan warehouse
Expandable
$4.45/SF NNN
Agent:
David J. Buckley
FOR SALE OR LEASE
540 E. Centralia Street, Elkhorn, WI
Highlights:
40,000 SF Industrial Building
Very utilitarian/multipurpose facility
Immediate freeway access
Divisible
$995,000
$3.95/SF NNN
Agents:
Kevin C. Barry, CCIM & Maximilian M. Yokosh
Highlights:
10.9 AC Retail/Commercial Development Site
Potentially divisible
Extensive Hwy 60 frontage
$595,000
Agent:
James M. Young, MBA
FOR LEASE
7420 S. 10th Street, Oak Creek, WI
Highlights:
20,250 SF Industrial Building
Excellent loading
Large lot
Minutes to I-94 via Rawson or Drexel
$5.00/SF NET
Agent:
David L. Barry, CCIM, SIOR
FOR SALE
6505 W. Calumet Road, Milwaukee, WI
Highlights:
9,500 SF Multi-purpose property
Great clear height
Expandable
$795,000
Agent:
Kevin C. Barry, CCIM
FOR SALE OR LEASE
W1236 Industrial Drive, Ixonia, WI
Highlights:
21,750 SF in two industrial buildings
Extremely clean, clearspan facility
Utilitarian buildings
$1,000,000
$5.00/SF NNN Warehouse
$6.00/SF NNN Office
Agent:
David J. Buckley
FOR SALE (MAY LEASE)
N8W22270 Johnson Drive, Pewaukee, WI
Highlights:
80,000 SF Industrial Building in Prime industrial park location
Excellent interstate exposure and access
High ceilings
Multiple loading options
$4,950,000
Agent:
Kevin C. Barry, CCIM
Highlights:
4.89 AC industrial site
Pad ready
Fully improved business park
$405,381
Agent:
David J. Buckley
FOR SALE
9240 N. 107th Street, Milwaukee, WI
Highlights:
24,090 SF Industrial Building with air-conditioned manufacturing area
Great power
Professionally maintained
Grade and dock loading
$850,000
Agent:
David L. Barry, CCIM, SIOR
Highlights:
7,900 SF Industrial Building on 1.43 AC
Divisible and expandable
Immediate freeway access
Recent upgrades completed in 2017
$495,000
Agent:
James M. Young, MBA
FOR SALE (MAY LEASE)
7507 W. Oklahoma Avenue, Milwaukee, WI
Highlights:
8,100 SF Commercial Building at High-Traffic Intersection
200 person banquet hall with fully equipped commercial kitchen and small bar
Security system, audio system and tables/chairs
$750,000
$8.60/SF NNN
Agent:
Pete Slezak
Engineered Exhaust Systems
Former Engineered Exhaust Systems Building Sold
The Barry Company represents Seller in transaction
Hermann Properties LLC has sold the 42,000 square foot industrial property located at 2750 S. 163rd St. in the New Berlin Industrial Park, New Berlin, Wis. to Abraham Holdings, LLC.
The property formerly housed the operations of Engineered Exhaust Systems, a manufacturer of exhaust systems and other components for the outdoor power products industry, which recently moved its headquarters to a new facility in Saukville, Wis.
Kevin Barry, CCIM 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.
For more information, contact:
Kevin C. Barry, CCIM
kbarry@barrycre.com
414-272-6728
