Two lots sold in West Bend Corporate Center

The Barry Company sells land to accommodate development

Two lots located in the West Bend Corporate Center, West Bend, Wis. have been sold to pave the way for new developments.

Bruno’s Self Storage 2, LLC has purchased a 5.67 acre industrial lot on Corporate Center Drive, where it plans to build an approximately 134,000 square foot climate-controlled warehouse facility.  Construction is scheduled to begin during Q3 2017.

Wolfpack One Investments, LLC has purchased a 3.27 acre industrial lot on Corporate Center Drive.  The site will house a 20,000 to 30,000 square foot multi-tenant industrial facility.  Construction will begin in late 2018.

David Buckley of The Barry Company represented the seller, Continental 52 Fund, LLC in the land sales.

“Additional land sales in West Bend Corporate Center indicate continued demand for locating in this high quality business park,” stated Buckley.  He has sold several lots in the park within the past few years, including the land for Delta Defense’s corporate headquarters.

Buckley continues to market the remaining available sites in the park.  There are several sites available ranging in size from 1 to 59 contiguous acres.

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.

Circle Electric purchases former TEC Electric building

The Barry Company represents Buyer and Seller in transaction

Circle Electric, Inc. has purchased the 12,000 square foot industrial facility located at 4606 N. 132^nd Street, Butler, Wis. from Eclectic Enterprises, LLC.

Circle Electric, Inc. provides electrical contracting and engineering services throughout Southeastern Wisconsin.  “This location allows Circle Electric to double its building footprint to accommodate the growth of its business,” said Kurt Van Dyke, CCIM, SIOR of The Barry Company.  Van Dyke represented Circle Electric in the transaction.

“The market is very tight right now.  There are only a few other quality buildings of this size range left in our inventory,” added Kevin Barry, CCIM of The Barry Company.  Barry represented Eclectic Enterprises, LLC 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.

Diamond Discs purchases Milwaukee industrial facility, plans move

The Barry Company brokers transaction

Diamond Discs International, Inc. has purchased the 21,366 square foot industrial facility located at 9300 W. Heather Avenue, Milwaukee, from 9300 W Heather Avenue LLC.

Diamond Discs will move its corporate headquarters from its current location at 8530 W. National Avenue, West Allis, Wis., and expand into the northwest Milwaukee property.  The company is a premiere construction tool provider of diamond edged cutting tools and diamond impregnated products, which will increase its staff by up to 300% over the next several years.  Diamond Discs was a Metropolitan Milwaukee Association of Commerce Future 50 award winner in 2010 and 2016 due to its rapid growth.

“This property was a great fit for Diamond Discs.  With a fantastic location in a high quality Milwaukee industrial park, the site provides excellent accessibility for its customers as well as current and future employees,” said Kurt Van Dyke.  Van Dyke and Jim Young of The Barry Company were the exclusive brokers on the transaction.

Morris Midwest, a division of Morris Group, Inc., currently occupies the Heather Avenue building and will be relocating to a Waukesha County facility within in the next few months.  The company supplies CNC machine tools, tooling, accessories, software, automation and more to manufacturers of precision machined parts throughout the Midwest.

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.

Milwaukee industrial market experiences robust quarter

The Milwaukee industrial market experienced a robust second quarter of 2017. Although the vacancy rate in the market grew slightly from 4.2% to 4.3%, there was more than 1.5 MSF absorbed during the quarter. This is a phenomenal jump from the 316,696 SF recorded during the first quarter.

The Milwaukee industrial market added more than 1.8 MSF of new product during Q2 2017. Large completions included Uline’s 880,000 SF distribution center in Kenosha, which was immediately absorbed, as well as First Park 94’s Building B, a 602,000 SF speculative industrial building. Madden Communications leased half of the property, but the remaining space, along with other speculative space added to the market means there is 400,000 SF of new speculative industrial space currently available. This accounts for the slight increase in the area’s vacancy rate for the quarter.

The Milwaukee industrial market has more than 900,000 SF still under construction, including 313,000 SF of speculative space in Franklin and Kenosha.

Lease rates in the Milwaukee industrial market continued to improve during the second quarter. Overall, the average asking rate for the industrial market rose from $4.58/SF at then end of Q1 2017 to $4.66/SF at the end of Q2 2017.

Industrial/Manufacturing properties remained relatively steady, increasing by $0.02 since the previous quarter, to end Q2 at $4.25/SF. Flex/R&D properties saw the largest rental rate incrase, from $5.24 during Q1 2017 to $5.38/SF during Q2. Warehouse/Distribution properties saw a similar increase during Q2 2017, increasing by $0.13/SF to $4.32/SF. Waukesha County saw the most improvement in rental rates across the board during Q2 2017, with both industrial and flex asking rates going up by $0.14/SF.

The unemployment rate for the Milwaukee metropolitan statistical area (MSA) dropped to 3.1% in May 2017, down 110 basis points from the 4.2% unemployment rate in January. Statewide, the unemployment rate is lower still, reported at 2.8% in May 2017. Nationally, the unemployment rate is 4.1%.

DOWNLOAD THE FULL REPORT HERE:  The Barry Bulletin – Industrial Q2 2017

R&T Construction Properties purchases suburban Milwaukee property

The Barry Company represents Buyer and Seller in transaction

R&T Construction Properties has purchased the approximately 11,000 square foot industrial facility located at 4264 S. Packard Avenue, Saint Francis, Wis. from Triwire 3, LLC.

The property formerly housed the headquarters of Black Bear Bottling Group, LLC.  The buyer, a private investor, will lease the building to an undisclosed tenant.

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

Design/build contractor purchases Milwaukee property

The Barry Company represents Buyer in transaction

360 LLC has purchased the 20,000 square foot industrial facility located at 6000 N. 60th Street, Milwaukee from Knight Barry Exchange, LLC.  360 LLC will use the property for its growing design/build business.

James Young of the Barry Company represented the buyer 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.

Badger Alloys purchases Milwaukee industrial property

The Barry Company represents Buyer in transaction

BA Properties 2 LLC has purchased the 11,000 square foot office/warehouse facility located at 5050 W. State Street, Milwaukee, from DMA LLC.

Badger Alloys, Inc. which owns other industrial properties nearby, will occupy the facility.

James M. Young of The Barry Company represented Badger Alloys 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.

Milwaukee Beer Museum sold; to be rehabbed for Gravity Marketing’s HQ

The Barry Company brokers sale transaction

Gravity Real Estate, LLC has purchased the 4,440 square foot property located at 720-722 S. 5th Street, Milwaukee from James M. Kupferschmidt Living Trust. The property formerly housed the Milwaukee Beer Museum, a collection of beer industry memorabilia. It includes a two-story commercial building and a 1,000 square foot garage area.

The Walker’s Point building will be renovated to house the operations of Gravity Marketing, which will move to the property from its current location at 305 N. Plankinton Ave., Milwaukee. Founded in 2009, Gravity Marketing is an outsourced marketing solution for small and medium-sized businesses, providing customized, long-term sales and marketing strategies to make businesses more profitable.

“Gravity Marketing continues to grow as business owners experience the full-time results an outsourced marketing team can deliver at a part-time price,” said Mike Kuharske, president of Gravity Marketing, LLC. “Our relocation to South 5th Street will accommodate this growth as well as future expansions to our business.”

David Buckley, Senior Vice President of The Barry Company, brokered 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.

Milwaukee commercial building sold

The Barry Company represents Seller in transaction

WGLB Scholarship In Memory of Joel J. Kinlow, Inc. has purchased the 12,852 square foot commercial building located at 7841 W. Appleton Ave., Milwaukee.

David Buckley, Senior Vice President of The Company represented the owner of the building, TMJ Land, Inc. 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.