MILWAUKEE - Cassidy Turley Barry recently sold two crane buildings in the Southeast Wisconsin commercial real estate market.
Rotating Equipment Repair, a company which performs pump repair for power generation, purchased the 18,000 square foot industrial facility located at W254N5474 Corporate Circle, in Sussex Corporate Park, Sussex, Wis. from Venture Capital Investments LLC. Rotating Equipment Repair will use the property as an additional facility to complement its expanding business. David Barry, CCIM, SIOR and Jim Young, both of Milwaukee-based Cassidy Turley Barry, brokered the transaction.
“TriStar Tool recently went out of business and the property went into receivership. We were able to complete the sale immediately after the property formally came on the market,” said Barry of the transaction.
In a separate transaction, Jim Young represented Universal Metrics, Inc. in its purchase of the 38,700 square foot industrial crane facility located at 3040 Helsan Dr., Richfield, Wis. Universal Metrics, a Menomonee Falls, Wis.-based supplier of steel and stainless steel fabrications, machined components, metric hardware, and specialty warehousing services, will expand its capacity with the addition of this building. The company currently operates out of three other locations in Southeast Wisconsin, all of which will remain in full operation.
Anthony Huenerbein and Brian Parrish of The Dickman Co., Inc. represented the seller, TVT, LLC in the transaction. The property formerly housed the operations of Victory Steel which closed early this year.
“The Richfield building offered multiple bridge and jib cranes, expansion room and good freeway access, which made it very appealing to Universal Metrics as a specialty fabrication plant,” said Young. “Both transactions represent a continued positive trend in the industrial real estate market.”
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,400 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $18 billion in 2010, manages 455 million square feet on behalf of private, institutional and corporate clients and supports more than 25,000 domestic corporate services locations. Cassidy Turley serves owners, investors and occupiers with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. In 2010, the firm enhanced its global service delivery outside of North America through its partnership with GVA. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local Milwaukee market leader Cassidy Turley Barry. Cassidy Turley Barry is the winner of four consecutive Deal of the Year awards from the Commercial Association of Realtors-Wisconsin (2008-2011), three consecutive Best Deal/Lease of the Year awards from The Business Journal (2009-2011) and was awarded the 2010 Brokers of the Year honor by Riverworks Development Corporation.
James M. Young
David L. Barry