Newsletters
4th Qtr 2022 Newsletter
December 31, 2022
4th Quarter 2022
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Below are the Quarterly Office and Industrial Reports for our Greater Milwaukee Area:
Staying in Contact Yields Results
At Judson and Associates, s.c. clients are valued. Checking in with past clients and their commercial real estate goals is something Matt Judson has continued to do since he started in the industry. Case in point with a recent portfolio sale at 411 Travis Lane and 2121 S West Avenue in Waukesha. Over many years Matt has enjoyed conversations with the owner of the properties, but during the last check in the owner was ready to entertain to a quiet sale. As luck would have it, fellow Judson and Associates agent Will Schlosser had an investor client that was wanting to add to his portfolio! Bonus was the long-term tenants were able to remain in the premises without major disruptions due to the sale of the buildings. A big win for all involved!
No Boxes Left Unchecked
Luke Russell with Judson & Associates, s.c. was honored to work with United for Waukesha Resiliency Center in finding them a new home. After their initial round of tours, they singled in on one property that checked most, but not all, of their boxes. After a slow process of getting quotes and needing to get into a space quickly, they decided to go back to the drawing board to find the right property. During that time, a longtime friend of Judson and Associates, s.c., and property investment group mentioned an office space opportunity that could be coming on the market. This Landlord made quick decisions and responded promptly to all requests and UWRC is now enjoying their new space off of Pewaukee Road in Waukesha where they hope to assist many more people who have been affected by the Waukesha Christmas Parade on 11/21/221.
Team Work Nets Better Values
Matt Judson and Cole Russell teamed up with a multi-tenant building owner to come up with a strategy to net the best overall value. When the property was listed about 75% of the SF was occupied by a month-to-month Tenant who needed to downsize. Matt and Cole were able to work with the building owner to paint the picture of diversifying the building with a new tenant that encompassed converting office space to warehouse to properly accommodate a prospective user. After completing a lease and one tenant taking on an additional 3,000 SF the month-to-month user “rightsized” and the value of the property significantly increased due to the rents/building improvements/tenant diversity. Matt and Cole were then able to market the property as an investment opportunity and the property sold at 100% of the asking price!
Exploring All Options
In today’s difficult market to find warehouse space with its historically low 3.3% vacancy rate, it is necessary to open all doors to solve a customer’s problems. Will Schlosser took the challenge head on and identified a great option just outside the customers requested territory and it was a match. Congratulations to Vorteq Coil in finding your new company headquarters.
12600 W Burleigh Road, Brookfield
43,452 SF Industrial Building for Sale or Lease Docks: 2 Interior 14' with Levelers Drive in Doors: 1 - 10'x10' Clear Height: 16' Lease Rate: $6.50 PSF NNN Sale Price: Negotiable |
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151 E Wisconsin Avenue, Pewaukee 5,210 SF Multi-Use Investment Property for Sale Fully Occupied Zoning: B2 - Downtown Business District 1.99 Acres Sale Price: $1,200,000.00 |
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5,800 SF Industrial Building for Sale Features: Floor Drains, Air Exchange System Monument Signage Zoning: B3 - General Business District Sale Price: $499,000.00
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241 N Broadway, Ste. 402, Milwaukee 4,639 SF Available for SubLease In the Heart of Milwaukee's Historid Third Ward Big Windows and High Ceilings Furniture Negotiable. Amenity Rich Area. Lease Rate: $15.00 PSF NNN |
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8301 N 76th Street, Milwaukee
5,300 SF Stand Alone Retail or Office Space for Lease Parking: 61 Surface Spaces Open Concept Area and Two Private Offices Zoning: CS - Commercial Services Lease Rate: $9.00 PSF NNN |
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10521 W Layton Avenue, Greenfield 2,683 SF Second Floor Office Space for Lease Monument Signage Available Just off of Hwy 100 and near the Hale Interchange Elevator Lease Rate: $20.00 PSF Gross |