Home Magazines BizTimes Milwaukee Featured deal: Leonardo DRS buildings in Menomonee Falls

Featured deal: Leonardo DRS buildings in Menomonee Falls

By
Alex Zank
-

The Leonardo DRS industrial and office buildings in Menomonee Falls were recently sold to investors for $100 million. Irvine, California-based The Bascom Group LLC and London-based Capital Trust Group now own the newly built 372,900-square-foot industrial facility and renovated 118,600-square-foot corporate office building northwest of Flint Drive and Good Hope Road. Leonardo DRS entered into

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The Leonardo DRS industrial and office buildings in Menomonee Falls were recently sold to investors for $100 million.

Irvine, California-based The Bascom Group LLC and London-based Capital Trust Group now own the newly built 372,900-square-foot industrial facility and renovated 118,600-square-foot corporate office building northwest of Flint Drive and Good Hope Road. Leonardo DRS entered into a 20-year absolute net lease for the complex with annual rent escalations, according to the firms.

The campus serves as the headquarters of the company’s growing Naval Power Systems line of business. Construction of the new facility finished in July.

Founders 3 Real Estate Services represented the seller, Weas Development. JLL arranged a joint venture between the two buyers and on behalf of the buyers placed a $63.7 million, 10-year loan with Citigroup.

Buyers: The Bascom Group LLC and Capital Trust Group Seller: Weas Development Size: Approximately 491,500 square feet Price: $100 million

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