STAG Capital Partners recently purchased a 206,800-square-foot industrial building on 8.05 acres of land at 4041 N. Richards St., Glendale, from 4041 Richards LLC, for $5,854,000. STAG is a Boston-based investment group. The building is 100 percent leased. Heinn Trend, a maker of custom designed catalog binders and presentation book covers, leases 65 percent of the building and the Social Development Commission leases the other 35 percent. "We bought the property because it is 100 percent leased, and we happen to like that part of Milwaukee," said Brad Sweeney, vice president of acquisitions for STAG. In April the company bought the 270,000-square-foot Bentley World Packaging Ltd. building at 200 W. Capitol Dr., Milwaukee, in a sale-leaseback deal for $6.6 million. Sam Dickman Jr. and Ross Smith of The Dickman Company Inc. represented the buyer and seller in brokering the sale of the Glendale building.
MGM Properties LLP recently purchased the 46,713-square-foot industrial building at 4040 Cardinal Lane, Hartland, for $2.05 million from Journal Communications Printing Group. The building is the home to Lake Country Publications. Last year, Journal Communications moved Lake Country’s printing operations out of the building to a facility in Waupaca. The company will lease back 9,000 square feet of office space in the building for Lake Country Publications operations. The owners of MGM, Mike and Gina White, also own Rapco Fleet Support, which plans to move into the building from the smaller building across the street. The company manufacturers and distributes replacement aircraft parts. The sale of the building was brokered, for both the buyer and seller, by Mark Smith of Judson & Associates.
