Milwaukee’s Cassidy Turley Barry recently sold two crane buildings in the Southeast Wisconsin commercial real estate market.
Rotating Equipment Repair, a company that performs pump repair for power generation, purchased the 18,000-square-foot industrial facility located in the Sussex Corporate Park in 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 and Jim Young, both of 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, Young represented Universal Metrics, Inc. in its purchase of the 38,700-square-foot industrial crane facility located in 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.”