The Chicago office of Avison Young recently closed the sale of a 249,753-square-foot industrial facility at 2300 S. 51st St. in Milwaukee.
Avison Young represented the seller, Oilgear, a manufacturer of hydraulic pumps, valves and related equipment. The buyer was Global Power Components.
In advance of the disposition, Avison Young associate Tom Curtis and principal Mike McKiernan, both based in the firm’s Chicago Suburban office, provided strategic advisory services to assist Oilgear in evaluating and executing a global consolidation and realignment of its commercial real estate facilities.
Terry McMahon, a principal with The Boerke Company, Inc. in Milwaukee, assisted Avison Young with the building sale. The sales price was not disclosed.
As part of its realignment, and a move that paved the way for the building sale, Oilgear is relocating its Milwaukee production to existing facilities in Fremont, Nebraska, and Traverse City, Michigan. The firm will retain engineering functions in the Milwaukee area.