Founders Properties sold a nearly 200,000-square-foot industrial building in the Milwaukee area for $16,220,000.
The investment management firm has owned the property, which was in Fund V, since October 2021.
The 192,160 sq. ft. property, located in Sussex, WI, was built in 1996 and renovated in 2018. It has 24 docks, five drive-ins, and is within six miles of Interstate 94. Cushman & Wakefield | Boerke represented Founders. Badger Distribution Inc., operating through BP Real Estate Holding LLC, bought the facility and was represented by Judson & Associates, s.c.
Founders has focused its current fund on infill industrial properties in eight markets with strong fundamentals, including Atlanta, Charlotte, Chicago, Columbus, Dallas/Ft. Worth, Minneapolis, Phoenix, and Salt Lake City.
