The Philipsborn Company has completed construction and long-term, fixed-rate, first mortgage financing of $6.5 million for a 137,185-square-foot office-warehouse distribution center in Sturtevant, Wisconsin.
The building, leased by Grand Appliance and TV Company, is located on 11.75 acres at 10301 Enterprise Way, within the Renaissance Business Park. Construction began in the fall of 2017 and completed in May of this year.
The landscaped property includes paved surface parking for 144 vehicles, including six handicapped spaces. The Dobbins Group was general contractor. The warehouse has a 28-foot clear ceiling height; overhead drive-in truck door; and 27 dock- height truck doors with levelers.
Philipsborn structured and negotiated the fixed-rate construction and long-term self-amortizing debt on behalf of the borrower, a Wisconsin limited liability company. Financing was provided by Ameritas Life Insurance Company, a Philipsborn correspondent lender.
