Monday, August 3, 2015

HSA Commercial and Innovative Capital Advisors Equity Fund Acquires 114,000 SF Warehouse Building in Wauwatosa, WI


 
Tim Blum
CHICAGO, IL and MILWAUKEE, WI (August 3, 2015) — A joint real estate fund formed by commercial mortgage lending specialists Innovative Capital Advisors (ICA) and Chicago-based HSA Commercial Real Estate, a full-service real estate firm, has closed on the acquisition of the 114,000-square-foot Wauwatosa Business Plaza industrial building  located at 3031 N. 114th St. in Wauwatosa, Wis.

 The high-clear warehouse facility is adjacent to the former Schwaab stamp factory that was purchased by the same partnership earlier this year.

The Wauwatosa Business Plaza is currently 50 percent occupied by warehousing tenants including a Habitat for Humanity ReStore donation center and resale shop. 

Given the existing tenancies at the property, HSA Commercial and ICA do not have any immediate redevelopment plans.

“With the success of The Mayfair Collection and the continued transformation of Burleigh Street from a lifeless industrial corridor to a vibrant mixed-use district, our newly acquired properties represent strategically significant touchpoints that will define perceptions of this area for visitors and future residents,” said Tim Blum, executive vice president with HSA Commercial.

“For that reason, we need to ensure that these assets are managed over the long term such that they contribute to the city’s ambitious vision for The District.”

 James T. Barry III, J.D, CCIM; Kevin Barry, CCIM; and David Barry, CCIM, SIOR of DTZ Barry represented the seller of the Wauwatosa Business Plaza in the transaction.

For a complete copy of the company’s news release, please contact:


Abe Tekippe, atekippe@taylorjohnson.com, 312-267-4528

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