Wisconsin has become more attractive for businesses, especially when compared to neighboring Illinois and its ongoing budget problems, he said. Milwaukee developer Stewart Wangard agreed, saying Kenosha County will likely continue to attract Illinois companies.Meanwhile, other locations in southeastern Wisconsin are seeing strong demand for new industrial space, Wangard said. His firm, Wangard Partners Inc., plans to develop a pair of buildings, totaling up to 124,000 square feet, on the former Yellow Freight truck terminal at 11528 W. Rogers St., West Allis. The firm is negotiating with a prospective tenant that would use 40,000 square feet, with additional space to be built in anticipation of landing other tenants, Wangard said. Construction could start before the end of this year, he said. Read the entire article at JSOnline.com »
News
Wauwatosa Plan Commission OKs apartment proposal
An apartment development proposed at a former Wauwatosa industrial site has won Plan Commission approval after the developer added more units and made design changes.
Wangard Partners Inc. wants to build six two- and four-story buildings, totaling 169 units, on 9.4 acres at 1215 N. 62nd St., formerly the site of a Western Industries facility. The lot is north of Grede Foundry and west of The Enclave apartments and The Reserve apartments.
The market-rate apartments would range from studios to three-bedroom units, with monthly rents starting at around $900, said Stewart Wangard, company chairman and chief executive officer.
Read the entire article at JSOnline.com »
SDM Partners – Real Estate Market INSIGHTS
“INSIGHTS is a collection of commercial real estate (CRE) thoughts and stats mostly on Atlanta, [Georgia], along with political comments and random factoids/sayings/quotes.” The collection is authored Steven D. Martin, Managing Principal of SDM Partners.
A Note From Stu:
Steve D. Martin is close friend and one of the brightest people I know in real estate. He is a 29 year veteran of commercial real estate whose areas of expertise include acquisitions, development, and finance. He focuses his business in the southeastern part of the US, specifically metropolitan Atlanta, GA.
In contrast to southeastern Wisconsin, Atlanta is a city that’s known for booms and busts; it is not yet fully recovered from the last bust. The state of Wisconsin is on a healthy road to recovery. Our state recently has been ranked as one the top business climates in the United States.
Wangard is primarily focusing on new developments and stabilized assets. We are continuing to acquire opportunistic assets on a very limited basis. Our very best assets are those that are well-located, well-constructed and managed by us. The opportunistic deals typically come with several complications and property flaws that are difficult to discover during the due diligence process. We are still finding a good selection of development opportunities throughout Northern Illinois and Southern Wisconsin. While interest rates are increasing, we continue to find opportunity in the emergent economic activity.
The views and opinions expressed in this article are those of the authors and do not necessarily reflect the position of Wangard.
Read the article here: INSIGHTS »
Wangard moves forward with State Street proposal
A residential development proposal for State Street just west of Walgreens that met a hostile reception at last month’s Plan Commission meeting came back in a radically modified form and was easily approved Monday night. Wangard Partners had proposed a 126-unit apartment complex at the site, comprised of house-like structures with matching rooflines and garage and surface parking. Working with a new architect, Wangard came back with a proposal of higher density — 169 units on the 9.4 acre site — and a mixture of flat and peaked roofs, with more parking hidden. The project, estimated at $24 million, would have four-story, 32- and 58-unit “bookend” buildings that have flat-roof overhangs, balconies and varied materials and depths reminiscent of The Enclave development across the street. “I think this is a 100 percent improvement,” said Alderman Dennis McBride, who is not a member of the commission but represents the district that includes the site. “And I’m very happy to see it.” Read the entire article at WauwatosaNow.com »
Wangard builds for Regal Beloit Corp.
http://www.youtube.com/watch?v=QdIGPBj8IpU
Regal Beloit Corporation is one of the largest global manufacturers of commercial, industrial, and HVAC electric motors, electric generators and controls, and mechanical motion control products. The company sells its products to a diverse global customer base using more than 30 recognized brand names.
Regal Beloit Corporation needed a new office building that would express their recent corporate rebranding effort and house their International IT Headquarters. Through an efficient design and value- engineering process, the Wangard team was able to design and match the specifications of a new facility to meet the detailed needs of Regal Beloit. The project consists of 45,000 square feet of office space in the Village of Grafton, Wisconsin directly across from their previous building.
Wangard Partners plans $13M industrial project in West Allis
Wangard Partners Inc. is planning a roughly $13 million industrial project on the former Yellow Freight site in West Allis and has one manufacturer lined up to lease a portion of it.
The Milwaukee-based developer is seeking to buy the 9-acre property from the city of West Allis for the development, which would have two buildings with a combined 167,000 to 180,000 square feet, said Stewart Wangard, chairman and chief executive officer. The project would be built in two phases, with a manufacturer locked in to lease the first building, he said. Wangard declined to name the company.
Read the entire article at BizJournals.com »