1st Qtr 2022 Newsletter
April 01, 2022
1st Quarter 2022
Below are the Quarterly Office and Industrial Reports for our Greater Milwaukee Area:
Judson and Associates, s.c. team members Matt Judson and Mike Steiner were tasked to Lease and/or Sell the property located at W136 N5283 Campbell Drive in Menomonee Falls in June of 2020. Matt and Mike were able to secure a strong tenant for half of the building. With a lease in place and ownership completing tenant property improvements, the value of the building was increased. After determining the new value of the building, another Judson team member, Cole Russell, was able to present the property to an investor client. Negotiations took place and the investor was able to add a nice building to their portfolio. Congratulations to all involved!
To Lease or Sell?
The decision to Lease or Sell a commercial property can be daunting at times for Owners. Especially owners who have a lot of personal ties to a property. Our goal at Judson and Associates, s.c. is to analyze the market for our clients to decide what makes the most sense for each individual situation. The property at 400 Sunset Drive in Waukesha is a prime example. The Owner's company was growing and in 2021 Matt Judson assisted in finding them a larger building, but they still had strong ties to their original building. After reviewing the current market trends and discussing what made sense for Ownership, both a Lease and Sale option for the building were advertised. After a great deal of activity one group came forward that wanted a long term lease and offered a rate above asking. The tenant is thrilled to open a Waukesha location in a great building and the Owner was able to retain the property for investment purposes.
Listening and Team Work
Information Systems Engineering (ISE) enlisted the assistance of Matt Judson in the fall of 2021. Matt then brought in team member Will Schlosser to help scour the market for the right place. ISE was growing out of their current space in the middle of a large corporate park and felt something was missing. The missing piece was a collaborative/family feel within the office environment. They wanted their new space to have a large open concept area for collaboration that encouraged team work. They also wanted to be close to an amenity rich area. Exhausting the Pewaukee and Goerke's Corners corporate park areas, Matt and Will presented ISE with options within Lake Country. One recently renovated building, just minutes from both Hwy 16 and I-94, not only offered a great location but the right percentage of open concept to private office space as well as an abundance of natural light. It's always a pleasure to be able to truly listen to a customer's needs and help them find the perfect fit. We wish ISE much happiness and in their new location at 925 Walnut Ridge Drive in Hartland!
Two Week Sale!
At the end of 2021 an investor client of Matt Judson purchased a property at 204 Wilmont Drive in Waukesha that had one tenant space of 6,000 SF vacant. Shortly after the new year began, so did advertising the vacancy. Within a very short amount of time Matt was able to make contact with a company out of Illinois that wanted space to promote a move into the Metro Milwaukee Market. Knowing the building and being able to work quickly towards a lease, Matt was successful in negotiating a deal. Happy Tenant. Happy Investor Client. Way to go, Matt!
Understanding Customer's Needs
Will Schlosser and all of us at Judson and Associates,s.c. are excited for Lake Country Pediatrics' ability to relocate back to the Delafield area. They needed a space with easy access for patients with more visibility to the public. After learning of their specific needs Will was able to present a space that just became available at 2705 Golf Road in Delafield that was formerly a medical spa. The space was the right size, offered private treatment rooms with sinks and an overall layout fitting the needs for Lake Country Pediatrics. All of that plus the ability to get their name out to a larger audience with signage directly off of Hwy 83 near I-94. After one tour Lake Country Pediatrics knew they had found their new "home". Congratulations!
Just Smokin' Barbecue Makes Lannon Home
It was Will Schlosser's pleasure to assist Justin Kahle, owner of Just Smokin' Barbecue in finding the right place. Search efforts began in the Oconomowoc area as Justin was previously sharing space and providing the food for Steel Tank Brewing. After several months of looking in "Lake Country" they were at a standstill in finding the perfect spot. This is until Judson and Associates, s.c. listed a space in Lannon that had been the home of Quarry Coffee for 15 years. Though not initially were he envisioned his restaurant, Lannon is where Justin grew up. In describing the space's potential, a tour was scheduled. After a few visits to the space and much deliberation Justin decided 20316 W Main Street in Lannon would be the new home of Just Smokin' Barbecue! The location is just off the main thoroughfare between the growing communities of Sussex, Lannon and Menomonee Falls. If driving through or biking along the adjact Bug Line Recreation Trail be sure to stop by and have some fantastic smoked barbecue.
Multiple Office Suites for Lease Close to I-94
3,195 SF up to 9,535 SF
Private Entrances Available
Some Suites Feature Warehouse Space
Lease Rate: $11.00 PSF NNN
10,800 SF Office Building
Just off of Busy Bluemound Road
Exceptional Office Build Out
Single or Multi-User
Sale Price: $695,000
28,032 SF Industrial Building
Dock Doors: 2 - 8'x10'
Drive In Doors: 1 - 12'x12'
Clear Height: 15'-17'
Sale Price: $1,860,000
2 Industrial Suites for Lease
4,320 SF and 7,915 SF
High Visibility Location: Corner of Highway J and Northview Road near the Waukesha Airport.
Clear Height: 17'
Lease Rate: $2,220 - $4,600/Month NNN
Investment Property for Sale
Located in the Heart of Downtown Watertown
Popular Bar/Grill Main Floor Longterm Tenant
2 Residential Apartments on Second Floor
Building has Historic Feel
Sale Price: $240,000 SALE PENDING
1,900 SF Office Suite for Lease
Convenient to I-94, Restaurants and Stores
End Cap Space
Lease Rate: $12.75 PSF Modified Gross
29,357 SF Office Building for Sale
10,133 SF Available (Various Suite Sizes)
Investment and/or Owner-User
Great Location Near the Corner Of Hwy 164 & Main Street (Hwy VV)
Sale Price: $2,500,000