Capital Partners buys Waukesha industrial center for $10 million

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Minneapolis-based industrial real estate firm Capital Partners recently acquired a building in Waukesha from Mohr Capital.

The firm bought the Ridgeview Industrial Center IV, located at W233-N2095 Ridgeview Parkway, from Mohr for $10 million. Commercial real estate firm CBRE arranged the sale and acquisition for the 89,405-square-foot, Class B industrial property.

Bentley Smith, Joe Horrigan, Ryan Bain, Zach Graham, Judd Welliver and Mike Caprile, all part of the CBRE team, represented Mohr in the transaction, real estate officials said. Billy Mork, Mike Vannelli and Joel Torborg of CBRE’s Capital Markets Debt and Structured Finance team secured a five-year, fixed-rate, full-term, interest-only loan for the buyer.

“Ridgeview Industrial Center IV received strong interest from investors given its prime location in Milwaukee,” Smith said in a statement. “The property offers strong in-place cash flow with a 7.9-year weighted average lease term and robust recent leasing momentum.”

The industrial center was built in 2001 and is located near the intersection of Interstate 94 and Redford Boulevard. The property was renovated in 2021 and 2023.

The building features 22-foot clear heights, one drive-in door, 14 dock doors and 316 surface parking stalls.

TireHub and Common Transportation LLC occupy the Ridgeview Industrial Center. Previously, it was home to a U.S. Cellular branch. The building was fully occupied at the time of sale, real estate officials said.