New Berlin Industrial Building Groundbreaking News
New Berlin Industrial Building Groundbreaking
6051 South Moorland Road
New Berlin, Wisconsin
Westminster Realty Partners II LP has commenced development of a 192,800 SF Class A, state-of-the-art industrial building in New Berlin, Wisconsin, a southwestern suburb of Milwaukee. The building will have 30 foot clear heights, ESFR sprinklers, trailer storage, and quality finishes. The land was acquired May 15th and a formal groundbreaking ceremony was held June 5th. Briohn Building Corporation has been engaged to design and construct the building. Cushman & Wakefield will act as leasing agent. Westminster Realty Partners II LP has committed $3.9 million of equity, with construction financing provided by CIBC.
About Westminster Capital
Westminster Capital manages real estate investment strategies on behalf of private wealth capital, including sponsorship of closed-end investment funds and separate account portfolios totaling $828 million of investor capital. Westminster Capital makes commercial property investments throughout the United States across Industrial/Distribution, Apartments, Medical Office and Senior Living properties offering Value-Add to Opportunistic risk-reward returns. Such work includes rebuilding income streams of existing properties, or manufacturing them through new construction. The firm employs careful investment underwriting and pursues well-funded tenants motivated by powerful, long-term secular trends in their needs for such properties. Founded in 1988, the firm is headquartered in Lake Forest, Illinois.