New Berlin Industrial Development – New Berlin, Wisconsin – Mid-Scale 192,800 SF Industrial Development – 100% owned by WRP II

Opportunity

A 192,800 SF, mid-scale industrial distribution building that was constructed by local general contractor Briohn Building Corporation, located in New Berlin, WI, a southwestern suburb of Milwaukee, WI. Located in Waukesha County, the project benefited from a low vacancy rate for Class A industrial space which resulted in ECM Industries, LLC, a local manufacturer and distributor of electrical supplies, leasing the entire building in February 2019. In December 2019, New Berlin was sold to a publicly traded REIT, generating an IRR of 66% and an Equity Multiple of 2.0 to 1.

Property

Mid-Scale Industrial

Distribution Building

Size

192,800 SF

Built

2017-2018

Ownership

2017-2018

Sold

December 2019

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