Chicago & Midwest + Midwest + Office | January 5, 2021

Bascom Partners to Acquire Milwaukee-Area R&D Campus

Bascom Group partnered with Capital Trust Group to acquire a 372,856-square-foot, absolute net-lease build-to-suit research and development, manufacturing and testing facility and an adjacent 118,620-square-foot corporate office in the Milwaukee-area community of Menomonee Falls, WI for $100.2 million. The transaction represented Capital Trust Group’s first U.S. acquisition in more than two decades.

JLL’s Claudio V. Sgobba and Christopher Knight worked on behalf of Bascom Group to arrange the joint venture partnership with Capital Trust Group. Additionally, working on behalf of the new partnership, JLL placed a 10-year, 65-percent, LTV, CMBS, fixed-rate $63.7-million loan with Citigroup.

The mission-critical facility was delivered in July 2020 as a BTS for Leonardo DRS’ naval division, which already occupied the adjacent three-story office building beginning in 2019. The facility is used to design, test, and produce naval and marine products for the U.S. Navy.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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