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.
For comments, questions or concerns, please contact Paul Bubny