Chicago & Midwest + Midwest + Industrial | May 24, 2021

Milwaukee-Area Spec Industrial Lands Construction Debt

Associated Bank has completed a $13,254,500 loan to WRP Pewaukee LLC, an affiliate of Westminster Capital LLC, for the construction of a speculative industrial /light-manufacturing facility. SVP Edward Notz handled the loan arrangements and closing.

The property is located at N17W25045 Bluemound Rd., a half mile northeast of the intersection of I-94 and Hwy 16 in Pewaukee, WI, 15 miles west of Milwaukee.

The new facility, which will encompass 42.7 acres, will have 218,000- square feet with 32-foot clear heights and parking stalls for 158 cars, 25 trucks and another eight ADA stalls. Completion is projected for the fourth quarter of 2021.

Lake Forest, IL-based Westminster Capital is a private real estate equity fund manager. Founded in 1988 by Rob Lansing, the firm has raised more than $800 million in capital across 15 private real estate equity funds, and invested in $3 billion-plus of real estate projects.

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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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