Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-HSA Commercial Real Estate and Morgan Realty Partners have teamed up to buy TIAA/CREF’s 10-building, 717,717-sf Brown Deer Business Park in suburban Milwaukee, which for the former company is the second large deal north of the state line this year. HSA Commercial Real Estate acquired a 195,000-sf industrial building in Glendale, another north suburb of Milwaukee.

The joint venture paid more than $25 million for the Milwaukee area’s first mixed-use business park, located just west of I-43 at the intersection of Brown Deer and Green Bay roads. A $6-million renovation helped TIAA/CREF capture the local BOMA Office Building of the Year award in 2001 and 2002.

“The acquisition of Brown Deer Business Park gives HSA instant recognition in the Milwaukee commercial real estate community,” says vice chairman and chief executive officer Robert E. Smietana, whose company was recently ranked the 18th largest industrial property owner in the US. “The strong tenant retention and replacement history demonstrates the desirability of the Brown Deer location and creates all the components of success that meet HSA’s acquisition criteria.”

The Polacheck Co. executive vice president Bill Bonifas and a CB Richard Ellis team represented TIAA/CREF in negotiations with David Lange CCIM, vice president of Brookfield, WI-based Apex Commercial, Inc.

HSA Commercial Real Estate general manager Dion Watton will lead a new on-site management team. However, the Polacheck Co.’s Roger Siegel and Scott Frumaski are being kept on as leasing agents.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.