LCM Funds Real Estate Buys Western Racquet Club in New Berlin
Founders 3 Real Estate Services Recent Transaction – 2900 S 163rd Street, New Berlin, WI
An affiliate of Milwaukee investor, LCM Funds Real Estate LLC, purchased Western Racquet Club’s 58,320 SF facility located at 2900 S 163rd Street in New Berlin for $1,700,000 with plans to renovate and re-lease the property. The building will be partially occupied by UNITS Moving and Portable Storage; who will be relocating from its current location at 4480 N 124th Street in Wauwatosa. Brett Deter, an industrial specialist at Founders 3 Real Estate Services, represented the Buyer and Lessee.
About Founders 3: Known as Founders 3, the new commercial real estate firm combines the resources of Commercial Property Associates, Inc., RFP Commercial, Inc., and Siegel-Gallagher Management Co. All three companies have deep local roots with a wealth of experience in the key areas of retail, office, industrial, and investment sales brokerage, along with property management. The new firm was launched in June 2017 and is comprised of 12 principals and over 230 Milwaukee area employees. For more information, visit founders3.com.