CITY OF PEWAUKEE
Former American TV warehouses sold for $14.3 million


By BRANDON ANDEREGG - Freeman Staff

December 30, 2018

                   

The American TV & Appliance old distribution center buildings currently house Zero Zone Inc. and Quad/Graphics and can be seen from Redford Boulevard in the City of Pewaukee.

Brandon Anderegg/Freeman Staff

CITY OF PEWAUKEE A real estate investment trust out of Boston purchased a parcel of land in the city with two warehouse buildings on the property for $14.3 million, according to state records.

Boston-based Stag Industrial Management LLC purchased the 24 acres of land at W227-N2837 and W228-N2801 Duplainville Road. State records indicate the company made the acquisition through a subsidiary.

The land is assessed at $12.7 million with an estimated fair market value of $14.1 million, according to Waukesha County property records.

The two warehouses are approximately 288,000 square feet both were previously occupied by American TV & Appliance before the company closed several locations across the state in February of 2014. Quad/Graphics Inc. occupies the 100,000 square foot building while Zero Zone Inc., headquarters in North Prairie, is leasing the approximately 188,000square foot building.

The more iconic City of Pewaukee American TV & Appliance buildings at W229-N1400 Westwood Drive were converted into Point Burger Bar, Veloce Indoor Speedway, SABR Laser Tag Pizzeria & Pub and Sky Zone Trampoline Park.

According to its website, Stag Industrial Management acquires and operates single-tenant industrial properties throughout the U.S. As of Sept. 30, the company is valued at $4.5 billion, owning 381 buildings in 37 states. A company representative did not respond to a request for comment.

Stag Industrial Management purchased the property from Westmoreland Co. Inc., a Huntsville, Alabama-based company. A company representative did not respond to a request for comment.

banderegg@conleynet.com 262-513-2657