Former American TV warehouses sold for $14.3 million


Dec. 31, 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 188,000-square-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.