Milwaukee Brings in Outside Investors

Brown Deer Business Park in Brown Deer, WI.

MILWAUKEE—Hager Pacific Properties, a Newport Beach, CA-based privately owned real estate investment firm, has just invested $35 million in four strategic corporate real estate properties in CA and WI. The properties include Brown Deer Business Park, a 585,292 square foot complex on 32.41 acres in Brown Deer, a suburb of Milwaukee. This purchase by a significant coastal investor is a big vote of confidence in the Midwest city’s industrial market, and perhaps a sign that more capital is on the way.

“We would have been more careful about investing in Milwaukee a few years ago,” Rob Neal, managing partner of HPP, tells GlobeSt.com. “But we’ve seen very strong absorption in the Midwest, and Milwaukee itself has a really good occupancy rate; only about 7% of the space is vacant.”