Bascom Group has partnered with Capital Trust Group to acquire a class A, 372,856-square-foot, cutting-edge, absolute net-lease build-to-suit research and development, manufacturing and testing facility and an adjacent 118,620-square-foot corporate office in the Milwaukee-area community of Menomonee Falls, Wis., for $100 million.
JLL worked on behalf of Bascom Group to arrange the joint venture partnership with The Capital Trust Group. Additionally, working on behalf of the new partnership, JLL placed a 10-year, 65 percent, LTV, CMBS, fixed-rate $63.7 million loan with Citigroup. This transaction marks Capital Trust Group’s first acquisition in the United States for over two decades.
The mission-critical facility was delivered in July 2020 as a build-to-suit for Leonardo DRS’ naval division, which already occupied the adjacent three-story office building beginning in 2019. The facility is used to design, test and produce naval and marine products for the U.S. Navy.
