June 12, 2019
Wisconsin-based companies Compass Properties and Vario Equity recently acquired two Class A office buildings located in Madison, WI’s American Center Business Park.
The 4600 American Pkwy. and 5133 West Terr. buildings were purchased from American Family Insurance in an off-market deal for approximately $19 million, according to Compass Properties President Tyler Noel. American Family Insurance had recently completed an extensive capital improvement program at both properties.
Vario Equity, a recently formed, Madison-based private equity firm that invests in Wisconsin-based real estate assets, is the lessor of the properties. Compass will provide property management and development services.
“This was a great opportunity to acquire two properties that provide Class A office space inventory in one of Madison’s premier office parks,” said Eric Heiting, Vario’s managing director. “The Madison office market continues to be very strong, with some of the lowest vacancy rates in the Midwest.“
Pictured: 5133 West Terr.
For comments, questions or concerns, please contact Paul Bubny