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Madison-Based Firm Buys Foreclosed Franklin Office Buildings

May 28, 2011

May 26, 2011 (Franklin, WI) – Madison-based Sara Investment Real Estate has acquired its second foreclosed property this month. Sara paid $5.5 million for Franklin Corporate Center, a two-building 64,000 SF development located at 9779 S. Franklin Drive. The seller, Foundations Bank, also acted as the lender in the transaction.

 

The development has 11 existing office tenants and 16,300 square feet remain available for lease. In addition, 1.5 of the site’s 7.4 acres are available as vacant surplus land. Sara is considering the sale of this land or the addition of a third building.

 

Sara Investment Real Estate owns and operates over 50 retail, office and industrial properties across the state of Wisconsin.

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