Kurt Welton, President
***FOR IMMEDIATE RELEASE***
Madison, WI – On Wednesday, June 29, T. Wall Properties purchased High Point Office Park from Welton Enterprises.
High Point Office Park contains 11 buildings and has direct frontage on the West Beltline Highway. The buildings account for roughly 234,000 square feet of office space and are currently 85% leased. The office park was purchased for an undisclosed selling price.
T. Wall Properties also purchased 1224 Deming Way from Welton Enterprises. This 36,000 square foot building is located in Old Sauk Trails and is currently 100% leased.
T. Wall Properties gained over 50 new customers through this transaction including companies such as the FBI, IRS, UW Health, American Express and the AC Nielsen Company.
Terrence Wall, President of T. Wall Properties said, “This transaction was made possible because of our successful private offerings and last year’s sale of our retail centers.” T. Wall Properties recently completed a successful third equity offering, raising $14.1 million, which was double the company’s original goal, and increased its investor count to 147 people.
T. Wall Properties has also been very active in the acquisitions market. Earlier this year, the company purchased two office buildings in the Old Sauk Trails Office Park and with the purchase of High Point Office Park; T. Wall Properties significantly increased its square footage on the west side of Madison, from 532,000 to 766,000 square feet making it one of the largest office portfolios on the west side.
Kurt Welton, President of Welton Enterprises, said, “Our decision to sell High Point Office Park was part of a long range strategic planning process to divest ourselves of our non-industrial properties, which represents less than 20% of our total portfolio. We want to focus on being Madison’s industrial, manufacturing, and warehouse real estate market leader.” This sale will allow Welton Enterprises to expand its core business and at the same time develop its three major business communities, East Metro, West Metro, and Silicon Prairie ™ Business Park.
If you would like more information on T. Wall Properties’ locations or investment opportunities, please call 608-241-2100. Or if you would like information on Welton Enterprises’ locations, please call 608-833-5590.