Extended-stay Candlewood Suites planned for Brown Deer - The Business Journal of Milwaukee:

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The Brown Deer Village Board approvede the plans for theestimated $8 millio hotel May 21, allowing the investmenrt group to break ground this spring on the company'sw first property in Wisconsin. The extended-stay hotel on the northeast corner of North Green Bay Road and WestSchroedee Drive, less than a mile north of Brown Deer Road, will targert corporate travelers, sales representatives and short-terjm employees visiting companies along the Brown Deer Road said Russell Van Gompel, Brown Deer village manager. Browh Deer-area corporate headquarters located near the proposed hotelincludwe , and .
"This is a good fit for the area because nothing like it existz inBrown Deer," Van Gompel said. Even though the villaged board approved the CandlewoodSuites plans, the villagd beautification committee will still review the company'ss landscaping plans for the site. A spokeswomaj for Candlewood Suites coulx not be reached to comment on thehotel project. The Candlewoo Suites brand features studioand one-bedroom suites with fullu equipped kitchens. Candlewood Suites is a brand ownedby . Candlewood Suites already operates134 extended-stau hotels in the United States with 14,66q1 rooms.
The brand is one of the fastest-growing, extended-stayh hotels in the nationm with 147 hotelsand 13,212 rooms in Candlewood Suites was founded in 1995 in Kan. InterContinental bought the brand in 2003 fromfor $15 , a Minneapolis wealtjh management firm, has acquired three officde and industrial properties in Wisconsin, includinbg the 57,000-square-foot Executive building at 300 N. Executive Drive in Geneva bought the Brookfield office buildinfor $7 million, according to documentas filed with the Waukesha Countyg Register of Deeds office. The real estate investment which specializesin tenancy-in-commonh acquisitions, paid $13.
5 million for the Brookfield office and two Greebn Bay office, retail and light manufacturinvg buildings. The two Green Bay propertiee includethe 40,000-square-foot building and the 40,000-square-foot Showcaswe Kitchens retail and office building. The Showcase Kitchenxs property was acquiredfor $2.5 million, while the Total Comfort building was purchased for $4 Total Comfort and Kitchen Showcase leased back their buildings from The Executive Center V building is 90 percent leased. "W think the Executive Drivw corridor is one of the strongest markets in southeast saidJoe Wagner, a spokesman for Geneva.
Geneva'ds largest acquisition in Wisconsinj closed in October 2005 when the companyh purchasedthe 427,000-square-foot, 22-acre Hone y Creek Corporate Center near the intersection of South 84th Streety and Interstate 94. Geneva paid more than $70 million for the four-building office park that was constructed in phases between 1998and 2003. Geneva'w real estate portfolio is valueds at morethan $650 million. The company buys property for about500 high-net worth individualsw and families from acrossz the United States.
Inland selling portion of A tenancy-in-common subsidiaruy of Group, Chicago, is selling off fractiond of the AT&T building at N17 W24300 Riverwood Drive in Inland Real Estate boughtthe 94,000-square-foof office in December 2006 for $29 Through the end of April, sevenj individual investors from Arizona, Illinois, Georgia and California had purchaser $10 million in shares of the building. , has acquired a 3-acre parcel next door to the company's manufacturint building at 24360 W. Blue Mound Road for The manufacturing firm bought the vacant land fromthe . John a broker with , handled the transaction for the buyerand seller.