CBRE Arranges Sale of 3.29-Acre Redevelopment Site in Madison, Wisconsin

CBRE has announced the sale of a 3.29-acre infill redevelopment site in Madison. Kenosha, Wisconsin-based Bear Real Estate Group purchased the property from Madison-based BetterLife Insurance for $7.29 million.

CBRE’s Gretchen Richards, Matson Holbrook and Sean Beuche represented the seller in the transaction.

“Our responsibility is to put BetterLife’s resources to work for our members and the communities we serve,” said Chris Campbell, CEO of BetterLife. “This sale supports that commitment while creating an opportunity for much-needed housing in Madison. We’re pleased to see the property take on a new purpose that benefits the community.”

The site includes a 23,000-square-foot office building that will be redeveloped as part of a larger planned 302-unit multifamily project by Bear Real Estate Group.

"This is an exciting example of infill development,” said Richards. “Working with BetterLife to maximize the potential of their site benefits both the organization and the community at large. The end result brings much-needed housing to the Madison market and further enlivens this stretch of the Mineral Point Road corridor.”

Located at 6522 Grand Teton Plaza along Madison's Bus Rapid Transit corridor, the property offers convenient access to several major employment centers and amenities, including University Research Park, TruStage, UW Health, UW-Madison and West Towne Mall. The site also features prominent frontage along Mineral Point Road, one of Madison's primary east-west corridors.