Astronautics Corp.’s former north side headquarters sold
Local investors group pays $700,000 for site
Astronautics Corp. of America's former north side Milwaukee headquarters has been sold to a local real estate investors group, which is considering uses for the site.
The three-story, 115,000-squarefoot office building, and its parking lots, were sold for $700,000 to Teutonia Property LLC, according to state real estate records posted online Monday.
Brookfield-based Teutonia Property's registered agent, Bachan Singh, owns dozens of gas stations and convenience stores and other properties.
The new owners are considering various uses for the site, said Amit Ray, the group's representative. He said the group also is consulting with city officials.
“Nothing is final yet,” Ray told the Journal Sentinel.
Singh's other properties including a downtown office building at 804 N. Milwaukee St., according to assessment records.
One of his investment groups owned an underused office tower, at 700 N. Water St., which was sold in 2016 to St. Louis-based Drury Hotels LLC. Drury converted the property into a hotel that opened in 2019.
The former Astronautics property includes 240 parking spaces, according to Cushman & Wakefield/Boerke Co., the commercial real estate brokerage firm that represented the seller.
The firm listed the sale price at $900,000.
Astronautics in 2019 moved its headquarters from Milwaukee to 135 W. Forest Hill Ave., Oak Creek.
Astronautics, which makes aircraft navigation equipment, also said it would move its other Milwaukee operations, at 1412-1426 W. National Ave. and 135 E. Washington St., to Oak Creek.
The Washington Street building is being considered for possible conversion to office use, according to a new filing with the city Department of Neighborhood Services. That filing didn't provide additional details.