Sales & Acquisitions
William Butcher has deep experience representing both buyers and sellers across a wide range of property classes with an emphasis on development, investment, multi-family, mixed-use, office, and industrial. His expertise includes land acquisition and has successfully represented many development land purchases including complex infill assemblages, entire block acquisitions, and suburban subdivisions. The majority of acquisitions William has represented have been off-market properties uncovered by personal inquiry, Sellers contacting me directly, and the fruits of many years building a local knowledge base and a reputation for fair dealing.
Acquisition: The 1000 Block of East Washington Avenue - Madison, WI
A full downtown city block formerly owned by Minnesota-based Land O Lakes corporation along with an infill parcel containing a car repair shop. This deal required more than 24 months (2013-2015) to negotiate and close, including entitlement and environmental hurdles. Today the site contains $120 million in real estate between the two new 11-story mixed-use projects. I also leased up the majority of both projects from 2017-2021 (excluding investor tenants and prior commitments), totalling 25,000SF of retail and 80,000SF office. Working with the astute ownership and management team at Stone House Development has been a foundational experience and continues to be a rewarding, and relentlessly expanding, relationship.
Acquisition: Development Site - Fair Oaks Avenue - Madison, WI
A former landscaping and nursery operation situated on a 1.5 ac corner lot. An acquaintance had this property under contract for over a year and, after encountering insurmountable obstacles, called me and asked if I had anyone mind for a higher and better use for the site As it happened, I did. The resulting mixed-use project incorporated an existing historic railroad siding building as a commercial condo attached to a new 4-story, 80-unit affordable housing development. Another Stone House Development success.
Acquisition: Mixed-Use Investment
A marquis Madison building adjacent to the capitol square including a landmark Madison restaurant on the main floor, below grade retail, and 16 units of apartments on 2nd and 3rd floors. The deal required financing that incorporated a post-close remodel of the residential units, which the Investor/buyer promptly accomplished, ultimately exceeding expectations and ROI.
Acquisition: Historic Adaptive Reuse
An all-brick former nickel-plating factory turned warehouse, this project necessitated an in-depth market study prior to purchase in order to establish potential revenue. Based on my experience, I suggested a somewhat unconventional retail use, given its location off the beaten path, that ultimately doubled the value of the property after factoring for acquisition, improvement, and leasing expenses. Signing the distillery tenant (Stateline Distillery) was a long and fruitful engagement that brought both tremendous value to the owners of the building but also helped to inspire smaller co-tenants to sign. Added bonus is that the distiller is a phenomenal addition to the craft beverage scene in Madison and beyond.
Acquisition: Historic Entertainment District Adaptive Reuse
A unique and historic metal Trachte building (a company indingenous to Madison) that required persistence over seven years of semi-annual negotiations. Persistence paid off for the eventual Buyer/Owner whose adaptive reuse of the property won the City's annual historic preservation award. The Tinsmith is the most distinctive event venue in Madison and perhaps the state. This project represented one of three successful and notable historic acquisition/reuse projects with common ownership and a representation partnership that continues to the present. In fact, Eric Welch and Jessica Wartenweiler have become close personal family friends with whom I am honored to partner on several enterprises including a new multi-family development on Madison's East side and a well-loved food brand Jessica started, built, and eventually sold to my daughters, Curd Girl.
Acquisition: Neighborhood
Mall Investment
A partially leased 25,000SF retail strip mall near-west Madison. After completing the lease up of all empty spaces and renegotiating all of the existing leases, I also sold this same property for the investor, who reaped a one year seven-figure return. The center was subsequently purchased and redeveloped, to mixed-use residential, notably retaining nearly all of the commercial tenants I had signed or resigned in the prior ownership cycle.
Acquisition: Historic Entertainment District Adaptive Reuse
The nondescript metal building housing a local window cleaning business at the edge of Williamson Street's burgeoning dining district was initially an acquisition target for demolition and multi-family redevelopment. However, after several unsuccessful attempts at redevelopment due to neighborhood opposition and entitlement obstacles the Sellers actually engaged me to represent them to both list and sell the historic property their business had outgrown and locate either an existing or new ground-up build opportunity to house their expanding family business. Over the years, like many of my client relationships, Tanya and Kash Weger have become dear friends and we continue to work together to realize their personal and professional real estate goals, including their new/current Madison Window Cleaning facility in Cottage Grove.
The eventual buyer converted the former ice-house turned window cleaning site into a unique stand alone office building now home to the advertising firm Stephan & Brady, under ownership of the same group responsible for Northern Court and The Tinsmith.
Acquisition: New Construction Office/Service
After, and in conjunction with, the sale of their facility on Dickinson St, I worked with Tanya and Kash Weger to complete the purchase and build of their new headquarters in Cottage Grove, WI. This represented another partnership with Madison Window Cleaning, 1848 Construction, and Elyse Smithback of Park Bank.
Acquisition: 10ac Suburban Multi-Family
Adjacent to two premier golf courses, this 10-ac site was designed by the developer for luxury townhomes, prior to which the process entailed successful annexation, rezoning, and conditional use.
Sale: 52-Unit Apartment Building, Milwaukee
A 7-story residential project with a top-floor commercial office condo. Understanding the sunset and transition period of a LIHTC project exiting the affordability term and calculating a blended CAP rate between current tenancy with primarily affordable units to a full market-rate project post-transition was critical to establishing value and navigating due diligence.
Sale: 292-ac Suburban Subdivision/Legacy Wildlife Area
In 2003, I was engaged to list and sell a spectacular piece of land adjacent to the City of Middleton with potential for several hundred luxury home lots. Ultimately I worked with the Seller who decided to sell (at over 50% of the offered rate for development land) the entire property to a consortium of land preservation entities including the Town of MIddleton, Dane County, and the WI Department of Natural Resources. Today is a cherished wildlife preserve and one Dane County's largest natural areas open to the public.
Sale: Infill development site
A compact infill lot with an older office building located in an historic district required detailed knowledge of the development process from infrastructure costs to zoning, planning, and development hurdles that would define the highest and best price based on maximum approvable density and construction costs.
Sale: 100+ lot single and multi-family subdivision
50ac ≈ purchase required attachment and annexation to City of Madison. The resulting subdivision included approximately 85 single-family lots of which I listed and sold roughly 50% with the developer retaining the balance.
Sale: 300+ acres trophy rural property
Original 19th century land grant farm included two sale phases; 2008- divided 40 acres into 3 rural residential view lots and, after working with Seller and the township/county, successfully divided, rezoned, and sold the three parcels, and; 2020-2021 Listed and sold the remaining farm. While the listing included working with the Seller to identify ideal land divisions and extensive planning with two separate townships to coordinate a 1 mile new road/driveway and lot divisions, successfully negotiated the sale of the entire farm to a single buyer whose intentions were to preserve the farm intact in perpetuity.
“In 2019 I was looking for a special and appropriate location for placement of Madison’s first cidery and tasting room. William helped me find the right location, helped to negotiate and structure the deal, coached me on what I should and shouldn’t be concerned about—all things you would expect a broker to do. William, however, went well beyond the expected. He helped me connect with a consultant who, in concert with William, helped me design and lay out my kitchen and bar areas. He connected me with the right contractor to do the build out and helped coach me through the process of purchasing my restaurant equipment and furnishings. William and I have remained friends and I will certainly use him for my next project.”
— John Biondi, The Cider Farm