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Sussex property to be sold, subdivided for development

July 16, 2014

By Tom Daykin of the Journal Sentinel

July 16, 2014 0

A large Sussex property is being sold and apparently will be split into smaller parcels for development purposes.

The 70-acre site, now zoned for farming, is owned by Basting LLC, operated by Delafield resident Ruth Basting, at the northwest corner of Highway 164 and Lisbon Road/Highway K, according to a village report.

Meijer Inc. is developing a 200,000-square-foot supermarket and discount store at the southeast corner of that intersection. The nearby farmland is being marketed as a commercial development opportunity, perhaps as a business park.

A request to split the property into two parcels of roughly 42 acres and 28 acres will be considered by a joint meeting of the Plan Commissions of Sussex and the Town of Lisbon, at a Thursday night meeting.

The developer who is purchasing the property, whom the village report doesn't name, wants to create two parcels "for financial reasons with the timing of the (purchase) closing," the report said.

The two parcels "will likely be subdivided in the future based upon a development plan proposed," the report said.

No rezoning request yet

A request to rezone the site hasn't yet been submitted to the village, said Kasey Fluet, Sussex assistant development director.

No additional land divisions should occur until the Plan Commission has approved a development plan for both parcels, the village report said.

The possible sale hasn't closed yet, said Dan Scardino of Point Real Estate, the property's listing agent. Scardino declined to identify the prospective buyer.

The parcel also is the subject of a lawsuit pending in Waukesha County Circuit Court.

Basting in May sued Keinert Family Limited Partnership No. 1, a Brookfield group led by Jay Keinert. The suit says an agreement to sell the land for $2.15 million was canceled in April by the prospective buyer because of a "title issue" created by Keinert.

Keinert couldn't be reached for comment Wednesday.

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About Tom Daykin

Tom Daykin covers commercial real estate and development.

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