A 4.66-acre parcel of land in Fitchburg zoned for mixed-use development has been sold by Fairchild Development to Louisville, Kentucky-based Trilogy Health Services for $2.23 million.
The sale was announced Thursday by the commercial real estate and investment firm CBRE, which represented Trilogy, a developer of senior living communities.
The acquisition of the land, which is located at the northwest corner of County Highway MM and U.S. Highway 14 in Fitchburg, marks Trilogy’s third location in the greater Madison market.
The company owns senior living campuses in Waunakee and Sun Prairie.
The Fitchburg transaction is part of the larger Syncopation development, a $104 million mixed-use neighborhood in Fitchburg that will include Class A multifamily apartments, 12,000 square feet of commercial space and the Trilogy Senior Living Campus.
“This acquisition provides Trilogy Health Services with a prime long-term location and will greatly benefit Fitchburg’s rapidly growing community,” Gretchen Richards, a vice president in CBRE’s Madison office, said in a press release. “We have great confidence in Trilogy’s vision for the site and look forward to seeing that specific vision come to life.”
