A rendering of the Somers Commerce Middle in Kenosha, Wis. Picture courtesy of Stream Realty Companions
Stream Realty Companions has acquired three parcels of land totaling 90.4 acres in Kenosha, Wis., for the event of an industrial park.
The Somers Commerce Middle at 10812 Burlington Highway will provide 934,505 sq. ft of Class An area. A Cushman & Wakefield group, led by Government Managing Director Eric Fischer, will deal with leasing on the three-building property. The positioning is positioned lower than 1 mile from Interstate 94 and gives direct entry to Chicago.
Patrick Russo, govt managing director & associate at Stream Chicago, sourced the location and, together with Drue Stoehr and Dale Todd, each senior administrators within the agency’s Industrial Improvement Companies Division, labored on assemblage, entitlements and shutting the deal. Stoehr and Todd will develop the land.
Kenosha’s rising industrial market
Transport and packaging materials firm Uline is increasing its campus in Kenosha, with the addition of 1.4 million sq. ft. The Kenosha space is a aggressive marketplace for industrial growth, with Kenosha County accounting for 4 million sq. ft of the roughly 7.8 million sq. ft of commercial house that was underneath growth within the Badger State on the finish of 2022, in accordance with a report by the Business Affiliation of Realtors Wisconsin.
Regardless of a slowdown in demand and transaction exercise for industrial actual property property, the economic sector stays comparatively wholesome, with asking rents on the rise and emptiness charges low. Nonetheless, demand is predicted to reasonable sooner or later, in accordance with CommercialEdge information.
Stream lately acquired Velocity II, a 297,607-square-foot, fully-occupied Class A industrial facility in Greer, S.C., for $29 million, and accomplished the second part of the Empire West Enterprise Park, a six-building, 2.3 million-square-foot industrial website in Brookshire, Texas, close to Houston.
