Miniature Precision Components, Inc. (MPC), a provider of thermoplastic components, announced that it will lease 325,000 square feet at 2929 Venture Drive in Beloit Avenue Industrial Corridor in Janesville, Wis.
This lease, which commences on May 1, will allow MPC to expand its manufacturing and distribution capacities. Because of the technical nature of the company’s operations and its related customer approval processes, MPC’s Janesville facility is expected to become fully functional within 24 months.
Established in Walworth, Wis., in 1972, MPC is a privately held, full-service supplier of functional thermoplastic assemblies.
Tenant representation was provided by Chris Stecker, vice President with Siegel-Gallagher. Thomas Simon, first vice president with CBRE, represented the building owner, Helgesen Development Corporation.
A Tax Increment Finance package from the city of Janesville and an award from the Wisconsin Economic Development Corporation helped convince MPC to expand its Wisconsin holdings. These holdings include locations in Richland Center, Prairie Du Chien and the company’s Walworth headquarters facility.
According to James Otterstein, Rock County Economic Development Manager, “This lease represents an important milestone for the area, as well as the real estate community. During the last six months, approximately 850,000 square feet of vacant industrial/warehouse space has been leased or purchased. These recent projects, as well as those previously announced, demonstrate that the Janesville-Beloit MSA economy is continually repositioning and revitalizing itself.”
