Avison Young brokered the sale of 10490 88th Ave. in Pleasant Prairie, Wisconsin, a 200,696-square-foot, state-of-the-art food production facility located within LakeView Corporate Park.
The property was acquired by Royal Oak Realty Trust, a New York-based real estate investment trust (REIT).
The transaction was facilitated by Avison Young’s U.S. Industrial Capital Markets team, led by Erik Foster, Principal and Leader, U.S. Industrial Capital Markets, and Mike Wilson, Principal. Foster and Wilson are based in the firm’s Chicago office and represented the seller, EQT Real Estate.
Located between Chicago and Milwaukee, Pleasant Prairie has become one of the Midwest’s premier industrial markets, attracting national occupiers seeking access to major transportation networks and a growing labor pool.
Constructed in 2017, the institutional-quality facility is fully leased to a leading national bakery products supplier and serves as a mission-critical component of the tenant’s production and distribution network. The property features modern food-grade infrastructure designed to support high-volume manufacturing operations and is backed by a long-term lease.
