Coldwell Banker Commercial represented ownership in the sale of a 305,000-square-foot industrial manufacturing building in Janesville, Wisconsin.
Hufcor, founded in 1900, designs and manufactures operable partitions across the globe. The Hufcor business was sold to a private equity firm in 2017, but then current owner Borden Family Trust retained the real estate.
The property is located at 2101 Kennedy Road and is made up of industrial space and 65,000 square feet of office mezzanine space. Built in the 1960s, the property has 24-foot clearance in the warehouse, six exterior docks and three drive-in doors. The Hufcor building is within the Kennedy Road Industrial Park.
Badger Property Investors is the buyer of the property. The property sold for $7.9 million and a 9.8 percent cap rate.
Bill Mears with Coldwell Banker Commercial McGuire Mears was the brokerage professional representing the seller and the buyer in this transaction.