Colliers‘ Jeff Devine and Steve Disse represented Janko Group, a 30-year-old real estate company that invest across multiple product types and geographic areas, in the sale of Zebra Technologies Distribution Center in Bristol, Wisconsin, to EQT Exeter for an undisclosed price.
The 396,508-square-foot, Class-A logistics center is located west of the first full interchange at Interstate 94 and 104th Street, just north of the Illinois state border. The building is well positioned on the south end of the booming I-94/Southeast Wisconsin industrial submarket that connects to Chicago’s northern suburbs and the Milwaukee MSA.
Built on spec basis and delivered in 2021, the fully air conditioned, state-of-the-art building is cross docked with 36’ ceiling height and 74 trailer parking spots. The site has foreign trade zone status. Zebra Technologies, a world leader in innovative digital solutions, hardware and software, has leased 100% of the facility.
“In an environment full of uncertainty, this was a chance to purchase a best-in-class asset with a very dependable income stream,” said Devine, vice chairman and principal with Colliers’ Chicago office. “The buyer has great experience investing in the greater Chicago industrial market and took the opportunity to add this to their growing portfolio.”
At the end of 2022, the Southeast Wisconsin vacancy rate stood at 7.83 percent. Net absorption totaled a record 4.7 million square feet during 2022. This significant demand was due to a large amount of new leasing activity and the completion of several build-to-suit facilities totaling 1.1 million square feet.
