Commercial real estate services firm Cushman & Wakefield represented Bridge Development Partners in the acquisition and subsequent sale of an approximately 200-acre farmland parcel in Kenosha. The purchaser, shipping supply company Uline, will develop a new Midwest distribution facility there.
Located at the interchange of Highway 142 & Interstate-94, the property will house a 1 million-square-foot warehouse and a 50,000-square-foot office building. As part of the sale agreement with Uline, Bridge Development will complete site infrastructure improvements, including roads, sewer and water.
Whit Heitman of Cushman & Wakefield’s Chicago office spearheaded the transactions. Bridge Development also plans to develop an additional 300 acres adjacent to the Uline property; Heitman, along with Sam Badger and Brad Weiner are serving as the exclusive marketing agents for Bridge Development.
“Kenosha is quickly emerging as a sought-after extension of the regional industrial market,” Heitman noted. “This location – which sits mid-way between Milwaukee and Chicago – is particularly well-suited for large-scale distribution and manufacturing operations looking to leverage excellent highway infrastructure and the market’s deep labor pool.”
Cushman & Wakefield’s industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In the U.S. alone in 2013, this group completed nearly 6,700 industrial real estate transactions (excluding Capital Markets transactions) totaling 238.74 million square feet. The aggregate value of these transactions was greater than $7.34 billion.
