Newmark has closed 388,940 square feet of real estate transactions with Teel Plastics, LLC in Baraboo, Wisconsin.
These deals include the company’s new 180,000-square-foot lease at 1300 Sauk Ave. and the 208,940-square-foot, two-property sale-leaseback of 1060 Teel Court (139,090 square feet) and 426 Hitchcock Street (69,850 square feet).
Newmark Vice Chairman Andrew Sandquist, Managing Director JC Asensio and Associate Director Briggs Goldberg–in cooperation with Directors Travis Tiede and Adam Matson–represented the tenant, Teel Plastics, in both transactions. LCN Capital acquired the two-property industrial portfolio sale leaseback.
Teel Plastics–a technology-driven manufacturer of highly engineered and complex plastic components–creates roughly 120 million COVID-19 testing swab sticks monthly and was recently awarded a $6.8 million Department of Defense contract under the federal Health Care Enhancement Act to facilitate expanded production capacity and add between 30 and 50 employees.
A winner of Wisconsin Manufacturer of the Year in 2015, Teel Plastics serves the agriscience, laboratory sampling bags, medical, consumer cosmetics, water treatment, flex-film cores and industrial piping markets.