Peter Ginn, regional director with the REIT's local office,tells GlobeSt.com that the previous tenant, Welsh Bindery Inc.,declared bankruptcy. "They basically left at the end of April, andwe were able to lease it up again," he says. The building has 5,000sf of office, nine docks, one overhead door and 18-foot clearheights.
The demand for industrial property is high in the WaukeshaCounty area of Milwaukee, Ginn says. "The market is vibrant, thevacancy rates run at less than 7%," he says. "It's hard to findland in Waukesha, but people are moving out here in the higher-endhomes, so company owners want to have their work close." The askingrate is about $4.25 per sf, triple net, and is more than $5 per sffor smaller properties, Ginn says.
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