"Murray services a lot of food companies in the Midwest,including Hormel, which is located in Beloit," says Gary Seidelwith Beloit-based Point ONE Commercial Real Estate, whichrepresented Kerry in the sale. "It's a good building for a goodprice, and closeness to an existing client." Murray Enterprises wasrepresented in the deal by Andy Doyle of NAI Ruhl & RuhlCommercial Co., based in the Quad Cities.

The building, three miles west of interstates 39 and 90, offers22-foot clear height, 15 docks, rail access, and cold-storage andfront office space. Kerry had owned the property, which was listedfor sale at $2.5 million, since 1995. The company sold it withplans to move into a new headquarters at its building at theintersection of interstates 90 and 43. The 200,000-square-footfacility will be completed soon, and the company is expected tomove in during the first quarter of 2009.

The warehouse is located in southern Wisconsin. "Surprisingly,the submarket is holding it's own ground," Seidel tellsGlobeSt.com. "We never experienced the high run-up in pricesexperienced in the Chicago area. We're not seeing the price cuttingwe're seeing in the Chicago area, but we're experiencing the samemarket conditions everyone across the country is experiencing."