CHICAGO—The industrial market in the Chicago region has seenvery robust demand this year, but Southeast Wisconsin may be itshottest submarket. And more companies are stepping up to takeadvantage of its growing strength. Chicago-based BridgeDevelopment Partners, LLC, for example, has just started a400-acre business park in Kenosha County at Hwy.142 and I-94, across from the new 500,000-square-footAmazon.com fulfillment center. At the same time,Bridge sold 200 of the acres to Uline, Inc., andwill oversee the parcel's development.

|

Uline, the distributor of packing materials headquartered innearby Pleasant Prairie, WI, plans to build a nearly threemillion-square-foot campus, with initial plans for a onemillion-square-foot warehouse facility and 50,000-square-feet ofoffice and call center space. Uline plans to take occupancy inmid-2016. The firm will consolidate three facilities in Waukeganand North Chicago into this campus and move about 475 jobs.

|

“As Chicago continues to expand, the Kenosha area iswell-positioned for continued growth and job creation,” says Bridgeprincipal Tony Pricco. “The city ofKenosha and state of Wisconsin are verypro-business and aggressive in pulling companies across the stateline from Illinois. We anticipate a lot of activity for theremaining sites, especially for large users that are having a hardtime finding sites further south that can accommodate largebuildings with even larger future expansion needs.”

|

Industrial users have saturated this portion of the state. Justone year ago, the vacancy rate was an already-low 5.05% accordingto Colliers, but by this year's third quarter therate had plunged to just 3.74%. And development has also taken off.In the third quarter, builders finished 826,300-square-feet of newindustrial space. “This represents a 91.2% increase in constructionactivity from the 432,000-square-feet of new construction completedin the prior quarter,” Colliers found.

|

Cushman & Wakefield's Whit Heitman,Sam Badger and Brad Weinerrepresented Bridge in both the land acquisitions and sale to Uline.Keith Puritz, Brett Kroner,Ryan Bain and Zach Graham ofCBRE represented Uline.

|

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.