Doheny’s Inks $16M Sale Leaseback
STAG is looking into expanding the property this summer to include an additional 100,000 square feet.
PLEASANT PRAIRIE, WI—Doheny’s, a swimming pool supply company, has sold its 195,415-square-foot facility in a sale leaseback deal to Boston-based STAG Industrial Holdings. Terms of the lease were not disclosed.
“Doheny’s was able to take advantage of the strong momentum in the area industrial market with no disruptions to its operations,” said CBRE’s Sam Badger, who brokered the deal on behalf of Doheny’s along with Whit Heitman, Brad Weiner and Jared Paff.
STAG is looking into expanding the property this summer to include an additional 100,000 square feet. The space would then be available for lease in this popular industrial market.
“New ownership will benefit from expanding the property and realizing new rental income,” Badger said. “It was a win-win for everyone.”
This deal is indicative of the strong industrial market in this southeastern Wisconsin area.
“We are seeing a lot of activity in this market and we expect it to continue this year and into the foreseeable future,” Badger tells GlobeSt.com.
Earlier in the month, GlobeSt.com reported on another local industrial project – the Kenosha Commerce Center. Demolition began this month to clear the way for a 214-acre business park.