PLEASANT PRAIRIE, WI-Sonopress, a provider of digital content production and delivery solutions for the music, entertainment, video game and software industries, has signed a long-term lease for 535,000 sf at 11500 80th Ave. The company is a division of avarto AG, which bought and renamed the former company in the building, Deluxe Media, as Sonopress.
Marat Safir, associate vice president with UGL Equis, says the firm was able to renegotiate the lease as part of the purchase of Deluxe Media. He represented the firm in the lease, along with VP Kane Kiernan. Safir wouldn't divulge the specific lease rate for this deal, but tells GlobeSt.com that "the average lease rate in the area is between $3.50 and $4.25." He says the lease allows the company to stay strategically located in the center of the country for its distribution, and joins the firm's manufacturing and packaging sites in Weaverville, NC and Louisville, KY.
David Bercu with Colliers Bennett & Kahnweiler handled the deal for Mercantile Bank, which represents the AFL-CIO, the group that owns the facility. The area is the site for much industrial and flex activity, as it is just north of Chicago but offers cheaper taxes and more incentives for new development. "A lot of businesses have gone north of the border," Safir says.
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