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MILWAUKEE-Bentley World Packaging Ltd., a provider of packaging, warehouse and distribution services, has sold its 270,000-sf manufacturing facility here in a sale-leaseback deal to STAG Capital Partners for $6.6 million. The building, on 15 acres of property, is at 200 W. Capitol Dr.

Bentley occupies 100% of the building, and was an attractive property to STAG, says Brad Sweeney with the acquisitions company. “We like the location,” he says. “It’s near the Glendale Industrial Business Park, and less than a mile east of I-43, a major north-south corridor,” he says.

Sweeney did not want to divulge the exact lease rates the company signed with Bentley, but he says the average industrial rates in the area are between $2.50 to $4.50 per sf. “There’s a multitude of product types in that market,” he says. His company also likes the Milwaukee market, Sweeney says. “I would characterize the area as relatively stable. It doesn’t seem to get ahead of itself, and when things turn down it does get beat up as badly as other markets,” he tells GlobeSt.com.

Sweeney says he doesn’t know Bentley’s plans for the purchase cash. He and Patrick Brown represented STAG in the deal, while Kevin Barry with Colliers Barry represented Bentley.

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