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OAK CREEK, WI-Two tenants have signed for most of the 184,000 square feet of distribution space at First Industrial’s park here, in this south Milwaukee submarket, along Interstate 94. Regina USA Inc and We Energies have taken 145,000 square feet at the recently developed First Park Oak Creek. The park was constructed through the Development and Repositioning Joint Venture (FirstCal 1) with the California State Teachers’ Retirement System.

Regina, a maker of chains for motorcycles, industrial and conveyor applications, leased 64,000 square feet in building B. The company is relocating from a facility in Maryland, with financial incentives from Milwaukee 7, the regional economic development council.

We, a subsidiary of Wisconsin Energy Corp., took 81,000 square feet of distribution in building A. With the signing of the two leases, the park is 79% occupied, with about 39,000 square feet available. Average lease space for distribution is $4.25 per sf in the Milwaukee market, according to a Colliers International third quarter report.

Steve Stewart with Inland Cos., along with Roger Siegel and Scott Furmanski with CB Richard Ellis, assisted on both transactions. Tom Shepherd with Inland was also a part of the We lease. First Industrial owns, manages and is constructing 2.2 million square feet in Milwaukee, and has another 18 acres available for future development.

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