Home Industries Nonprofit 190,000-square-foot spec industrial building planned in Oak Creek

190,000-square-foot spec industrial building planned in Oak Creek

By
Hunter Turpin
-
Rendering from Capstone Quadrangle

A developer is planning to build a new 190,000-square-foot speculative industrial building in Oak Creek. Pewaukee-based Capstone Quadrangle purchased the 11-acre site at 9955 S. 13th St. in 2019 for $1.3 million and is now finalizing agreements with the city to start construction there. The 190,000-square-foot industrial building would be added to the existing Creekside

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Hunter Turpin
http://www.biztimes.com
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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A developer is planning to build a new 190,000-square-foot speculative industrial building in Oak Creek. Pewaukee-based Capstone Quadrangle purchased the 11-acre site at 9955 S. 13th St. in 2019 for $1.3 million and is now finalizing agreements with the city to start construction there. The 190,000-square-foot industrial building would be added to the existing Creekside Corporate Park, where Capstone has developed other industrial buildings. Creekside Corporate Park is located across the street from Amazon's 2.5 million-square-foot warehouse and distribution center and Ryan Business Park, where Capstone also owns vacant land. Michael Faber, founder and principal of Capstone, said that construction could start late this summer at the earliest or, if not this year, next construction season. "The biggest challenge is the debt markets, so being able to get a loan for 50% to 60% of the building is a challenge," Faber told the Oak Creek Plan Commission last month. The building, which will be marketed by Cushman & Wakefield | The Boerke Company, is speculative and is divisible to 25,000 square feet, Faber told BizTimes.

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