Twin Disc's historic former headquarters campus in Racine is back on the market, two years after a deal to redevelop the property fell through.
Last month, Mequon-based
Paradigm Real Estate began marketing the 7-acre property for sale for $3.4 million.
The listing comes after Milwaukee developer
J. Jeffers & Co. reached an agreement with Twin Disc to purchase the property and redevelop it into housing in 2022. That deal
fell through later that year, however, and Twin Disc moved out of the facility as it consolidated operations farther west in Racine and moved its corporate team to Milwaukee.
The facility at 1328 Racine St. has about 182,000 square feet of space, about 68,000 of which is office space, according to Paradigm's listing, as well as three undeveloped outlots that could be used for parking or additional buildings.
Brian Parrish, chief executive officer of Paradigm, said the building is ideal for manufacturing or distribution users, with the city hoping to attract a "high end manufacturer."
"It could play well for a turnkey corporate headquarters," Parrish said. "There's immaculate offices that have been recently rehabbed, and then all the structure of the building is an excellent condition."
"But we don't want to put ourselves in a box," Parrish said, adding that the site could lend itself to adaptive reuse.
The building is located a couple of blocks away from SC Johnson and Modine Manufacturing Co.'s global headquarters, and not far from Microsoft's Mount Pleasant data center development, which are things Paradigm is emphasizing in its marketing.
"We've had a company inquire already who would be doing some ancillary services for the construction of the new data center," Parrish said. "We're hoping to target the supply chain for Microsoft, and Foxconn for that matter."
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Image from Paradigm Real Estate[/caption]
