Last updated on May 15th, 2019 at 04:49 pm
A Boston-based real estate investment trust expanded its footprint in Wisconsin last week with the purchase of two industrial buildings totaling $14.8 million.
Stag Industrial Holdings LLC purchased a manufacturing building from FFII WI Oak Creek LLC located at 7475 S. Sixth Street in Oak Creek for $8.6 million, according to state records.
Independence Corrugated currently occupies the building, which is located on 5.7 acres. An employee, who did not give his name, said the company, which manufactures to-go boxes and home delivery containers, was not relocating.
The Oak Creek property is assessed by Milwaukee County for $5 million.
Stag Industrial Holdings also purchased a 105,637–square-foot industrial building at 8901 102nd St. in the LakeView Corporate Park in Pleasant Prairie for $6.2 million from FFII WI Pleasant Prairie LLC, according to state records.
The building is occupied by Hanna Cylinders. The property is assessed by Kenosha County for $4.6 million.
Representatives from Stag Industrial Holdings could not be reached for comment this week.
According to the company’s website, Stag specializes in acquiring single and two-tenant 100 percent occupied industrial buildings.
Stag currently owns 20 manufacturing and distribution warehouses in Wisconsin totaling 3.54 million square feet.