Deal of the week

Maysteel to lease plant in Mount Pleasant
Maysteel LLC
, which recently announced it will close its Menomonee Falls plant, eliminating 190 jobs, today said it has signed a new lease with HSA Commercial Real Estate and plans to move into a new assembly facility in Mount Pleasant by the end of November.

The 40,772-square-foot facility is located at 1400 International Drive in Mount Pleasant and is part of the multi-use Park 94 business development.

Maysteel has been working closely with the Racine County Economic Development Corp. on the venture and is currently working with the Racine County Workforce Development Center on the selection and application process.

For the lease, Maysteel was represented by Sam Dickman Sr. of The Dickman Company. HSA was represented by Kenneth Braden of Colliers Barry and brokers with Chicago-based Colliers Bennett & Kahnweiler.

The company plans to initially hire approximately 30 assemblers at the Mount Pleasant plant.

Maysteel is shifting much of its production to a 160,000-square-foot metal fabrication plant in Creedmoor, N.C.

Since 1965, Maysteel has been privately owned by the U.S.-based Everett Smith Group, Ltd., which has operations in the United States, United Kingdom, Mexico, South Africa, Argentina and Hungary.

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