Home Industries Real Estate Distribution center built for German company in Pleasant Prairie sold for $54.6...

Distribution center built for German company in Pleasant Prairie sold for $54.6 million

By
Andrew Weiland
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Rendering of the Fresenius Kabi plant in Pleasant Prairie. (Credit: Clayco)
Rendering of the Fresenius Kabi plant in Pleasant Prairie. (Credit: Clayco)

A 590,185-square-foot building built in Pleasant Prairie for Germany-based Fresenius Kabi has been sold in a $54.6 million deal, according to state records. The building, which sits on a 48.6-acre site at 11900 122nd St. was sold by an affiliate of Rosemont, Illinois-based Venture One Real Estate LLC to an affiliate of MetLife Investment Management.

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years before being promoted to editor in 2015. An award-winning journalist, Weiland is a five-time winner in the Milwaukee Press Club Excellence in Journalism Awards contest and a three-time winner in the Alliance of Area Business Publishers (AABP) Awards contest. He is also a regular guest on WISN-TV Channel 12's 4 p.m. newscast to discuss the week's most significant business news stories.
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A 590,185-square-foot building built in Pleasant Prairie for Germany-based Fresenius Kabi has been sold in a $54.6 million deal, according to state records. The building, which sits on a 48.6-acre site at 11900 122nd St. was sold by an affiliate of Rosemont, Illinois-based Venture One Real Estate LLC to an affiliate of MetLife Investment Management. Fresenius Kabi is a division of Germany-based Fresenius SE & Co. KGaA. Fresenius Kabi is a supplier of drugs and devices for infusion, transfusion and clinical nutrition. The company's U.S. headquarters is in Lake Zurich, Illinois. MetLife Investment Management is the institutional investment management business for New York-based MetLife Inc. The Fresenius Kabi building and its 48.6-acre site is part of the 116-acre Stateline 94 business park that Venture One Real Estate is developing east of I-94 between 104th Street (state Highway 165) and 122nd Street (country trunk Highway ML). The Fresenius Kabi building and its 48.6-acre site have an assessed value of $16.6 million, according to Kenosha County records. Plans for the building were announced last year. Construction of the building is nearly complete and Fresenius Kabi is expected to move into the facility soon. The company is expected to initially have 100 employees at the facility, according to a village staff report in 2019, with the workforce there growing to as high as 164 by 2028. The average wage of the employees is expected to be $54,065 a year, according to the report.

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