Indianapolis-based pharmaceutical giant
Eli Lilly and Company has purchased 30.9 acres of vacant land to the north and to the south of the 323,930-square-foot industrial building that it recently acquired in the Village of Bristol, according to state records.
The company paid $10.2 million for the land, according to the state real estate transfer filing. It paid $40.8 million for the 323,930-square-foot building, located on a 21.6-acre site at 10121 136th Ave. in the Bristol Business Park.
The building and the land was sold to Eli Lilly by an affiliate of Riverwoods, Illinois-based commercial real estate firm
Janko Group.
The property acquisitions by Eli Lilly in Bristol create a 52.5-acre site for the company, located northeast of 136th Avenue (County Highway U) and 104th Street (County Highway Q). The site provides room to expand the 323,930-square-foot building or add additional development.
A spokesperson for Eli Lilly could not immediately be reached for comment.
The site is also just west of the 100,000-square-foot former
Nexus Pharmaceuticals manufacturing facility at 10300 128th Ave. in Pleasant Prairie,
which Eli Lilly acquired earlier this year. In August the company disclosed that it paid $924.7 million, net of cash acquired, to the entities that owned the assets of the Nexus Pharmaceuticals facility. According to an Eli Lilly securities filing, the purchase price included $108.5 million for the property and equipment and $816.5 million for goodwill. Eli Lilly attributed the goodwill “to the synergies between the manufacturing capabilities of the site and our products as well as the assembled workforce of the site.”
Eli Lilly said in April it would use the Nexus Pharmaceuticals plant to expand its global parenteral or injectable product manufacturing network.
Nexus initially invested $100 million to open the plant in 2021.
The Eli Lilly site in Bristol is also located just west of where
Uline is building a 366,000-square-foot, three-story office building near its corporate headquarters complex in Pleasant Prairie. The building will be built a 44.8-acre site at 9900 128
th Ave. in the Prairie Highlands Corporate Park. The facility could house up to 1,300 employees. Construction is expected to be completed by the spring of 2026.
