An affiliate of Lake Forest, Illinois-based Westminster Capital LLC has acquired a 42.5-acre site in Pewaukee, where a 218,000-square-foot industrial facility is to be developed.
The Westminster affiliate, WRP Pewaukee LLC, acquired the land at N17 W25045 Bluemound Road for $2.24 million, according to state records. The site is situated west of Bluemound Road, north of I-94 and east of Highway 16.
Earlier this year, Brookfield-based Briohn Building Corp. presented to the city for various approvals development plans for the multi-tenant building at the site. The plans do not identify a specific user. It is expected to be used for manufacturing, storage and business offices, the plans state.
A project site plan secured approval in September from the city's Plan Commission. A certified survey map was approved in early October by the Common Council, said Nick Fuchs, Pewaukee planner and community development director.
The site is currently farmland, with one single-family home.
A representative of Westminster did not immediately respond to a request for comment.
This is only the latest industrial project that Westminster and Briohn are working on together in Waukesha County. Westminster recently developed a 192,800-square-foot facility on Woods Edge Drive in New Berlin. It's also developing a similarly sized industrial building on Small Road in New Berlin.