Milwaukee-based Skyline Development Corp. plans to build a 56,000-sqaure-foot industrial building on a vacant 5.5-acre site at the southeast corner of Donges Bay Road and Fond du Lac Avenue intersection in Germantown. The site is part of a 12-acre parcel purchased by Skyline in 1998.
An employee for Skyline declined to say who the tenant for the project would be.
“Everything is very, very unsure,” she said. “It’s just in very, very early stages.”
A village employee said the company has not disclosed the name of any potential tenant for the building.
The project is the latest example of developers planning new industrial buildings in the metro Milwaukee area, in an attempt to take advantage of the region’s healty industrial real estate market. The industrial real estate market in the metro Milwaukee area has been in a recovery mode for more than three years, posting 13 consecutive quarters of positive absorption and a vacancy rate that has fallen from about 9.75 percent in late 2008 to 6.6 percent in the second quarter of this year, according to Xceligent.
Several new industrial buildings have been proposed in Pewaukee, but Washington County and Ozaukee County are also poised to attract new industrial development, said James T. Barry III, president of Cassidy Turley Barry.
Washington County had a 5.1 percent industrial space vacancy rate in the second quarter and absorbed 71,586 square feet of industrial space in the first half of the year, according to Xceligent.