Rosemont, Ill.-based Land and Lakes Development Company plans to develop a 60-acre industrial park in Mt. Pleasant, and plans to break ground this spring on a 132,000-square-foot speculative industrial building there.
The 60-acre site is located southeast of Highway 20 and International Drive. The property could support up to 800,000 square feet of industrial space development, said Land and Lakes Development President Marty Hanley.
The site is attractive because of its proximity to I-94, the recent addition of a traffic signal at Highway 20 and International Drive and the low industrial space vacancy rate in Racine County, Hanley said. Racine County has an industrial space vacancy rate of 4.5 percent, according to Xceligent. Southeastern Wisconsin has a 6.1 percent industrial space vacancy rate.
“(The site) really has a lot to offer,” Hanley said. “When we evaluated the market in Racine County for a new business park, we were amazed at how low the vacancy rate was for industrial buildings. We believe Racine County and the I-94 corridor will continue to be a magnet for business expansion and recruitment projects.”
The Racine County Economic Development Corp. has identified the shortage of business park land and buildings as a priority to be addressed, said Gordy Kacala, executive director of the RCEDC.
Land and Lakes hopes to build one building a year in the business park and the site likely has room for four buildings, depending on the size of tenants that commit, Hanley said.
