Interstate Partners plans spec building in Pewaukee

Construction likely in 2017

Commercial real estate development firm Interstate Partners LLC plans to build a 138,852-square-foot speculative industrial building in the City of Pewaukee.

Interstate Partners is proposing the building on vacant property on the south side of Green Road, across from the Old Fire Station #3.

Bill Schwartz, director of development, with Interstate Partners, said construction will not begin until 2017, unless a user is interested that would accelerate development.

“This s purely conceptual,” Schwartz said. “If the market continues as is, we will move forward with a spec building. We are marketing it, but it will more than likely be 2017 before we move forward.”

The building will include 15,000 square feet for office and 123,852 square feet for storage or production, according to the village.

Formed in 200 to acquire, develop and manage real estate properties in the Midwest, Interstate Partners has more than 50 buildings totaling five million square feet of office, warehouse, service center, medical office, and retail space, according to its website.

The company has offices in Waukesha, Eden Prairie, Minn., and Gilberts, Ill.

The plan commission will consider the proposal March 17.

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