Ludman Industries, a manufacturer of compactors, granulators flaking and shredding mills, announced that it will move its entire operation from Muskego to an 81,000-square-foot building at 4810 N. 124th St. in Milwaukee by the end of the year.
The Milwaukee building was previously occupied by Great Lakes Contracting Inc., which went out of business about nine months ago. The building is owned by a group of local investors, which was represented by Sam Dickman Jr. of The Dickman Company.
Ludman will quadruple its space with the move. The company has about 18,000 square feet of space at its facility in Muskego.
In making the move, Ludman Industries will absorb 63,000 square feet of industrial space, adding to the gains made this year in the Milwaukee industrial real estate market. During the first three quarters of the year 2.87 million square feet of industrial space was absorbed in the Milwaukee area, and the vacancy rate has fallen from 9.2 percent a year ago to 7.6 percent, according to Xceligent Inc.
"Due to an explosive growth in the mining sector, mainly in the potash and salt areas, Ludman Industries is experiencing a high growth in the mining division; therefore, this move will enable our office, design, testing, repair and manufacturing areas to increase in size and productivity," said James Lenahan, president and chief executive officer of Ludman Industries. “Our new location and enhanced operational efficiencies will help us continue to grow and evolve to keep pace with our client’s needs, allowing us to provide exceptional value and superior service.”
The company plans to do some renovations to the Milwaukee facility but, "the bones of the building are fantastic," said James Young of Cassidy Turley Barry, who brokered the deal for Ludman.
The building is about 40 years old and has 40-ton, 20-ton and 10-ton overhead cranes, Young said. The overhead cranes are a unique attribute for a building for this size, he said.
“You see cranes in 300,000-square-foot buildings,” Young said. “You usually don’t see that in a building that’s 81,000 square feet.”
Once the renovations are complete the building will feature a state-of-the-art manufacturing, machining and assembly facility and testing lab, Ludman Industries said.
Meanwhile, Young is marketing Ludman Industries’ building at S82 W18664 Gemini Dr., Muskego, for sale or lease.
“The building is expandable on over three acres and will be vacant prior to the end of 2011,” he said.