City of Industry, Calif.-based Majestic Realty Co., which is working on plans for industrial developments in Kenosha County, is also planning to develop a 57-acre business park in Caledonia, on County Highway K about two miles east of I-94. The location is the south side of Highway K, slightly east of Highway V.
The business park has the potential for 750,000 square feet of development.
Construction is expected to begin in spring on the first of three buidings planned in the business park. Occupancy is expected to be available by October.
The industrial real estate market is tight in Racine County, which has an industrial space vacancy rate of 4.5 percent, according to Xceligent. By comparison, southeastern Wisconsin has a 6.1 percent industrial space vacancy rate.
“With Racine County, we found a growing business community, solid partnerships and a healthy investment environment,” said Taylor Talt of Majestic Realty. “We are excited about the future of this development site.”
The project is another sign that development activity remains hot in the I-94 corridor between Milwaukee and Chicago, and is on the rise in Racine County.
“The Milwaukee/Chicago corridor continues to provide itself as a magnet for investment,” said Caledonia Village President Bob Bradley. “We are ready to make the necessary investments to welcome new development to our community.”
