An affiliate of Minneapolis-based Endeavor Development recently purchased a 13-acre site southeast of SE Frontage Road and Louis Sorenson Road in Mount Pleasant, according to state records.
The company plans to build a 204,000-square-foot industrial building on the site, said Brian Schack, development manager for Endeavor Development. Construction is expected to begin in the spring and be complete in the first quarter of 2023, he said.
The farmland was sold to Endeavor by Thomas S. Hall of Racine for $1 million, according to state records.
The site is near I-94 and is just northeast of the I-94 and Highway 11 interchange. Schack said his firm likes the site because it is highly visible from I-94 and has easy access to the interstate.
"It's a great area for this type of product," he said.
Endeavor Development specializes in industrial real estate development, investment and management. The firm is working on acquiring other sites in the Milwaukee area for spec industrial development projects, Schack said.
The I-94 North-South corridor between Milwaukee and the Illinois state line, a corridor that includes Mount Pleasant, remains a hot sport for industrial development with numerous projects that are either planned, under construction or have been completed recently.
The site purchased by Endeavor Development is near Enterprise Business Park, located northeast of Highway 11 (Durand Avenue) and International Drive. New York-based real estate investment company Ashley Capital recently announced that it plans to begin construction in April on two more speculative industrial buildings at Enterprise Business Park, where it has already built three buildings with more than 1.2 million square feet of space.