An affiliate of MLG Capital recently purchased 120 acres in Germantown, including a 103-acre site at W192 N10021 Appleton Ave. for $1,169,200, to develop the Willow Creek Business Park of Germantown.
Site grading and infrastructure work will begin soon, said Barry Chavin, principal of MLG Capital.
The first user to commit to the business park is TJ Hale, which will move to a 218,000-square-foot building that will built there.
The entire development could accommodate 500,000 to 600,000 square feet of development, Chavin said. The park could be expanded in yet to determine future phases, he said.
Demand for the park will be driven by the low vacancy rate and healthy absorption pace of the region’s industrial market. Chavin said two other users have expressed interest.
“There’s almost no vacancy (in the region’s industrial market),” Chavin said. “There’s very little product out there. You’re starting to see some new construction, finally.”
