Pleasant Prairie continues to be a hotbed of speculative industrial development. A joint venture of Milwaukee-based Wispark LLC and Oak Brook, Ill.-based CenterPoint Properties plans to build a pair of large spec industrial buildings in the Kenosha County village.
Centerpoint WisPark Land Company II LLC has submitted plans to the village for a 521,000-square-foot speculative industrial building and a 412,000-square-foot speculative industrial building southeast of 116th Street and 88th Avenue.
The buildings would be an addition to the LakeView Corporate Park in Pleasant Prairie.
The two buildings planned by Centerpoint Wispark demonstrate the strong performance of the Kenosha County industrial real estate market, particularly in Pleasant Prairie, in recent years as development pressure from the Chicago area continues to push northward. Kenosha County has a 4.2 percent industrial space vacancy rate and the county absorbed 77,597 square feet of industrial space in the first quarter of 2014 after absorbing 1.66 million square feet of industrial space in 2013, according to Xceligent.
Meanwhile, City of Industry, Calif.-based Majetic Realty Company is asking Pleasant Praire officials for a one-year extension for village approval for its plans to build a 1.18 million-square-foot distribution center on a 91-acre site southeast of Bain Station Road and 88th Avenue.