EQT Exeter spends $345 million on properties in LakeView Corporate Park

A Penssylvania-based real estate investment firm has purhcased roughly 342 acres at the LakeView Corporate Park for off Interstate 94 for more than $297 million. One of the properties is home to a sprawling Uline warehouse. (Photo courtesy of Google Street View)

Last updated on August 2nd, 2022 at 01:52 pm

A Pennsylvania-based real estate investment firm has purchased roughly 351 acres and a number of buildings at the LakeView Corporate Park along I-94 for more than $345 million.

Limited liability companies affiliated with EQT Exeter Group of Conshohocken, Pennsylvania purchased 12 parcels in the business park, about half of which contain existing buildings, last week. The parcels, which are mostly located south of the former We Energies Power plant on 95th Street, north of 116th Street and between the Canadian Pacific and Union Pacific train tracks in entirely industrial part of the village, were sold by limited liabilities affiliated with CenterPoint Properties of Northbrook, Illinois.

Although the deal includes about six vacant parcels, Pleasant Prairie community development director Jean Werbie-Harris said Thursday that CenterPoint did have conceptual plans in place to construct spec industrial buildings on those properties. Werbie-Harris said she wasn’t sure, however, when EQT Exeter would be  developing those sites, however.

“We are not yet sure what their timeline is, but we feel this is an incredible opportunity for the village,” she said.

Properties in the series of deals included:

  • 8500 109th St., a 736,205-square-foot building leased by aluminum distributor Ta Chen, for $81 million,
  • 11400 88th Ave., a 601,926-square-foot building leased by Uline, for $54.5 million,
  • 8495 116th St, a 520,860-square-foot building leased by Uline, for $47.4 million,
  • 11290 80th Ave., a 502,033-square-foot building leased by Uline, for $43 million,
  • 11559 80th Ave. a 417,384-square-foot building leased by Uline, for $39.1 million,
  • 10490 88th Ave., a 200,696-square-foot building home to Crown Bakeries, for $27 million.

EQT Exeter and CenterPoint Properties did not respond to requests for comment.

Editor’s Note: This story has been updated to reflect additional transactions posted to state Department of Revenue website after publication.

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Cara covers commercial and residential real estate. She has an extensive background in local government reporting and hopes to use her experience writing about both urban and rural redevelopment to better inform readers. Cara lives in Waukesha with her husband, a teenager, a toddler, a dog named Neutron, a bird named Potter, and a lizard named Peyoye. She loves music, food, and comedy, but not necessarily in that order.

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