Home Industries Real Estate Pleasant Prairie industrial building sold for $20 million

Pleasant Prairie industrial building sold for $20 million

Mondi Akrosil facility in Pleasant Prairie. Image from Google.
Mondi Akrosil facility in Pleasant Prairie. Image from Google.
An affiliate of W.P. Carey, a New York-based real estate investment trust (REIT), has purchased a 215,000-square-foot industrial building in Pleasant Prairie for $20 million, according to state records. The building, located on a 50-acre…

Want to Read More?

Paid BizTimes subscribers get unlimited access to all Insider content and much more. Learn more in our Insider FAQ.

Become an Insider Now

Already an Insider? Log In

Or click here to purchase a paywall bypass link for this article.

An affiliate of W.P. Carey, a New York-based real estate investment trust (REIT), has purchased a 215,000-square-foot industrial building in Pleasant Prairie for $20 million, according to state records. The building, located on a 50-acre site at 7201 108th St. in the LakeView Corporate Park, was sold by an affiliate of Balcan Plastics, a Quebec-based manufacturer of flexible packaging and technical films. Representatives for W.P. Carey and Balcan were not immediately available for comment on the deal. Balcan Plastics bought the building last year for $13 million and announced plans to establish operations there with 60 employees. The company said it planned to use the facility to manufacture polyethylene blown film and associated products such as bags, pouches and sheeting, according to the village. Previously, the building was owned and occupied by Mondi Akrosil, a division of London and Vienna-based international packaging and paper company, Mondi plc. In 2020, Mondi Akrosil announced that it was shutting down its operations there, which resulted in the termination of 108 employees. The company then sold the building last year to Balcan Plastics. The property has an assessed value of about $8.6 million, according to Kenosha County records.
Get Our Email Updates
Stay up-to-date with the Milwaukee-specific issues, people and companies that matter most to business.
Andrew Weiland is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, Weiland is a lifelong resident of the state. He lives in Muskego with his wife, Seng, and son, Zachary. He is an avid sports fan and enjoys coaching his son’s youth baseball and basketball teams.

Stay up-to-date with our free email newsletter

Keep up with the issues, companies and people that matter most to business in the Milwaukee metro area.

By subscribing you agree to our privacy policy.

No, thank you.