Mike Mitchell, the owner of Prototype Stampings, a metal stamping company currently located in Muskego, recently purchased a 14,000-square-foot industrial building at 16055 Ryerson Dr. in New Berlin for $525,000.
The deal was brokered by Cushman & Wakefield and by Stephen Provancher of NAI MLG Commercial.
The company currently leases 6,000 square feet of space in Muskego.
“Mike needed more space to support the growth of the company, which he had recently purchased,” Provancher said. “He plans to spand some additional money to update the offices and the warehouse.”
Waukesha County had an industrial space vacancy rate of 3.54 percent in the first quatrer (down from 5.57 percent a year ago), according to Xceligent.
“The market continues to be very active as there are more buyers in the market than sellers as the inventory of vacant industrial buildings continues to shrink,” Provancher said.