Sussex-based Quad/Graphics Inc. has moved out of a 388,800-square-foot facility in Menomonee Falls due to consolidation of distribution operations.
The company moved out of the facility, located at N58 W15350 Shawn Circle, when its lease ended on March 31, according to an email from Quad spokesperson Claire Ho.
All workers employed at the facility were moved to other locations along with operations, she said. They were informed about the move in the fall.
"We determined it would be more cost effective to have employees and operations relocated within existing print-production facilities," Ho wrote in the email. "The facility we were leasing was under-utilized much of the year."
The facility was built in 2009. It is owned by an affiliate of Illinois-based First Industrial Realty Trust Inc., according to county records.
It is being marketed to a new tenant. It was listed online last year.
Steve Sewart with Colliers International | Wisconsin, which is marketing the property to prospective tenants, said there has been good interest in the facility, but no new lease has been signed yet.
Metro Milwaukee's industrial real estate market remains hot. According to a recent market report from the Commercial Association of Realtors Wisconsin, REDIComps and Catylist, the area's industrial real estate market had roughly 451,400 square feet of positive absorption in the first quarter. Overall vacancy stood at 4.3% for the quarter.
Waukesha County saw 276,000 square feet of negative industrial space absorption in the quarter, but this was due to Quad vacating the Shawn Circle space.