Boston-based STAG Industrial Inc. purchased the 204,500-square-foot building at 5600 S. Moorland Road in New Berlin, which is occupied by a Quad/Graphics Inc. commingling center, for $9.28 million, according to state records. The deal was recorded Monday.
A spokesperson for Quad could not be reached for comment.
The building was constructed in 2009 and has an assessed value of $7.5 million, according to Waukesha County records.
STAG Industrial is a real estate company focused on the acquisition, ownership and management of single tenant industrial properties. For acquisitions, the firm targets individual Class B, single tenant industrial properties predominantly in secondary markets throughout the United States with purchase prices above $5 million.
The building was sold by Ace Distribution Services Inc., which had been a distributor of Harley-Davidson apparel, until Harley shifted that business to Indiana about a year ago. As a result of the loss of the Harley business, Ace Distribution eliminated nearly all of its employees and leased the building to Quad/Graphics.
The facility is part of a multimillion-dollar investment that Quad is making in its direct marketing platform. The commingling process merges individual mail pieces together to improve presort discounts and drop-ship savings. Quad says the process reduces postal handling and delivery time.
