Real estate deal of the week

Last updated on May 13th, 2019 at 02:41 pm

Milwaukee-based Towne Investments, a division of Zilber Ltd., announced Tuesday that it has purchased 38 acres, consisting of seven industrial land sites, in LakeView Corporate Park in Pleasant Prairie from CenterPoint Wispark Land Company LLC. The sale price was not disclosed. LakeView Corporate Park is a 2,400-acre mixed-use development at I-94 and Highway 165 that has attracted several businesses from northern Illinois. Towne said its purchase of property in LakeView "marks the continuation of Towne’s development growth plans within the growing I-94 corridor between southeast Wisconsin and northern Illinois." The seven sites range from 3 to 9 acres in size and allow for the development of buildings between 40,000 and 95,000 square feet. Towne Investments plans to develop the land with build-to-suit projects, speculative developments, or a combination of the two said David Koziol, director of marketing for Zilber Ltd. "We’re looking into those options," he said. "There’s nothing concrete right now."

"Towne Investments’ development plans in LakeView will include an aggressive speculative and build-to-suit development program that targets the needs of mid-sized end-users in the marketplace," said John Kersey, director of Towne Investments. "In serving this market segment, our goal is to continue to build on the foundations that Wispark, CenterPoint Properties and the Village of Pleasant Prairie have laid with the development of LakeView Corporate Park."

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