Towne Investments, the trade name under which Milwaukee-based Zilber Ltd. markets its commercial investment portfolio, announced that it has purchased 20.24 acres of industrial land in the Business Park of Kenosha. The business park is located at I-94 and Highway 158. The land purchased by Towne can accommodate 230,000 square feet of multiple industrial buildings, either speculative or build-to-suit, ranging from 50,000 to 150,000 square feet each.
"This addition to our development portfolio provides further space opportunities in the northern Chicago, southeastern Wisconsin submarket for businesses requiring mid-sized industrial facilities," said John Kersey, director of Towne Investments.
Zilber Ltd. is one of several commercial real estate companies that have been acquiring real estate in the I-94 corridor between Chicago and Milwaukee in an attempt to capitalize on the sprawl from both metro areas that is resulting in growth in between them. Last month, Towne Investments announced that it has purchased three industrial land sites and a 37,037-square-foot industrial building in the Chicago/Milwaukee I-94 corridor. Two of the parcels of land, a 1.43-acre site and a 2.23-acre site, are located in the Business Park of Kenosha. The building and a 3.19-acre site are located in the OakGroveBusinessPark in Waukegan, Ill. The three land sites could support a combined 130,000 square feet of industrial space and are available for sale, lease build-to-suit or for speculative development.
