Real estate deal of the week

The owner of Milwaukee-based Pak Technologies Inc., recently purchased two buildings with a total of 180,000 square feet of space at 3522, 3600-20 N. 35th St., Milwaukee, for $1.75 million.

Pak Technologies to add former Tower Auto buildings
Kevin Schuele
, the owner of Milwaukee-based Pak Technologies Inc., recently purchased two buildings with a total of 180,000 square feet of space at 3522, 3600-20 N. 35th St., Milwaukee, from Murphy Real Estate LLC for $1.75 million. The buildings, a 120,000-square-foot building and a 60,000-square-foot building, are part of the former Tower Automotive complex in Milwaukee’s central city. Sam Dickman Sr. and Sam Dickman Jr. of the Dickman Company Inc. represented the buyer and the seller in brokering the deal.

Pak Technologies is a contract manufacturer. Schuele said the former Tower Auto buildings are useful to his company because of their access to rail lines. Schuele said acquiring buildings with rail access is a strategic move to counter the skyrocketing price of fuel, which is dramatically increasing shipping costs for materials and for Pak’s finished products. "The dynamics of $4.50 a gallon diesel is going to change the country," he said. "I’m very concerned because the country has taken out a lot of rail lines. These are valuable assets for infrastructure. We’ve got to think about how we’re going to use it." Pak Technologies will move into the former Tower buildings late this year or early next year. About 25 people will be working there, Schuele said. The company is headquartered at North 27th Street and Silver Spring Drive and has facilities at 80th Street and Good Hope Road and on North 37th Street.

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display