A speculative industrial building in Franklin sold this month for $19.55 million to SixSibs Capital Corp., which has an affiliated ownership with Milwaukee manufacturer Rite-Hite.
A Rite-Hite spokesperson confirmed the acquisition and said the company will not have any operations at the building. While affiliated with Rite-Hite, SixSibs Capital generally operates like any other real estate investor in that its projects are not directly linked to operations or buildings of the manufacturing company.
Located at 3617 W. Oakwood Road with 236,180 square feet, the Franklin building is on the market for lease to other companies. A team of brokers at CBRE in Milwaukee is listing the property for lease, according to a listing for the property.
In 2023, a SixSibs affiliate purchased a Mount Pleasant industrial facility for $17.55 million, according to state property records, as an investment property as well.
The Franklin building was developed and sold by an affiliate of Wauwatosa-based Wangard Partners, according to state property records.
Wangard is the developer behind the Franklin Corporate Park, which includes a second industrial building next door with around 300,000 square feet, according to Wangard's website.
A representative from Wangard was not immediately available for comment.
