Indianapolis-based developer Scannell Properties has purchased a recently completed 200,000-square-foot industrial building in the Lakeview Corporate Park from Milwaukee-based Wangard Partners Inc. and Brookfield-based Hunzinger Construction Co.
The one-story precast and steel facility is located at 105550 86th Ave., in Pleasant Prairie’s Lakeview Corporate Park. The sale closed last week, according to a news release.
The project was a joint venture of Lakeview Industrial Development LLC, a partnership comprised of Wangard and Hunzinger. Both firms have worked together on other projects, but this marked the first time they developed one together. Construction of the building commenced in June 2018 and was completed by the end of the year, with final site work wrapping up this spring.
Scannell made its entry to the Milwaukee market earlier this year when it submitted plans for a 150,000-square-foot spec industrial building on Milwaukee’s far northwest side, at 12255 W. Carmen Ave., just east of Cargill’s cocoa and chocolate facility. The firm broke ground on that project in the spring.
In purchasing the facility in Pleasant Prairie, Scannell made a strategic acquisition to expand its presence in the southeastern Wisconsin region.
“This acquisition signals our entrance into the Kenosha County market,” Bill Linville, partner at Scannell, said in the release. “We have acquired a premier building at the premier location within Lakeview Corporate Park.”
Wangard and Hunzinger were represented by John Sharpe of Lee & Associates and Scannell was represented by Tom Boyle of Lee & Associates. Scannell has retained Lee and Associates to market the facility for lease. Wangard will be providing facility management services.
