STAG Industrial buys 3 Walworth Co. industrial buildings for $13.9 million

Buildings assessed at $8.3 million total

1714 Hobbs Drive, Delavan
1714 Hobbs Drive, Delavan. (Credit: Google)

An affiliate of STAG Industrial Inc. has purchased three Walworth County industrial buildings for $13.9 million, according to state records.

The Boston-based investment firm purchased two buildings in the city of Delavan, at 329 Hallberg St. and 1714 Hobbs Drive, and one in the city of Elkhorn, at 390 E. Koopman Lane. They were purchased from Janesville-based Nodon Properties LLC.

Altogether, the three buildings have an assessed value of $8.3 million, according to county records. The Hallberg Street building is used by German automotive manufacturing company Continental AG, the Hobbs Drive building is used by Charlotte, North Carolina-based industrial equipment manufacturer SPX FLOW, and the building on Koopman Lane is the headquarters of Certified PowerTrain, a manufacturer and distributor of mechanical drive systems and components.

Representatives of STAG Industrial did not immediately respond to a request for comment.

According to the company’s website, as of June 30, STAG Industrial owns 409 buildings in 38 states that total 81.2 million square feet. It acquired 53 buildings totaling 10.3 million square feet in 2018.

STAG Industrial primarily seeks single- and two-tenant, 100% occupied industrial buildings, though it still considers vacant or partially vacant buildings, according to an overview of its acquisition platform. It acquires single assets in the range of $5 million to $100 million, and has no maximum amount for portfolios.

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Alex Zank, former BizTimes Milwaukee reporter.

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