Staples warehouse in Oak Creek sold for $17 million

An affiliate of Plymouth Meeting, Pa.-based Exeter Property Group, a real estate investment management firm, recently purchased the 279,828-square-foot Staples Inc. distribution center in Oak Creek for $17 million, according to state records.

The building is located on a 28-acre site at 120 W. Opus Dr. The property has an assessed value of $12.7 million, according to Milwaukee County records.

The building was constructed by Opus Group in 2007. Staples, a Farmingham, Mass.-based office supplies retailer, has a 10-year lease for the building that expires in 2017, according to Loopnet.com. There are two five-year options to extend the lease.

The property was sold by St. Charles, Ill.-based Evergreen Glen Apartments Limited Patnership, according to state records.

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