Mount Pleasant-based Educators Credit Union
has acquired roughly 2.5 acres of land located in the Highlands Business Park
in Sussex, according to state records.
The land is located along Business Drive. ECU bought it for nearly $1.08 million from an affiliate of the developer of the business park, Wauwatosa-based Wangard Partners Inc.
A representative of ECU did not immediately respond to a request for comment.
Highlands Business Park is a 149-acre development located northwest of Highway 164 and County Highway K. It can accommodate industrial, food service, health care service, general service and retail uses. Development sites for individual users range from 1-30 acres.
Although the business park has no announced office or industrial users, it has seen some retail activity. La Crosse-based Kwik Trip Inc.
is building a 9,000-square-foot, $2 million gas station and convenience store
along Highway K.
"We just recently completed the roadways for Highland Business Park, and we are getting a very nice reception from the marketplace," said Stu Wangard, chairman and chief executive officer of Wangard Partners. "We’re working on a number of different retail, office and industrial transactions right now."
Wangard said the early interest from retailers come from the fact the frontage road was put in first, and that they wanted the "prime property" spots in the development.
Talks are ongoing for a potential multi-tenant industrial building, an office user and two additional retail concepts, he said. The discussions are serious but are in the early stages, he added.
"They (prospective users) have been attracted to the area because of the robust development that's been going on in Lake Country," Wangard said, referencing the residential development boom happening in the surrounding communities. "There's a lot of different firms looking to come into the area to serve the new growth."
Wangard added there remains a scarcity of high-quality industrial sites in the region.
This also isn't the first deal between ECU and Wangard Partners. The credit union this spring bought 3.3 acres from the developer in Oconomowoc, where it plans to build a new branch