The Pleasant Prairie building that L&M Corrugated Container Corp. moved into in 2013 has been sold to an affiliate of Chicago-based First Industrial Realty Trust, according to state records.
First Industrial, which owns or is developing 65.5 million square feet of industrial space nationally, purchased the nearly 100,000-square-foot building and 22 acres at 10680 88th Ave. for $7 million from an affiliate of Platteville-based Platteville Development Group.
The property, located at 10680 88th Ave., has an assessed value of $4.1 million, according to Kenosha County records.
Calls to both the buyer and seller were not immediately returned.
Platteville-based L&M moved its Zion, Illinois operations to Pleasant Prairie in 2013, bringing with it 43 employees. The company converts about 20 million square feet of corrugated material into packaging and shipping products each month. Its daily routes serve customers in Chicago, Milwaukee, Dubuque and Madison with stops across northern Illinois and southern Wisconsin.