Wauwatosa-based real estate developer Wangard Partners is seeking approval from the City of Franklin to construct a new industrial building at 3617 W. Oakwood Road. In November 2016, the city voted to establish a 520-acre business park, called the Oakwood Industrial project, at the site. The site of Wangard Partners’ proposed
Wauwatosa-based real estate developer Wangard Partners is seeking approval from the City of Franklin to construct a new industrial building at 3617 W. Oakwood Road.
In November 2016, the city voted to establish a 520-acre business park, called the Oakwood Industrial project, at the site.
[caption id="attachment_567174" align="alignright" width="285"] The site of Wangard Partners' proposed building. Courtesy of Franklin Plan Commission documents[/caption]
WP Property Acquisitions LLC – a firm linked to Wangard Partners – has been working to develop the project site and has already completed construction of a 235,000-square-foot building on the northern half of the site. The firm is also proposing construction of a 300,000-square-foot building on the southern half of the site.
“WP Property Acquisitions, LLC has already been approached by a number of highly interested tenants that wish to utilize this space as soon as possible,” according to an application submitted to Franklin’s Plan Commission.
Wangard began construction on its 235,000-square-foot building at the end of 2021. The developer previously expressed interest in constructing two more buildings within Franklin’s business park. In addition to the 300,000-square-foot building currently being proposed, Wangard has plans for a third building totaling 80,000 square feet.
Wangard said distributors and certain manufacturers are looking for sites that provide quick freeway access. Franklin’s new business park benefits from a recently built Elm Road freeway interchange. The state installed the interchange as part of the larger I-94 north-south rebuild.
“These types of industrial facilities rely heavily on the closeness of suppliers and a direct connection to the interstate highway system,” according to the application.
Wangard Partners has been active in the industrial real estate market. It is developing Highlands Business Parkin Sussex, and recently bought a 100,000-square-foot industrial building in New Berlin.
