Milwaukee-based
Zilber Property Group announced that it has acquired a 363,000-square-foot industrial building in Beloit occupied by
Pratt Industries’ Beloit Corrugating operations.
Terms of the deal were not disclosed.
The building is located at 1405 Gateway Boulevard in the
Gateway Business Park, at the intersection of I-90 and I-43, near the Wisconsin-Illinois state line.
Pratt Industries manufactures recycled containerboard, corrugated sheets, and related packaging containers and has facilities located throughout the U.S. Pratt is the fifth largest corrugated packaging company in the U.S. and the world’s largest, privately held producer of 100% recycled container board.
Its Beloit facility, which was built in 2016, supplies Pratt’s customers throughout the Great Lakes and Upper Midwest regions.
Zilber Property Group has built a portfolio of industrial properties in the I-39/I-90 corridor. It currently owns and manages 15 properties totaling approximately 3.8 million square feet of industrial space in Rock County.
“Rock County remains a prime location for industrial real estate investment, and acquiring this modern, highly automated manufacturing facility reinforces our commitment to the area and complements our existing assets” said
Jim Borris, the CEO of Zilber Ltd. “We are excited to welcome Pratt and their exceptional operation to our portfolio.”
The
Colliers Minnesota and Wisconsin investment services teams collaborated in representing the seller in the transaction.
Peter Loehrer,
Mark Kolsrud,
Tom Shepherd, and
Jennifer Huber-Bullock all of Colliers arranged the transaction.
“The industrial real estate market in southern Wisconsin continues on its upward trend line with strong interest from investors and tenants,” said Shepherd, a partner with Colliers Wisconsin’s Investment Services Team. “Our Colliers team is bullish on this Beloit/Janesville Interstate 39/90 corridor submarket in both the near and long term.”
