Zilber Property Group has purchased a 145-acre site in Germantown for the development of Germantown Gateway Corporate Park, which will be anchored by a 706,000-square-foot distribution facility for Briggs & Stratton Corp.
Brian Kazmierczak, a Germantown farmer, sold the property located on Rockfield Road, near Holy Hill Road and Interstate 41, to ZPG Development LLC for $7.4 million, according to state records.
Zilber Property Group plans to begin construction on the Briggs building immediately. It will be complete by April 2019.
Briggs, a small engine manufacturer, will lease the building from Zilber to accommodate distribution operations for Briggs engines and other products.
In 2016, Briggs & Stratton, a small engine manufacturer, leased 170,000 square feet of the former Aldrich Chemical Co. Inc. building at 4143 N. 27th St. in Milwaukee from Phoenix Investors for warehousing space, according to real estate sources.
Briggs representatives could not immediately be reached for comment.
William Bonifas, Matthew Cariello and Karl Wiedemann of CBRE represented Briggs & Stratton in brokering the deal. Michael Kleber, director of leasing with Zilber Property Group represented Zilber Property Group in the transaction with Briggs and in the acquisition of the land for the corporate park.
The $28 million Briggs building is part of the first phase of development of the corporate park. A 150,000-square-foot building is also planned as part of the first phase. A user for that facility is not identified.
A second phase would include four additional 150,000-square-foot buildings to be built through 2027 and a 250,000-square-foot building to be constructed in 2022.
The value of the full development for the corporate park is estimated at $88.25 million.
The village has created a $8.4 million TIF district to assist with the creation of the corporate park.
“Zilber and Briggs have been great partners on this project and we are excited to welcome them to the community and for the additional development this will bring,” said Germantown Village Administrator Steve Kreklow. “The focus has been on Briggs because they are the first tenant moving in, but we are talking about eight more buildings with a total value of $40 million.”
