Staples Distribution Facility in Oak Creek, WI Sells for $17 Million

Staples Distribution Facility, Oak Creek, WI

OAK CREEK, WI – Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, announced the sale of the 279,828-square-foot Staples distribution facility in Oak Creek, Wis.

The $17 million sales price equates to $61 per square foot.

            The facility is part of two-property single-tenant industrial portfolio. The other asset, a 63,740-square-foot FedEx freight terminal in Aurora, Ill. Sold for $15,950,000 in May 2014.

Matthew Fitzgerald

           Nick Manganais, vice president investments in Marcus & Millichap’s Chicago O’Hare office, and Matthew Fitzgerald, first vice president and the firm’s broker of record in Wisconsin, arranged the transaction for the seller, an Illinois-based family trust.

            “The building was built to suit for Corporate Express Office Products by Opus Group in 2006 and 2007,” says Manganais. 

“In 2008, Staples acquired Corporate Express Office Products and assumed the lease responsibilities. The facility is located near General Mitchell International Airport in a strong southeastern Milwaukee metro area.”

Situated on a 28-acre parcel at 120 West Opus Drive in Oak Creek, Wis., the building features 20,000 square feet of office space and 259,828 square feet of warehouse space with a clear span of 33.5 feet. The building can be expanded by an additional 51,748 square feet.

For a complete copy of the company’s news release, please contact:

Gina Relva

Public Relations Manager

(925) 953-1716