Two Midwest Industrial Properties Sell for $33 Million

  

1 and 2 World Packaging Circle, Franklin, WI

FRANKLIN, 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  1 and 2 World Packaging Circle, two warehouse/industrial buildings totaling 418,000 square feet in Franklin, Wis.

Franklin Business Park

The total sales price for the two buildings is $33,000,027, which equates to $79 per square foot.

            Thomas Kopatich, senior associate in Marcus & Millichap’s Milwaukee office, represented the seller, a local business person and the buyer, a private equity fund.

            “The two buildings are 100 percent occupied and triple-net leased by two companies, Proteus Packaging Corp. and Transpak,” says Kopatich. 

“Their eight-year leases are guaranteed by Quad/Graphics (NYSE: QUAD), which owns both firms.”

The properties are located within the 425-acre Franklin Business Park with frontage on South Oakwood Park Drive and Ryan Road. Access to Interstate 94, Interstate 894, U.S. Highway 41, U.S. Highway 45 and State Trunk Highway 36 is nearby. The location is 20 minutes south of downtown Milwaukee and 80 minutes north of Chicago.

            The facilities were constructed of precast tilt-up concrete on 37.6 acres in 2006. Features include 30-foot to 40-foot clear height, natural light throughout the warehouse, enclosed docks, two 75-ton cranes, two 10-ton cranes, heated underground parking and an entrance fountain that is controlled by wind speed.

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

Gina Relva, Public Relations Manager

(925) 953-1716