A handful of industrial buildings in Kenosha and Racine counties have been sold to affiliates of international real estate investor
EQT Exeter in a $38.7 million deal.
Based in Pennsylvania, EQT Exeter, the real estate division of EQT Group AB, acquires, develops, leases and manages industrial, office and multifamily properties. The firm has offices in 20 countries and has more than $30 billion in investments, according to EQT Exeter's website.
The firm recently purchased five industrial buildings with a total of 339,000 square feet of space in Pleasant Prairie and Sturtevant. All of the buildings are fully leased, according to EQT Exeter's website.
The properties include:
- A 51,000-square-foot building at 8330 107th St. in Pleasant Prairie that sold for $5.4 million.
- A 149,000-square-foot building at 8200 100th St. in Pleasant Prairie that sold for $12.4 million.
- A 63,000-square-foot building at 9505 72nd Ave. in Pleasant Prairie that sold for $6.2 million. This building was built in 2012.
- A 52,000-square-foot building at 10785 72nd Ave. in Pleasant Prairie that sold for $5.7 million. This building was built in 2007.
- A 25,000-square-foot building at 1101 S. Sylvania Ave. in Sturtevant that sold for $9 million.
This brings EQT Exeter's total of Wisconsin properties to 22 properties, with 18 in Kenosha County, one in Racine County, one in Milwaukee County and one in Washington County.
EQT Exeter did not respond to request for comment.
All five of the buildings were sold by a New York City-based entity called Platinum Owners WI LLC.
The four properties in Pleasant Prairie are part of the LakeView Corporate Park, where EQT Exeter
purchased 351 acres for $345 million last year.
The southeastern Wisconsin region’s industrial space vacancy rate was 3.6%
during the second quarter. The market had 385,000 square feet of positive absorption in the second quarter for a total of 1.1 million square feet year to date, according to new data from the
Commercial Association of Realtors Wisconsin (CARW).
