An affiliate of
Ashley Capital, a New York-based industrial real estate company, has purchased the 223-acre former South Hills Country Club site in Racine County, where it plans to develop an industrial park.
The company bought the site, located southeast of I-94 and Golf Road in Caledonia and Mount Pleasant, for $24.5 million, according to state records.
The site was sold by
Hintz Real Estate Development Company.
Earlier this year, Ashley Capital received approval from the village of Caledonia of its plans for a $440 million industrial park at the former South Hills Country Club site. The development, to be called theÂ
South Hills Commerce Center, would include 10Â industrial buildings, totaling 3.8 million square feet of space and ranging in size from 218,400 square feet to 554,000 square feet, according to plans reviewed by the Plan Commission.
Ashley Capital owns more than 100 properties totaling more than 30 million square feet, throughout the country. Its portfolio includes two sites in Racine County: the Yorkville Business Center, consisting of three buildings and 714,000 square feet; and the 136-acre Enterprise Business Park, located in Mount Pleasant and Sturtevant.
