An affiliate of Waukegan, Illinois-based
Yaskawa America Inc., a manufacturer of AC inverter drives and motion control and robotics automation systems, has purchased the former
Transpak Corp. building in Franklin for $20.3 million, according to state records.
The 207,814-square-foot building is located on a 17.5-acre site at 2 W. World Packaging Circle in the Franklin Business Park. The property has an assessed value of $11.1 million, according to county records.
The sale also included a vacant 5-acre site to the west of the building.
The building and land was sold to Yaskawa by an affiliate of Clayton, Missouri-based
US Capital Development, according to state records.
Transpak, a packaging, warehousing, distribution and logistics company, moved its operations out of the building about two years ago and is now located in a larger space at 445 W. Oklahoma Ave. in Milwaukee.
Yaskawa America has several facilities in the United States, including a manufacturing facility in Oak Creek at 150 W. Oakwood Road.
“The Franklin facility is needed space for increased production capacity for our value-added business,” Yaskawa America chairman and chief executive officer
Mike Knapek said in an email to BizTimes Milwaukee. A brochure on the company's website indicates that its Oak Creek plant is its value-add manufacturing facility.
Yaskawa America is a subsidiary of Japan-based Yaskawa Electric Corp.
