Majestic Realty Plants its Flag in Greater Chicago Industrial Market with purchase of 88-acre site in Pleasant Prairie, Wisc.
January 4, 2013 | ,
Badger Logistics Center
Chicago – Majestic Realty Co., the nation’s largest, privately-held real estate development company, has completed the purchase of 88-acres of land from Wispark LLC in Pleasant Prairie, Wisc. with plans to build a warehouse distribution center totaling nearly 1.2 million square feet. Groundbreaking is anticipated for Spring 2013.
With recent entitlement and zoning approvals by the Pleasant Prairie Village board and planning commission, Majestic’s Badger Logistics Center is adjacent to LakeView Corporate Park on currently vacant land east of Highway H and south of Highway 50 in southeast Wisconsin. With 17 million people located within a 100-mile radius, the site provides easy access for companies throughout the greater Chicago service area. In addition, it is just 40 minutes from Chicago’s O’Hare Airport and 25 minutes from Milwaukee’s Mitchell International Airport.
With the potential to be designated an enterprise zone, the property features tax credits, industrial revenue bonds and low interest loans, along with a highly-qualified labor pool, lower labor-related costs and tax rates.
“This is a tremendous opportunity for us in the Greater Chicago Market. We have been trying for years to find the right project to develop in this market and the Pleasant Prairie site gives us an opportunity to do that is a big way.” said Ed Roski, Chairman of Majestic Realty. “The greater Chicago area is a prime market for us going forward and this development will offer our tenants remarkable access to a key business region in an extremely business-friendly environment.”
Geared toward the higher volume users seeking space in the region, Majestic’s Badger Logistics Center offers two direct access points to Highway 94. The building will feature 36-foot ceiling clearance, 50-foot by 52-foot bay spacing, ESFR sprinkler system, up to 240-foot truck court and parking for 416 trailers. In addition, the property has redundant water capacity up to 7 million gallons per day and offers potential rail service from Canadian Pacific Railway.
With more than 70-million-square-feet of industrial, office, entertainment and hospitality space in its portfolio, Badger Logistics Center represents Majestic’s first land purchase in seven years and provides a stepping stone for the company’s future growth plans in the Midwest market.
“The acquisition and planned development of this site shows not only our confidence in the greater Chicago industrial market but the Midwest as a whole,” said John Semcken, Senior Vice President of Majestic Realty. “We’ve completed extensive research on this market and we continue to search for additional development opportunities in the region.”
Founded in 1948, Majestic Realty Co. is the largest, privately-held developer and owner of master-planned business parks in the United States. Majestic’s 70-million square-foot portfolio provides real estate solutions for tenants large and small, creating jobs, tax revenue and community benefits across the country. Headquartered in Southern California, Majestic has regional offices in Atlanta, Dallas, Denver, Las Vegas and Bethlehem, Pennsylvania.