A $47 million warehouse sale in Bristol emerged as southeastern Wisconsin’s likely largest industrial building sale for the start of 2023, when the overall vacancy rate crept up as six speculative projects were completed.
That’s according to the first quarter report released by CBRE. The large industrial sale was an almost 400,000-square-foot facility in Janko Group’s Bristol Business Park west of Interstate 94 in Kenosha County.
An affiliate of Illinois-based Janko sold that building to Global real estate firm EQT Exeter for about $118 per-square-foot, according to state records. Exeter made a splash in the local industrial market in summer 2022 with its almost $291 million purchase of 307 acres of properties with eight buildings in the LakeView Corporate Park in Pleasant Prairie.
The Bristol sale closed at the end of March. A spokeswoman for the company in early April declined comment.
Read more at the Milwaukee Business Journal.