NorthPoint Development is approaching completion of one large industrial building in Kenosha County east of Interstate 94, and recently acquired 67 acres in Bristol where it is approved to build another with 1 million square feet.
That land west of the interstate on Highway Q sold for $12.5 million, according to state records. It is prepped to become another large speculative industrial development in Kenosha County and adds to activity in the 170-acre Bristol Business Park.
NorthPoint Development, based in Kansas City, Missouri, gained approvals from the village of Bristol in June to build 1.05 million square feet there. It responds to a demand companies are showing for larger warehousing spaces, and a limited number of shovel-ready properties where such expansive buildings can be constructed.
The more than 1 million-square-foot building would be about 50 feet tall. Once leased, there’s the potential for hundreds of people to work in the facility, depending on the end user.
NorthPoint also went big for its first speculative building in Kenosha County. Located near Amazon.com’s Kenosha fulfillment center, that building has 757,418 square feet. It broke ground in June and is expected for completion in early 2022, according to an emailed response to questions from NorthPoint director of marketing Ruth Olson.
“Regarding leasing, we are seeing frequent proposal inquiries among different companies in the market,” the email said. “With the momentum of leasing taking off we feel strongly that this project will lease quickly.”
Read more at the Milwaukee Business Journal.