Pleasant Prairie industrial building sold to investor for $35 million

A Chicago-based investment firm has acquired the Majestic Badger Logistics Center in Pleasant Prairie for $35 million, according to state records.

The industrial facility is located at 8801 88th Ave. It totals 424,164 square feet and was built in 2016, according to online listings.

Its new owner is 88th Avenue Investors LLC, an affiliate of PSP Partners LLC. The seller is Majestic Badger LLC, an affiliate of City of Industry, California-based developer Majestic Realty Co.

The facility is located just north where The Kroger Co. is building a new 350,000-square-foot fulfillment center.

Listings indicate 212,141 square feet of the building is vacant. Pennsylvania-based Communications Test Design Inc. is leasing part of the space.

PSP Partners did not respond to a request for comment. It was founded by company chairman Penny Pritzker, who served as U.S. Secretary of Commerce in the Obama Administration from 2013-17.

It has made, managed and sold more than $6 billion of investments in commercial real estate since 1991. It invests in three sectors including multi-family, industrial, and infrastructure and data centers.

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