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Hillwood Buys Racine County Parcel for Spec Industrial
Hillwood has acquired two fully-occupied logistics facilities totaling 338,000 square feet and 58 acres of vacant land within Grandview Business Park in Racine County’s Yorkville, WI.
The buyer didn’t disclose deal terms. BizTimes Milwaukee reported that Hillwood paid $33 million for the development site and the two adjacent buildings at 1800 and 2000 S. Sylvania Ave.
“Initial development plans for this site include two speculative industrial buildings, that will total just under 200,000 square feet each and can accommodate a variety of users from 25,000 square feet,” said Don Schoenheider, Hillwood’s SVP and market leader for the Midwest. “We expect to break ground this summer for early 2020 delivery.”
Schoenheider, whose company is also developing a distribution facility for Amazon in nearby Oak Creek, told BizTimes Milwaukee that the Yorkville project will seek a mix of tenants to fill the space.
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