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Chicago & Midwest  + Midwest  + Industrial  |  August 26, 2020
Paul Bubny
By: Paul Bubny

Hufcor’s Janesville Warehouse Sells at 9.8% Cap

Coldwell Banker Commercial represented ownership in the sale of the 305,000-square-foot Hufcor industrial manufacturing building in Janesville, WI. Bill Mears of Coldwell Banker Commercial McGuire Mears & Associates represented both the Borden Family Trust as seller and Badger Property Investors as buyer.

Badger acquired the property, located within the Kennedy Road Industrial Park, as part of a 1031 exchange. The 1960s-vintage property sold for $7.9 million at a 9.8% cap rate.

Hufcor, founded in 1900, designs and manufactures operable partitions worldwide. The Borden Family Trust sold the Hufcor business to a private equity firm in 2017 but retained the real estate.

“The sale of the Hufcor facility is a tremendous win for this southeast Wisconsin community,” said Mears. “We were able to not only achieve the business objective of the Borden Family Trust but with a local high quality investor acquiring the property, it reinforces the value of this market.”

For comments, questions or concerns, please contact Paul Bubny

Read More News Stories About: Coldwell Banker Commercial
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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