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WI Manufacturer Expands with Nearly 400K SF of Transactions
Newmark recently arranged 388,940 square feet of real estate transactions with Teel Plastics, LLC in Baraboo, WI, north of Madison. They included–the company’s new, 180,000-square-foot lease at 1300 Sauk Ave. and the 208,940-square-foot, two-property sale-leaseback of 1060 Teel Ct. (139,090 square feet) and 426 Hitchcock St. (69,850 square feet).
Newmark vice chairman Andrew Sandquist, managing director JC Asensio and associate director Briggs Goldberg–in cooperation with directors Travis Tiede and Adam Matson–represented Teel Plastics in both transactions. LCN Capital acquired the two-property industrial portfolio in the SLB.
“A longtime Baraboo presence, Teel Plastics’ recent moves mark a significant expansion–the space will enable the company to accommodate the growth it has experienced in 2020 and its continued growth driven by new product lines,” said Sandquist.
Teel Plastics creates roughly 120 million COVID-19 testing swab sticks monthly and was recently awarded a $6.8-million Department of Defense contract.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Lease
