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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.

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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 13-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 15-20 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 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).

  • ◦Sale/Acquisition
  • ◦Lease