Industrial v Wisconsin

HSA Commercial closes long-term lease with food-packaging company at Wisconsin business park

HSA closes long-term lease deal with food-packaging firm,ph01

HSA Commercial Real Estate announced that the firm has signed a long-term lease renewal with Naples, Italy-based Seda International Packaging Group at Park 94 in Mount Pleasant, Wisconsin.

In 2010, Seda, the world’s largest manufacturer of food-packaging products, purchased a 323,610-square-foot building at 12501 Globe Drive in Park 94 from HSA Commercial to serve as its North American manufacturing and distribution center following a competitive review of sites in the United States and Canada.

In order to serve its expanding operations in southeast Wisconsin, Seda in 2015 subsequently leased 61,162 square feet of additional space in the multi-tenant industrial building owned by HSA Commercial at 1400 International Drive, for which Seda recently executed a lease extension.

Located at the intersection of State Highway 20 and International Drive, just 15 miles north of the Illinois-Wisconsin border, Park 94 at Mount Pleasant is a 184-acre multi-phase, multi-use business park development. InSinkErator is currently building its $24 million, 86,200-square-foot headquarters and laboratory facility at Park 94, and Foxconn recently announced it would develop its North American manufacturing facility in Mount Pleasant on land just south of Park 94.

According to recent news reports, the Foxconn plant will employ 13,000 local workers and include multiple buildings totaling 20 million square feet at an estimated cost of $10 billion. Given the unprecedented growth occurring nearby, Park 94 is well-positioned to offer additional warehouse and distribution facilities as part of subsequent phases.

Roger Siegel from The Dickman Company represented ownership in the lease transaction.