Avison Young announced the sale of 10490 88th Avenue in Pleasant Prairie, Wisconsin, a 200,696-square-foot, state-of-the-art food production facility located within LakeView Corporate Park.
The property was acquired by Royal Oak Realty Trust, a New York-based real estate investment trust. The transaction was facilitated by Avison Young’s U.S. Industrial Capital Markets team, led by Erik Foster, Principal and Leader, U.S. Industrial Capital Markets, and Mike Wilson, Principal. Foster and Wilson are based in the firm’s Chicago office and represented the seller, EQT Real Estate.
“This transaction highlights the continued investor demand for high-quality, food-grade industrial assets with long-term tenancy,” said Erik Foster, Principal and Leader, U.S. Industrial Capital Markets at Avison Young. “The Pleasant Prairie facility is an exceptional asset that combines modern construction, specialized infrastructure, and durable cash flow characteristics.”
Constructed in 2017, the institutional-quality facility is fully leased to a leading national bakery products supplier and serves as a mission-critical component of the tenant’s production and distribution network.
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