PLEASANT PRAIRIE, WIS – January 22, 2019 – CBRE recently represented Doheny’s in a sale leaseback transaction at 10411 80th Ave. in Pleasant Prairie, Wis.
Sam Badger, SIOR, Whit Heitman, Brad Weiner and Jared Paff of CBRE represented Doheny’s in the transaction.
Doheny’s sold the 195,415-square-foot property to Boston-based STAG Industrial Holdings, LLC for approximately $16 million and entered in to a long-term lease with new ownership.
STAG is considering a 95,000 square foot expansion to the property this summer. Stag and CBRE will market the additional space for lease.
“Doheny’s was able to take advantage of the strong momentum in the area industrial market with no disruptions to its operations,” said CBRE’s Badger. “New ownership will benefit from expanding the property and realizing new rental income. It was a win-win for everyone.”
Doheny’s, family owned since 1967, is a swimming pool supply company with eight distribution centers nationwide.
The CBRE North team of Badger, Heitman, Weiner and Paff completed 68 deals in 2018, making it one of its most active years on record. The team formed in 2001 and has completed more than 1,000 transactions in that timeframe. With more than 60 years of combined experience, the team continues to build its resume and reputation as one of the most successful industrial brokerage teams in the Northern Chicago and Southern Wisconsin regions.
Sam Badger, SIOR, Whit Heitman, Brad Weiner and Jared Paff of CBRE represented Doheny’s in the transaction.
Doheny’s sold the 195,415-square-foot property to Boston-based STAG Industrial Holdings, LLC for approximately $16 million and entered in to a long-term lease with new ownership.
STAG is considering a 95,000 square foot expansion to the property this summer. Stag and CBRE will market the additional space for lease.
“Doheny’s was able to take advantage of the strong momentum in the area industrial market with no disruptions to its operations,” said CBRE’s Badger. “New ownership will benefit from expanding the property and realizing new rental income. It was a win-win for everyone.”
Doheny’s, family owned since 1967, is a swimming pool supply company with eight distribution centers nationwide.
The CBRE North team of Badger, Heitman, Weiner and Paff completed 68 deals in 2018, making it one of its most active years on record. The team formed in 2001 and has completed more than 1,000 transactions in that timeframe. With more than 60 years of combined experience, the team continues to build its resume and reputation as one of the most successful industrial brokerage teams in the Northern Chicago and Southern Wisconsin regions.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
