Madison –February 23, 2016 – CBRE has received the Commercial Brokers Group of Madison’s 2015 Industrial Deal of the Year award at a ceremony held on February 17.
Brian Wolff, Vice President at CBRE Madison was recognized for his work on the industrial sale of the former Spartec/PolyOne plastics facility, located at 1320 and 1325 Adams Street in Portage. The approximately 105,255 square foot facility featured a rail spur, several overhead cranes as well as its own tank farm. The facility was purchased by a Minnesota-based manufacturer for $1,275,000 in order to expand its operations into Wisconsin.
The offering generated interest from various companies, including a Minnesota plastics manufacturer, who saw potential in the property. The city and the Wisconsin Economic Development Corporation (WEDC) were able to offer potential incentives to the new company, which helped make the sale possible. The new company plans to provide more than 40 new full-time positions in the Portage area.
“It’s an honor to be recognized for all the work we do for our clients,” said Vice President Brian Wolff of CBRE Madison. “It was a win for all parties involved, with Spartec/PolyOne being able to sell their facility and for the new owners to be able to bring more jobs to the area.”
The Commercial Brokers Group of Madison’s Deal of the Year awards recognize the most notable commercial real estate transactions during the past year, determined by an independent panel of professionals. Considering factors include size, dollar volume, transaction difficulty, unique situation as well as contributions to the community.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.