Zilber Property Group, a commercial real estate investment company that’s launched several Kenosha County speculative industrial facilities, has purchased a 22.8-acre land tract in Pleasant Prairie for $700,000 with an eye to developing another project.
The proposed project, to be located southwest of 108th Street and Green Bay Road, is adjacent to the LakeView Corporate Park where Zilber, based in Milwaukee, has developed other projects.
Pleasant Prairie’s community development director, Jean Werbie-Harris, said the land is zoned M-1 for limited manufacturing and warehouse assembly. The site could feature one building or up to three different structures. It could accomodate one tenant or more than one, depending upon square footage and demand.
Werbie-Harris said Zilber’s purchase represents its strong commitment in the area. “It’s a continued investment in Pleasant Prairie,” she said.
Zilber officials could not be reached for comment.
Meanwhile, several plan approvals are expected before any construction can begin.
Rocco Vita, a real estate analyst for Pleasant Prairie, described the site as a good location that is close to transportation routes.
Vita noted speculative industrial development has been successful in Kenosha County because developers can build a facility and then market it to tenants who might not want to own a building and might not want to wait for one to be constructed.
Companies that want to expand or relocate their operations are more likely to want a site that is already constructed.
Speculative construction also comes at a time when there is a high demand for manufacturing and warehouse space.
Vita said Kenosha County is attractive because there is affordable, available land, a ready workforce and educational and training institutions such as Lakeview Technical Academy and Gateway Technical College. Those ingredients help to fuel industrial development in Kenosha County.
“What is happening is that there is infrastructure here,” Vita explained.
Kenosha County executive Jim Kreuser has said the county has an advantage and companies want to come here because “we have shovel-ready land.” The physical infrastructure — such as water and sewer lines, curbs and access roads — are already in place.
“This economic growth is positive for the community,” said Werbie-Harris. “We’re moving to a a more stable economy that is producing more jobs. this kind of investment means we’re moving past the recession.”