NAI Hiffman represented CenterPoint Properties in its 300,410-square-foot lease renewal with Graham Packaging at 7100 Durand Avenue in Sturtevant, Wisconsin. Graham Packaging is a global leader in the design, sale, and manufacture of plastic containers for branded foods and beverages, personal care and specialty products, household products and automotive lubricants. The firm has operated its Sturtevant location since 1998.
NAI Hiffman also represented CenterPoint Properties in a 50,000-square-foot lease expansion with Parker Plastics at 8201 109th Street in Pleasant Prairie, Wisconsin. The privately-held, wholesale packaging company now occupies a total of 125,175 square feet at this location.
Demand in Southeast Wisconsin continues to be driven by users seeking lower operating costs, economic development incentives, tax advantages and abundant land opportunities. The submarket has continued to tighten during the third quarter of 2015 with nearly 1.5 million square feet of positive net absorption recorded, boosting its year-to-date figure to nearly 3.8 million square feet.
Whit Heitman, Sam Badger, SIOR, and Brad Weiner, with NAI Hiffman’s Industrial Services group, represented CenterPoint Properties in the transaction. Britt Casey and Kemp Conrad of Cushman & Wakefield represented Graham Packaging. Ryan Bain and Sean Kropke of CBRE represented Parker Plastics.