May 5, 2021 11:00 AM
Newmark announces the sale of a 96,500-square-foot industrial property located at 1272 Dakota Drive in Grafton, Wisconsin. Newmark Directors Mitchell Starczynski, SIOR and Curt Pitzen represented the buyer, Yamato Corporation (Yamato), in the transaction. The seller was Rexnord Industries, LLC.
Yamato–a leading provider of automatic, commercial and industrial weighing solutions in North, Central and South America–is relocating from their former space, 35,347 SF at 6303 Eastwood Court in Mequon, Wisconsin. The company’s new space at 1272 Dakota Drive will include their assembly, parts and distribution operation.
“Yamato’s new building in Grafton provides them with additional space to accommodate their continued growth over the upcoming years. Yamato was also able to recognize the benefits of owning a corporate image building within an established business park. The proximity to I-43 and the nearby amenities was also a benefit,” said Mitchell Starczynski.
According to Newmark Research, the Milwaukee industrial market continued to expand, at a rate of 3 percent and is poised for near-term growth with over 5.5 million square feet under construction. The first quarter saw absorption of 239,962 square feet and vacancy fell 17 basis points to 4 percent in the Milwaukee industrial market.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2020, Newmark generated revenues in excess of $1.9 billion. To learn more, visit nmrk.com or follow @newmark.
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