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Recent Client Success: Local Developer Delivers Growth Solution to Local Technology Company

CHALLENGE

SSI Technologies Inc (SSI) is a global leader in design and manufacture of a variety of sensors and control systems for the international automotive and heavy vehicle markets. Locally, the company has 1,000 employees and currently operates from three facilities in Janesville, Wisconsin, with more than 400,000 square feet of combined manufacturing and office space. However, SSI was running out of production space, which put pressure on their warehousing needs.

 

ACTION

SSI approached Coldwell Banker Commercial McGuire Mears & Associates (CBC) in October 2017 expressing their need for additional warehouse space in order to free up its the manufacturing space. CBC collaborated with landlord Helgesen Properties to devise a temporary solution for SSI at its multi-tenant warehouse building at 1655 S Jackson St on Janesville’s south side, where SSI ended up leasing 16,000 square feet. Later that December, SSI again contacted CBC with an accelerated need of up to 60,000 square feet.

Recognizing that warehousing and manufacturing space suitable for SSI’s requirements was not currently available in the area, after considering a variety of potential alternatives, CBC broker Bill Mears reached out to local developer Badger Property Investments (BPI). BPI owns more than 1.5 million square feet of industrial properties, of which almost 500,000 has been constructed in the last three years, and had been planning to build a 60,000 square foot building in Milton, Wisconsin’s Crossroads Business Park, about 6 miles from one of SSI’s Janesville facilities. The logistics between Janesville and Milton worked well with the State Hwy 26 bypass providing access to and from the two cities.

Mears brought this project to SSI’s attention and, after some due diligence, it was determined that the site was too small for the estimated truck traffic and trailer storage. Mears then suggested a build-to-suit building on another site nearby. On April 18th, a lease was signed for a 60,000 square foot building, with delivery projected for fall of 2018.

 

RESULT

The City of Milton announced on April 18, 2018 that BPI would erect a 60,000 SF building at 1750 Putman Pkwy. Construction began the first of May.

— Local developer Badger Property Investments enlisted local architect Angus-Young Associates and local contractor Gilbank Construction for the project

— City of Milton provided Tax Increment Financing

— Crossroads Business Park added a new industrial tenant

 

TESTIMONIAL

“Any time we need more space to accommodate our growth, we’re comfortable knowing we can count on Bill to deliver. He has assisted us on numerous occasions in the past with our manufacturing and warehousing needs and, in fact, he’s one of the reasons we are in our Plainfield Avenue building to begin with. He’s a consummate real estate professional, who is very well connected with the southcentral Wisconsin market.”

                                              – Bruce Corner, Senior Vice President of SSI Technologies