Frontline Commercial Real Estate’s speculative warehouse development in Oak Creek, Wisconsin, endured delays caused by COVID-19, construction material shortages, rising costs, and multiple site and zoning changes.
The timing eventually worked out as Utah freeze-dried products seller Thrive Foods increased its space needs for a new warehouse over the same time as it considered locations in multiple states.
By the time the Wisconsin developer secured an occupancy permit, Thrive was ready to lease the entire 340,623-square-foot building at 9141 S. 13th St.
That earned the project located between Milwaukee County and the Illinois border a CoStar Impact Award, as judged by real estate professionals familiar with the market.
About the project: American Fork, Utah-based Thrive plans to have more than 250 employees in the facility along Interstate 94.
What the judges said: “New employment added to the I-94 corridor is a nice bridge between the Illinois border and Milwaukee,” wrote Rickey Shneyder, partner at Crux Commercial Partners.
They made it happen: Newmark broker Stephen Provancher represented Thrive in the lease. Frontline’s John Schlueter represented the landlord.
