Commercial real estate firm Transwestern announced that it has been retained as the exclusive listing agent for the 228-acre property, located at 5522 104th Ave. The property is just east of I-94 between 52nd Street and 60th Street.
The site is being marketed as the Midwest Innovation Center. Transwestern says the property could accommodate up to 2.3 million square feet of commercial development and could be the site of a corporate headquarters campus or a business park with space for manufacturing, warehousing and distribution. A conceptual plan for the property includes five buildings ranging in size from 120,000 to 650,000 square feet.
Transwestern principal Thomas Boyle and director Jared Paff are representing the owner, Birmingham, Ala.-based Pari-Mutuel Funding, in marketing the site. Pari-Mutuel Funding prefers to sell the site in its entirety.
“The Midwest Innovation Center’s size and visibility along Interstate 94 has already generated strong interest from prospective buyers that realize this site’s potential,” said Boyle. “It is one of only a few properties in Kenosha and Racine counties that can immediately accommodate a single building up to 1.2 million square feet. And because infrastructure is already in place, construction can begin much sooner than at other properties nearby, where issues like wetlands mitigation and public entitlements have yet to be resolved.”
The property has been vacant since the dog track closed 2009. The Menominee Indian Tribe of Wisconsin wanted to develop a Hard Rock Hotel and Casino complex on the site, but those plans were rejected earlier this year by Gov. Scott Walker.