CHICAGO, January 12, 2017 – Cushman & Wakefield has announced that Colbert Packaging Corporation, a leading manufacturer of folding cartons, rigid setup boxes and paperboard specialty products, has acquired a 173,000-square-foot industrial facility at 9949 58th Place in Kenosha, Wis. The recently constructed, Class A warehouse will serve as the Lake Forest, Ill.-based company’s manufacturing facility for its flexographic packaging operations and related services.
Cushman & Wakefield Senior Director Eric Fischer, Executive Directors Brett Kroner and Keith Puritz and Senior Managing Director Bradley Migdal represented Colbert Packaging in the transaction. The seller, Zilber Ltd., was represented by Sergio Chapa of Newmark Grubb Knight Frank.
“We started the flexo division 18 years ago and have since been through two expansions. We’re excited to be making this significant investment for expansion that will be the footprint for our projected growth into 2020 and beyond,” said Jim Hamilton, president of Colbert Packaging.
Colbert’s new facility will consolidate and relocate its flexographic manufacturing operations from Lake Forest and Libertyville, Ill., in a move that is expected to bring 100 jobs to Kenosha. The company’s corporate headquarters will remain in Lake Forest. It also has a 109,000-square-foot plant in Elkhart, Ind.
“After a comprehensive site selection and negotiation process, this transaction came together as a result of the collaborative efforts of many,” said Fischer. “It was a pleasure to see this project to completion, and we are confident that Colbert’s new facility will drive operational efficiencies, accommodate future growth plans and position the company for continued success.”
Situated on 16 acres within the Business Park of Kenosha, 9949 58th Place is located just over the Wisconsin border and less than a mile from Interstate 94 via Highway 158. The industrial speculative building’s interior is currently being built out to meet Colbert’s manufacturing and office space specifications. Constructed in 2015, the property comprises 18 loading docks, 216 parking spaces, 30’ clear height and an ESFR sprinkler system.
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