Avison Young announces sale of 200,696-square-foot Pleasant Prairie, WI food production facility to Royal Oak Realty Trust

Chicago, IL – Global real estate advisory firm Avison Young today announced the sale of 10490 88th Avenue in Pleasant Prairie, Wisconsin, a 200,696-square-foot, state-of-the-art food production facility located within LakeView Corporate Park. The property was acquired by Royal Oak Realty Trust, a New York-based real estate investment trust (REIT).

The transaction was facilitated by Avison Young's U.S. Industrial Capital Markets team, led by Erik Foster, Principal and Leader, U.S. Industrial Capital Markets, and Mike Wilson, Principal. Foster and Wilson are based in the firm's Chicago office and represented the seller, EQT Real Estate.

"This transaction highlights the continued investor demand for high-quality, food-grade industrial assets with long-term tenancy," said Erik Foster, Principal and Leader, U.S. Industrial Capital Markets at Avison Young. "The Pleasant Prairie facility is an exceptional asset that combines modern construction, specialized infrastructure, and durable cash flow characteristics. We were pleased to help deliver a successful outcome for our client, EQT Real Estate and connect Royal Oak Realty Trust with a strategic acquisition that aligns with its investment objectives."

Located between Chicago and Milwaukee, Pleasant Prairie has become one of the Midwest's premier industrial markets, attracting national occupiers seeking access to major transportation networks and a growing labor pool. 

"Food production facilities continue to be among the most sought-after industrial investments due to their critical operational role, significant tenant investment, and strong occupancy fundamentals," added Wilson. "Assets like 10490 88th Avenue are rarely available, and the strong interest we received throughout the marketing process underscores the depth of capital targeting this segment of the industrial market."

Constructed in 2017, the institutional-quality facility is fully leased to a leading national bakery products supplier and serves as a mission-critical component of the tenant's production and distribution network. The property features modern food-grade infrastructure designed to support high-volume manufacturing operations and is backed by a long-term lease.

The transaction further demonstrates the ongoing strength of the industrial investment market, particularly for purpose-built facilities leased to established tenants under long-term agreements.