MINNEAPOLIS, May 31, 2023 /PRNewswire/ — Likewise Partners, LLC today announced Likewise Partners Industrial Fund I, LLC acquired the Engman-Taylor Industrial Portfolio consisting of 79,152 square feet in three-buildings located in Menomonee Falls, WI, Appleton, WI, and Machesney Park, IL for $7.0 million. The Likewise Wisconsin industrial holdings now total 500,000 square feet with an additional 1.5 million square feet of development capacity. Likewise targets industrial investment and development in Midwest markets including Minneapolis, Milwaukee, Madison, Des Moines, and Grand Rapids.
Engman-Taylor Industrial Portfolio
W142 N9351 Fountain Boulevard in Menomonee Falls, WI – 46,970 square feet
3311 E. Capitol Drive in Appleton, WI – 15,704 square feet
7980 Burden Road in Machesney Park -16,478 square feet
The properties were originally built and owned by Engman-Taylor. MSC Industrial Supply Co. acquired Engman-Taylor’s operations 2022. The portfolio is 100% leased with MSC Industrial Supply occupying 92% of the square footage. MSC is publicly traded with over $3.7 Billion in annual revenue.
“This transaction is consistent with our objective to acquire infill industrial properties with durable in-place income and appreciation potential,” said Steven Buss, Founder and CEO. “The Engman-Taylor Industrial Portfolio adds another high-quality industrial customer to our holdings and expands our geographic footprint to Wisconsin’s Fox Valley and the Beloit, WI/Rockford, IL industrial markets.”
Nick Keys and Roger Siegel with The Dickman Company, Inc. advised the Sellers in the disposition and Chris Carrol and Max Miller with Bellwether Enterprise arranged mortgage financing.
About Likewise Partners
Likewise Partners is an emerging advisor specializing in Midwest industrial real estate investment and development. Likewise was founded in 2020 by real estate veteran Steven Buss after a 25-year career at real estate brokerage firms CBRE and Jones Lang LaSalle. The firms’ principals have completed over 130 industrial transactions totaling 44 million square feet. Likewise Partners Industrial Fund I, LLC is advised by Steven Buss and Paul Koch. Paul Koch serves as a Director of The MPX Group, a Golden Valley, MN marketing, design, specialty printing and promotional products company and is a Business Consultant for Reese CPA Firm.
View original content to download multimedia:https://www.prnewswire.com/news-releases/likewise-partners-announces-acquisition-of-7-0-million-industrial-portfolio-301840103.html
SOURCE Likewise Partners, LLC
