Lee & Associates, one of the largest national commercial real estate providers in North America, has closed a $24.5 million acquisition of 223 acres of land in Caledonia, WI, formerly known as South Hills Country Club.
Thomas Boyle, SIOR, principal of Lee & Associates, represented New York-based Ashley Capital in its acquisition. The national developer is planning a four million-square-foot, Class A industrial business park on the site. South Hills Commerce Center will contain 10 buildings ranging in size from 218,400 square feet to 554,000 square feet. The project is expected to generate approximately 2,000 local jobs for Southeast Wisconsin.
The land acquisition is the largest in Southeast Wisconsin since Microsoft acquired 467 acres in Mount Pleasant in late 2023.
“We are excited to begin our initial civil work this year and look forward to collaborating with the Village of Caledonia to ensure the long-term success of this project,” said Chris Rubacha, Co-Founder and Principal of Ashley Capital. “This acquisition provides Ashley Capital with a development pipeline to expand our investment along the I-94 corridor in Southeast Wisconsin.”
The seller was Hintz Real Estate Development Co. LLC.
About Lee & Associates
Lee & Associates offers an array of real estate services tailored to meet the needs of the company’s clients, including commercial real estate brokerage, integrated services, and construction services. Established in 1979, Lee & Associates is now an international firm with offices throughout the United States and Canada. Our professionals regularly collaborate to make sure they provide their clients with the most advanced, up-to-date market technology and information. For the latest news from Lee & Associates, visit lee-associates.com or follow us on Facebook, LinkedIn, Twitter and Link, our company blog. For more Lee & Associates of Illinois happenings, connect with us on LinkedIn, Twitter and Instagram.
