Oak Creek Forest Hill
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2015Year Acquired |
300,000 SFIndustrial Space |
OwnStatus |
Forest Hill Industrial (Nordco), located at 245 West Forest Hill Avenue in Oak Creek, Wisconsin is a 300,000 SF single tenant industrial facility. It is located adjacent to the new Drexel Town Square Development in Oak Creek with rail access and close proximity to I-43. Nordco occupies the entire project. The project was originally built in 1976 and substan ally renovated in 1996, 2003, 2004 and 2015.
Nordco has developed recent updates, including an overhaul of the warehouse and a complete rehabilitation of the office. Additionally, General Capital has funded parking lot repairs, landscaping and other improvements in combination with a substantial lease extension.
KEY THEMES
- Strategic industrial acquisition transformed a complex ownership situation into a stable, long-term single-tenant investment
- Large-scale manufacturing facility provides 300,000 SF of specialized industrial space with rail access and convenient proximity to I-43
- Long-term partnership with Nordco supported significant tenant and owner investment in modernization, operational improvements, and facility upgrades
- Strategic location adjacent to Drexel Town Square positions the property within one of Oak Creek's most active commercial and employment districts
- Proactive asset management strengthened lease stability, tenant credit quality, and long-term investment performance
RESULTS
- Acquired the 300,000 SF industrial facility in 2015 while simultaneously securing a new 10-year lease
- Maintained 100% occupancy with Nordco while supporting more than $1.5 million in tenant-funded warehouse and office improvements
- Strengthened tenant credit following Nordco's acquisition by global transportation technology company Wabtec
- Successfully returned 100% of original investor equity through refinancing while retaining ownership of the industrial asset
- Positioned the property for continued value creation through long-term tenancy, strategic capital improvements, and significant future leasing potential
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