In mid-2021, Cushman & Wakefield along with Cushman & Wakefield | Boerke, presented a proposal to secure the disposition task for a prominent national corporate entity, Mattel. The company had been situated on the expansive Middleton campus, spanning over 524,000 square feet, since its establishment back in 1989.
By early May 2022, the deal finalized with SARA Investment Real Estate successfully acquiring the facility for a total of $24.9 million.
Boerke’s Robert Fulford and Tarek Saleh collaborated seamlessly with SARA Investment Real Estate to promptly identify a range of interested occupants. Within a span of six months, the facility underwent a remarkable transformation, evolving from complete vacancy to becoming fully leased to four regional and national industrial users.
After facing the setback of losing over 55 jobs due to the closure of American Girl, the landscape shifted positively. Thanks to the efforts of Quest-ProMach, Plastic Ingenuity, and an undisclosed tenant, who respectively contributed several hundred jobs combined, the community experienced a noteworthy boost in employment opportunities.
Within ten months of closing, the fully leased campus was under contract again for sale. The ultimate purchaser turned out to be General Capital Group, who acquired the reimagined former American Girl campus at a notable price of $43.5 million.
“We are thrilled to see a positive conclusion after announcing the closure of this campus. The space is now occupied by tenants committed to growing the Middleton and Madison metro economy,” Fulford remarks.
These transactions showcased Cushman & Wakefield | Boerke’s expertise in connecting with buyers, filling space in a tight market, and turning job losses into gains for local communities.
If you would like more information about the full circle transaction reach out to lepperson@boerke.com.
