Avison Young has completed the sale of a state-of-the-art food production facility located at 10490 88th Avenue in Pleasant Prairie, Wisconsin. The 200,696-square-foot industrial asset sits within LakeView Corporate Park and is designed specifically for food-grade production, positioning it as a specialized component of the region’s logistics and manufacturing base.
The property was acquired by Royal Oak Realty Trust, a New York-based real estate investment trust focused on income-producing real estate. The acquisition adds a mission-critical industrial facility to Royal Oak Realty Trust’s portfolio, with all operations at the site dedicated to food production and distribution.
Avison Young’s U.S. Industrial Capital Markets team facilitated the transaction. The team was led by Erik Foster, Principal and Leader of U.S. Industrial Capital Markets, and Mike Wilson, Principal. Both executives are based in the firm’s Chicago office and represented the seller, EQT Real Estate, in the disposition of the asset.
Constructed in 2017, the building is described as an institutional-quality facility that combines modern construction standards with specialized food-grade infrastructure. The property is fully leased to a leading national bakery products supplier, which uses the facility as a mission-critical component of its production and distribution network. The long-term, single-tenant occupancy underpins the facility’s income profile and operational importance to the tenant.
In connection with the sale, Erik Foster noted that the transaction underscores sustained investor demand for high-quality, food-grade industrial assets backed by long-term tenancy. He highlighted that the Pleasant Prairie facility offers a combination of specialized build-out and durable cash flow characteristics that continue to attract capital to this segment of the industrial market.
The location within LakeView Corporate Park provides an established industrial setting for the facility, aligning modern construction and food-grade specifications with access to regional distribution corridors. With its recent vintage, specialized infrastructure, and fully leased status, the property reflects ongoing capital markets interest in mission-critical industrial assets serving essential consumer products such as bakery goods.
The sale further illustrates the role of dedicated industrial capital markets teams in matching institutional sellers like EQT Real Estate with REIT buyers seeking stable, long-duration cash flows from specialized logistics and production facilities. While specific pricing and financial terms were not disclosed, the transaction highlights continued activity in the food-related industrial segment and reinforces investor focus on assets with both functional specialization and established tenancy.
