Beloit, WI (PRWEB) September 29, 2016
Hendricks Commercial Properties (HCP) inked a deal with Fiat Chrysler supplier, Toledo Molding and Die, Inc. (TMD) to lease their 105,000 SF speculative industrial building currently under construction. The site is located at the northeast corner of Willowbrook and State Line Road in the Wisconsin Stateline Industrial Park in Beloit, WI. TMD will bring 118 new jobs to the area as it gears up to manufacture molded automotive parts for the hot-selling Jeep Cherokee at the Fiat Chrysler plant in Belvidere, IL.
TMD is headquartered in Toledo, Ohio and currently has nine other manufacturing plants located in North America. TMD’s Chief Operations Officer, Dave Spotts, commented “We are excited to be expanding our operations in the southern Wisconsin region. The Beloit community is ideally located to support our continued partnership with Fiat Chrysler in the Belvidere Assembly plant. The support we have received from the Hendricks’ team, as well as state, county and local officials has been outstanding and we are looking forward to the successful launch of our newest facility.”
Founded in 1955 as a model and pattern shop, TMD has grown to be a global supplier of interior and air/fluid management systems. "Plastics manufacturing is a key industry driver for both the State of Wisconsin, as well as the Janesville-Beloit MSA, and we look forward to adding TMD’s project to the growing list of firms that are investing in our market”, said James Otterstein,Rock County Economic Development Manager.
In response to the scarce supply of Class A industrial product in the region, HCP started construction of the spec building in May with a planned completion and occupancy in November. “The fact that TMD has chosen Beloit and HCP for their expansion before the building is even completed demonstrates the demand for high quality, Class A industrial buildings in the area. They are a fantastic company that brings good-paying manufacturing jobs to our community,” commented Rob Gerbitz, CEO of Hendricks Commercial Properties, “This building is the prototype for similar industrial development projects we are in the process of starting across the country so we are pleased to see how well it has been received here.”
The 28-acre business park can accommodate multiple buildings and over 400,000 SF of industrial space with easy access and visibility to I-39/90. Chase Brieman of CBRE, Inc. initially presented the property to HCP then HCP worked with the City of Beloit to acquire and develop the newly created site.“We are excited that the first phase of the development is now fully leased. The combination of a high-quality building, constructed to today’s modern standards, interstate frontage and nearly immediate access to I-90, as well as a great partnership between HCP and the City of Beloit, ensured the success of the project,” said Brieman. HCP plans to start another 105,000 SF building in the park as well. Corporate Contractors, Inc. is the general contractor and Angus Young Associates is the Architect for the development. Beloit City Manager, Lori Curtis Luther, added, “This project is an excellent example of how public/private partnerships continue to benefit our community”.
About Hendricks Commercial Properties
For more than 30 years, Hendricks Commercial Properties (HCP) of Beloit, Wis. has worked with clients to transform their commercial real estate visions into realities. Established to help communities and small businesses thrive by their commitment to helping retailers flourish and serving as an active partner in communities in which they have property. HCP offers the full spectrum of real estate development needs, including site selection, licensing and permitting, property acquisition, due diligence, construction management and financing. HCP manages and owns more than 12 million square feet of real estate property in 34 states.