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Dermody Properties Wins Industrial Deal of the Year Award from Commercial Association of Realtors Wisconsin
Dermody Properties was awarded the 2024 Industrial Deal of the Year by the Commercial Association of Realtors Wisconsin in recognition of a build-to-suit lease for LogistiCenter® at Pleasant Prairie to Smurfit Westrock, a global leader in sustainable packaging.
Dermody Properties, represented by Colliers, leased 593,565 square-feet of space at LogistiCenter® at Pleasant Prairie to Smurfit Westrock for a centralized corrugated operations facility serving its Great Lakes region customers. LogistiCenter® at Pleasant Prairie’s prime location in Southeast Wisconsin and direct rail access for transportation of raw materials met two of the criteria deemed critical by Smurfit Westrock for its advanced manufacturing facility.
“It’s an honor to receive recognition from the Commercial Association of Realtors,” said Neal Driscoll, Midwest Region Partner at Dermody Properties. “We’re grateful to Smurfit Westrock for recognizing the value of LogistiCenter® at Pleasant Prairie, and for entrusting us with their new regional operations hub. Our success is also made possible by our strong partnership with Riley Construction, Colliers, Partners in Design Architects and Pinnacle Engineering.”
In June 2023, Dermody Properties strategically acquired the site of the former We Energies power plant to develop LogistiCenter® at Pleasant Prairie—a three-building, 2,384,765 SF industrial park with unparalleled access to rail, power and fresh water. Smurfit Westrock signed its lease just months after the acquisition.
LogistiCenter® at Pleasant Prairie’s unrivaled dual rail service, powered by the Union Pacific Railroad and Canadian Pacific Kansas City railway, will reduce the delivery of raw materials by approximately 150 truck trips, reducing environmental impact and significantly cutting transportation costs for Smurfit Westrock by several million dollars per year.
Smurfit Westrock’s manufacturing facility will be the first building in LogistiCenter® at Pleasant Prairie, with delivery expected in Q2 2025. The company’s expansion is expected to bring 175 new jobs to the region.Dermody Properties currently has four properties available in its Midwest Region totaling 5.5 million SF, including additional space at LogistiCenter® at Pleasant Prairie with flexibility to accommodate build-to-suits from 250,000 to 1.8M SF. For more information, visit the Midwest Region page on the Dermody Properties website.