(Janesville, WI) Construction activities began this week at 4298 Capital Circle, in preparation for a 150,000 SF industrial / warehousing building. Located in the City's Eastside Business Park, this speculative building will have the ability to serve a single user or multiple tenants, as the space will be divisible by 25,000 SF sections. The building is expected to be ready for occupancy fall 2015.
A summary of the property's features include: concrete tilt-up construction, 40'x50' bays, 30' ceilings, 6" concrete floors, high-efficiency HVAC / lighting systems and ample three-phase power. Provisions exist for finished office space (per 25,000 SF section), with additional flexibilities to amortize tenant related improvements on a case-by-case basis.
Gilbank Construction, Inc. is providing construction services for the project, while Angus Young Associates is performing the architectural, design and engineering services. Bill Mears, Coldwell Banker Commercial McGuire Mears & Associates, is providing brokerage services. Capital Circle I, which is represented by area developers Tom Lasse and Terry McGuire, will own the building.
To facilitate this project, the City of Janesville provided a Tax Increment Financing package.
According to James Otterstein, Rock County Economic Development Manager, "This project will provide a timely boost to the Class A inventory of industrial / warehousing space throughout the Janesville-Beloit MSA ."
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