On Wednesday, January 29, the Village of Pleasant Prairie closed on a property agreement with HSA Commercial Real Estate for two parcels of land, totaling approximately 68 acres in the Village of Bristol. The area is located on the east side of County Highway U, immediately west of Prairie Highlands Corporate Park. HSA purchased the property from Pleasant Prairie for $8.9 million.
Pleasant Prairie acquired the property with the land purchased from Abbott Labs in May 2017. The acquisition was a significant investment by Pleasant Prairie, acquiring approximately 458 acres of highly desirable land, located at the northwest corner of County Highway Q and I-94. The area was purchased and combined with an adjacent property owned by the Village to create the new corporate park, Prairie Highlands, which has a focus on manufacturing, office, and commercial uses.
The two parcels purchased by HSA are in Bristol, outside the jurisdiction of Pleasant Prairie. However, both Bristol and Pleasant Prairie have entered into agreements for Pleasant Prairie to provide retail water and sanitary sewer services to the land in Bristol. Pleasant Prairie will extend sewer and water utilities to the municipal boundary. The upfront capital costs for extensions into the two HSA parcels will be the responsibility of the Village of Bristol or its developers. After the extensions are installed, Pleasant Prairie will be responsible for maintaining, operating, and providing retail services for the extended utility mains.
HSA is a privately held, full-service real estate development and investment firm based in Chicago. They plan to develop three speculative warehouse buildings on the 68 acre site, totaling approximately 1,000,000 square feet to be known as the Bristol Highlands Commerce Center. Construction on the first building could begin later this year.
A map of the area is available
here.