A business with origins dating back 60 years in Appleton, Wisconsin, inked a long-term deal for an industrial building in a sign of the company's ongoing commitment to the city and state.
Chemical manufacturer Encapsys LLC signed a lease for 27,300 square feet at 3350 S. Eisenhower Drive in the Southpoint Commerce Park, owned by F Street Group of Milwaukee, Wisconsin.
The lease keeps the business at the location for at least the 15-year term, earning the deal a 2023 CoStar Impact Award, as judged by a panel of real estate professionals familiar with the market.
Encapsys, which produces microcapsules for industrial use, was spun off in 2015 from Appvion, formerly Appleton Papers, one of the city’s oldest businesses. South Carolina-based Milliken & Co. acquired Encapsys in 2021.
About the deal: Encapsys in April signed the deal for the building in the 220,000-square-foot Southpoint Commerce Park that opened in 2021. The industrial park has 16 loading docks, four drive-in doors, 28-foot-clear height and 3,000-ampere/480-volt heavy power.
What the judges said: The building is a Class A industrial property that fills a significant gap in the marketplace, while the lease "is a catalyst for continued economic investment in the region and state of Wisconsin,” said Barb LaMue, CEO of New North Inc., an 18-county regional economic development corporation in northeast Wisconsin.
They made it happen: CBRE’s Karl Wiedenman, first vice president, Andrew Lubinaki, executive vice president, Aaron Whitmore, associate and Justin Felix, transaction manager, represented the landlord.