close
close

Unnamed buyer trying to acquire hundreds of acres in Town of Port Washington

An unknown buyer is looking to buy hundreds of acres of land located between I-43 and Highway LL in the Town of Port Washington. Image courtesy of Google Maps.

An unnamed entity is attempting to buy hundreds of acres of land in the Town of Port Washington and local officials believe the land could eventually be considered as the future site of a microchip manufacturing facility.

Several landowners west of I-43 and east of the Interurban Trail and have received offers to buy their land, as first reported Wednesday by the Ozaukee Press and later by Fox 6.

The news outlets named Jeff Hoffman, an industrial real estate broker and principal with Cushman & Wakefield | The Boerke Company, as the representative for the potential buyer.

Hoffman declined to comment for this story.

Mike Didier, chairman of the Town of Port Washington, said no formal plans have been presented to local officials and no company has come forward.

Several Milwaukee-area industrial real estate brokers told BizTimes Milwaukee they believe the deal to be in very early stages.

Didier learned residents had been approached by Hoffman, on behalf of the buyer, after hearing directly from the landowners themselves. All of the landowners he’s spoken to have been given information leading them to believe a microchip company is the type of business hoping to purchase the land, said Didier.

“That somehow leaked out and all the landowners are in agreement with that statement,” said Didier. “Of course, watching the news with the CHIPS Act grant, people are kind of putting two and two together, but it’s all speculation ultimately.”

The land is east of the Interurban Trail, generally between I-43, County Highway LL and County Highway P (Dixie Road), Didier said.

“It’s definitely in that LL, I-43 area somewhere,” he said. “I haven’t heard of anyone north of Dixie (Road) being talked to and I don’t know how far south.”

While farmland in the area is usually valued between $8,000 and $10,000 an acre, Didier said he’s had landowners tell him they’re receiving offers for $40,000 per acre – or higher. Some of those landowners have already begun accepting the offers, he added.

“The only thing that appears to be known for sure is that some identity is writing offers to purchase lots of land in that section of the Town of Port,” said Didier.

Representatives with the economic development agency Milwaukee 7 and with the city of Port Washington were not immediately available for comment.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *