Press Releases
Marcus & Millichap Arranges Sale of Cadence Inc. Industrial Property in Sturgeon Bay, Wisconsin
June 10, 2025
STURGEON BAY, Wis., June 10, 2025 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of a net-leased industrial property occupied by Cadence Inc. in Sturgeon Bay, Wisconsin.
“With a long-term net lease in place and a corporate-backed tenant, this property is a strong hold for the buyer,” said Sam Malato, senior associate. “Sturgeon Bay’s manufacturing sector, coupled with its strategic location on the Great Lakes, continues to support steady economic growth and investor interest.”
Malato and Dominic Sulo, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a Green Bay-based developer, and procured the buyer, a private out-of-state investor. Todd Lindblom is the firm’s broker of record in Wisconsin.
Built in 2015, the property is situated on 7.72 acres at 1425 Neenah Ave. It is leased to Cadence Inc., a leading provider of advanced manufacturing solutions, with more than five years remaining on a corporate-guaranteed lease. Cadence was acquired in 2018 by Kohlberg & Company, a private equity firm with $30 billion in transaction volume.
“With a long-term net lease in place and a corporate-backed tenant, this property is a strong hold for the buyer,” said Sam Malato, senior associate. “Sturgeon Bay’s manufacturing sector, coupled with its strategic location on the Great Lakes, continues to support steady economic growth and investor interest.”
Malato and Dominic Sulo, investment specialists in Marcus & Millichap’s Chicago Oak Brook office, marketed the property on behalf of the seller, a Green Bay-based developer, and procured the buyer, a private out-of-state investor. Todd Lindblom is the firm’s broker of record in Wisconsin.
Built in 2015, the property is situated on 7.72 acres at 1425 Neenah Ave. It is leased to Cadence Inc., a leading provider of advanced manufacturing solutions, with more than five years remaining on a corporate-guaranteed lease. Cadence was acquired in 2018 by Kohlberg & Company, a private equity firm with $30 billion in transaction volume.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2024, the company had 1,712 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 7,836 transactions in 2024, with a sales volume of approximately $49.6 billion. For additional information, please visit www.MarcusMillichap.com.
