PLEASANT PRAIRIE, Wis., June 27, 2024 /PRNewswire/ -- Dermody Properties—a diversified private equity investment management company focused exclusively on the national logistics real estate sector—is pleased to announce that WestRock, a global leader in sustainable packaging, has signed a build-to-suit lease at LogistiCenter℠ at Pleasant Prairie. WestRock is establishing a Great Lakes regional corrugated operations hub and will require more than 580,000 square feet within Wisconsin's newest rail-served logistics park.Dermody Properties, along with WestRock, officially broke ground on the LogistiCenter℠ at Pleasant Prairie Thursday, June 27, 2024. Pictured from left to right: Don Sparaco, Senior Vice President, Corrugated Operations, WestRock; David Sewell, Chief Executive Officer, WestRock; Pat Ortiz, Director Strategic Projects, WestRock; Joseph Grimes, Senior Vice President, Development, Dermody Properties; Neal Driscoll, Midwest Region Partner, Dermody Properties; Elizabeth Kauchak, Chief Operating Officer, Dermody Properties; Ryan Sikorski, Vice President, Dermody Properties; Chuck Mathieu, Senior Project Manager, Riley Construction; Erik Dillon, Vice President Operations, Riley Construction."We are pleased that WestRock is entrusting Dermody Properties to build its advanced manufacturing facility in southeast Wisconsin," said Neal Driscoll, Midwest Region Partner at Dermody Properties. "We could not have scripted a better partner to kick off the park, and we look forward to working closely with WestRock and the Village of Pleasant Prairie to complete what we believe will be a best-in-class project."The Village of Pleasant Prairie sits at the southern doorstep of Wisconsin and has witnessed considerable expansion in the past decade as local companies have grown. Businesses have been attracted to the state's friendly business climate, availability of labor and high quality of living. LogistiCenter℠ at Pleasant Prairie—Wisconsin's only rail-served, build-to-suit logistics park—is part of Dermody Properties' growing portfolio in the thriving Midwest market.WestRock announced in January 2024 that it would begin building a new corrugated box plant in Pleasant Prairie to meet growing demand from customers in the Great Lakes region."WestRock's new corrugated converting facility in Pleasant Prairie will use state-of-the-art automation and enhanced capabilities to improve product quality and customer satisfaction," said David B

WestRock stockholders approved a merger with Smurfit Kappa, forming Smurfit WestRock, expected to revolutionize the paper and packaging industry. However, the merger is overshadowed by reports of worker exposure to carcinogens at WestRock's Longview plant, raising safety concerns. Additionally, WestRock reported a negative ROI of -8.56% and a net loss of $1 billion in Q4 2023, questioning its financial health.

The grant will support a rail project to enable corrugated packaging company WestRock to open a new manufacturing facility and create 177 jobs in the village.