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Chicago & Midwest  + Midwest  + Retail  | 

Big-Box Retail Fetches $36M in Wisconsin

Stan Johnson Company (SJC) completed the sale of a big-box retail property located in Oconomowoc, WI, 30 miles west of Milwaukee, and fully-leased to Fleet Farm. The 218-628-square foot property and accompanying convenience store were purchased for $36.4 million by Minneapolis-based SR Realty Trust Inc.

SJC’s Tom Fritz, Brandon Duff and Christina Pecoraro represented the seller, a developer from the Appleton/Green Bay, WI area. “This was one of the first of Fleet Farm’s newer prototypical stores to have sold in the open market,” said Fritz.

He added, “In today’s marketplace, it’s rare to see 200,000-plus-square-foot retail big box stores sell, due to increasing online competition and retailers downsizing into smaller footprints. However, the amount of interest in this asset speaks to the strength of the Fleet Farm business model, and reinforces that retail is still a very necessary part of the future of real estate.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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