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Chicago & Midwest  + Midwest  + Industrial  | 

NY Investor Acquires Petco Facility in Rhinelander

CBRE arranged the sale of a 179,000-square-foot Petco distribution and office center in Rhinelander, WI. The property, located at 2253 Airpark Rd., sold to New York-based Evergreen Trading for an undisclosed sum.
 
CBRE’s Justin Felix and Andy Lubinski represented Petco and CBRE’s David Opper represented Evergreen. The facility was purchased as part of a larger business deal between Petco and Evergreen, which has since relisted the property for sale or lease with Lubinski and Felix.
 
“This was a complex deal with several moving parts,” said Felix. “We had to get very creative in how we structured the deal and, ultimately, we were able to achieve a win for our clients on both sides of the deal.”

Evergreen SVP Jonathan Sorkenn said, “This is our first acquisition in 2021 and we expect increased activity in the sector due to the greater number of properties impacted by the COVID-19 pandemic.”

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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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