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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.”
- ◦Sale

