Pet Food Company Takes 179 KSF in Wisconsin
Newmark brokered the full-building deal on behalf of the tenant.
Newmark has completed a full-building, 179,000-square-foot lease deal at Zilber Industrial 3, a recently completed industrial asset in Janesville, Wis. The company worked on behalf of the tenant, Phelps Pet Products, a manufacturer of specialty dog treats. The landlord and developer is Milwaukee-based Zilber Property Group, according to ConnectCre.
The deal marks Phelps Pet’s first space in the Wisconsin area and, while expanding its packaging and processing capabilities, the new tenant is expected to bring 103 employees until 2024, according to Alliant Energy.
The new built-to-suit, Class A production facility is located at 400 W. Venture Drive and is equipped with 18 loading docks, high-bay LED lighting systems, 25 trailer parking spots and 175 vehicle parking spots. The industrial property is situated 3.5 miles from Southern Wisconsin Regional Airport, along the interstates 90 and 39 corridors, providing easy access to Milwaukee, Madison, Wis., and Chicago.
Newmark’s team formed of Senior Managing Directors Michael Prost and Sergio Chapa negotiated on behalf of Phelps Pets Products, while the same company’s Global Corporate Services team led by Director of Location Advisory & Global Strategy Carrie Zethmayr arranged the transaction.
Another company is active in Wisconsin, not that far from Janesville: In November 2022, HSA Commercial Real Estate started construction on Bristol Highlands Commerce Center West, a three-building industrial project, and on Highland Commerce Center of Somers, one of the largest speculative industrial buildings in the state’s history.