Development

Case Study

Stella & Chewy’s

111 Oakview Parkway, Oak Creek, WI

Property Details

TRANSACTION TYPE

Build-to-Suit

TRANSACTION DATE

2014

PROPERTY SIZE

164,007 SF

Stella & Chewy’s, a leading natural pet food brand, selected Clayco and Venture One Real Estate to serve as developer for its new build-to-suit. This building serves as their global headquarters and includes 20,000 square feet of freezer and 88,000 square feet of cooler as well as space for production, packaging, distribution, and research and development. Initially, the new facility will employ 130 full-time people. The building offers expansion capability of 117,000 square feet to accommodate their rapid growth.

The period from groundbreaking to completion totaled only nine months despite the complexity of building. This was the first lot sale Oakview Business Park and there was significant due diligence with the purchase and planning process that was completed by the developer. Both state and local incentives were secured for the project.

The project was financed by and upon completion sold to Lexington Realty Trust subject to a presale agreement.