Avison Young has completed a 1.13-million-square-foot long-term industrial build-to-suit lease transaction in Chippewa Falls, Wisconsin.
The facility will address the distribution and growth needs of Mills Fleet Farm. The transaction was the culmination of a 12-month site selection, supply-chain analysis and space-optimization process for the $65 million project.
The new facility, being built on land purchased and being developed by Minneapolis-based Ryan Companies, will allow Mills Fleet Farm to modernize its supply-chain operations. With 37 locations across Minnesota, Wisconsin, Iowa and North Dakota, Mills Fleet Farm has been serving the Upper Midwest since 1955 as a retailer of lifestyle products helping active, outdoor families and suburban and farm consumers.
A Chicago-based brokerage team from Avison Young, consisting of Principal Brendan Kelly, SIOR, and Vice President Nick Esposito, coordinated a team of more than 30 persons from Mills Fleet Farm and investment firm KKR in evaluating multiple locations and determining the long-term distribution needs of Mills Fleet Farm. Kelly and Esposito were responsible for securing a $12.3 million incentive package. The overall team created project efficiencies that will reduce the development timeline by more than 12 months.
Construction on the 70-acre parcel in the Lake Wissota Business Park has begun, with completion projected for spring 2018. The business park is located at Seymour Cray Sr. Blvd. and Country Road in Chippewa Falls, WI, in the western section of the state. The distribution center is expected to employ more than 325 people when completed.