Newmark Secures 179,000-Square-Foot Industrial Lease in Janesville, Wisconsin

January 9, 2023 1:00 PM

Newmark announces the 179,000-square-foot lease of a recently completed, state-of-the-art industrial property on behalf of Phelps Pet Products (“Phelps Pets”), a leading manufacturer of specialty dog treats, at 400 West Venture Drive in Janesville, Wisconsin. Newmark Senior Managing Directors Michael Prost and Sergio Chapa represented the tenant, Phelps Pets, in their lease of the Class A speculative industrial building. Newmark Global Corporate Services Director of Location Advisory, Global Strategy Carrie Zethmayr supported the transaction.

“Phelps Pets’ tremendous growth served as one of the primary motivators for their search in finding a new space,” said Prost. “This new production facility marks Phelps Pets’ first ‘paw-print’ in the Wisconsin market. The primely located, Class A spec industrial development was the perfect opportunity for our client, and we look forward to witnessing their continued success at the new facility.”

The brand-new, build-to-suit industrial building is functionally designed and equipped with high-bay LED lighting, 18 loading docks, 25 trailer parking stalls and 175 car parking spaces. The property is strategically located along the I-90/I-39 corridor in Janesville, providing convenient access to the Milwaukee and Chicago metropolitan areas.

“This state-of-the-art facility is in a great location and more than doubles the Phelps Pet treat-making production capacity while enabling the company to benefit from the highly-skilled local workforce,” stated Rick Ruffolo, CEO & President of Phelps Pet Products.

About Phelps Pet Products
Phelps Pet Products is a privately-held market-leading producer of custom private label and national brand dog treats, cat treats, and pet food. Founded in 1966, the Company is headquartered in Rockford, Illinois and is the “behind-the-scenes” innovation partner to many of the most influential retailers and brands in the category with products that can be found in over 50,000 retail stores throughout the U.S., as well as in many countries around the world. (www.phelpspet.com)

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. Newmark generated revenues of approximately $3.1 billion for the twelve months ending September 30, 2022. Newmark’s company-owned offices, together with its business partners, operate from approximately 180 offices with nearly 6,700 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.