Kingsbarn Realty Capital has acquired Mills Fleet Farm’s flagship store in Appleton, Wis.
The property comprises five separate buildings on 32.28 acres. The 431,440-square-foot commercial property includes the flagship retail store (273,175 square feet), an industrial building (143,883 square feet), two gas stations (7,296 square feet), and a car-wash building (7,086 square feet). The Fleet Farm triple-net lease is for an initial 20-year term.
“While many retailers are closing stores, Fleet Farm is expanding, having opened six new stores over the past two years,” stated Kingsbarn CEO Jeff Pori. “Founded in 1955, Fleet Farm is a proven product that has been operating for over 65 years. They have an ecommerce resistant product mix, as they are similar to wholesale club stores like Costco, Sam’s Club and BJ’s Wholesale Club,” Pori further explained. Fleet Farm currently operates 53 stores throughout the upper Midwest.
Fleet Farm was acquired by privat
