An affiliate of New York-based Lexington Realty Trust, a real estate investment trust, purchased the new Stella & Chewy’s headquarters building for $22.6 million, according to state records.
The 164,007-square-foot building, completed earlier this year, was built by Rosemont, Ill.-based Venture One Real Estate. An affiliate of Venture One sold the building to the Lexington Realty Trust affiliate.
Stella & Chewy’s, a producer of natural pet food for dogs and cats, moved from Milwaukee into the Oak Creek building in May. The building has 90,000 square feet of production space, 24,000 square feet of office space, 20,000 square feet of dry storage space and 20,000 square feet of freezer storage space.
The building is located at 111 W. Oakview Parkway in the OakView Business Park, a 220-acre business park that is being developed by Wispark LLC southwest of West Oakwood Road and South Howell Avenue.
Venture One bought the 17.8-acre site last year for $1.55 million. The site has enough space that the building could be expanded to 280,000 square feet of space in the future.