KK Integrated Logistics purchases former Clearwater Paper Co.
January 4, 2022
KK Integrated Logistics, a privately-owned company headquartered in Menominee, Michigan, has purchased the former Clearwater Paper Company property in Neenah, Wisconsin.
Cynthia Kuber, KKIL president, said the purchase consists of a 250,000-square foot warehouse on the west side of Lake Street, and the nearly 1.2 million-square-foot mill site on the east side of Lake Street, with frontage on Little Lake Butte Des Morts. The transaction was handled by Andy Lubinski and Justin Felix of CBRE. Financing was provided by Community First Credit Union.
The warehouse site is currently being renovated to accommodate a new tenant, Trilliant Food & Nutrition, that will take occupancy of the entire building by April 1st. Areas of the mill site will be utilized as warehouse space and is expected to be ready in early 2022 after mill equipment is removed.
Plans are being explored for potential uses for the six-story south section of the building. A feasibility study is being considered to determine if converting the six-story south side of the mill to apartments, with indoor parking, a rooftop outdoor area, and numerous amenities is worthwhile. The apartments would overlook Little Lake Butte Des Morts and enjoy a large green area between the building and the lake. The mill site has an interesting history dating back to the early Kimberly-Clark Corp. paper operations in Wisconsin.
KK Integrated Logistics owns 5.4 million feet of space in Michigan, Wisconsin, and Indiana. Recent acquisitions include the former First National Bank building in Menominee for its corporate headquarters. In December 2019, KKIL purchased the 500,000-square-foot former Shopko distribution center in DePere, Wisconsin, which has been completely renovated and is fully leased to five tenants. KKIL purchased the 363,000-square-foot former KSG building in Marinette, Wisconsin, in September 2021.