Reich Brothers Partners with Rabin Worldwide for the Auction of Equipment and Redevelopment of the Oscar Mayer Facility in Madison
MADISON, WI Reich Brothers announces a partnership with Rabin Worldwide for the redevelopment of the recently purchased Oscar Mayer site in Madison, Wisconsin. Rabin brings deep industrial real estate and equipment expertise to the team, with over 50 years in the business.
Rabin and Reich will sell the entire contents of the Madison facility at a live and online public auction onsite.
"It will be an opportunity to buy high-quality equipment once used by the best in the business," said Richard Reese, President and CEO of Rabin. "The legacy of the Oscar Mayer name, combined with the enormous offering of equipment in this vast facility, make this a unique sales event."
"This auction event is the first of many steps in the long-term vision for the site and will prepare the site for reuse," said Adam Reich, Co-CEO of Reich Brothers.
Both Rabin and Reich have been involved in the redevelopment and reuse of tens of millions of square feet of industrial real estate. They have extensive experience in the purchase and sale of food manufacturing plants, as well as expertise in redeveloping large manufacturing sites.
"Our partnership is dedicated to repurposing the existing assets and attracting quality businesses," said Rabin COO, Shira Weissman. "We look forward to creating a site with a diverse tenant base and we envision this site becoming a cornerstone for the eastside Madison community."
One of Madison's mainstay businesses for nearly a century, Oscar Mayer has been at the location since 1919. The property has been the company's headquarters since 1957 and was the epicenter for new product development. Kraft Heinz announced the closure in 2015, and officially ceased production this summer.
The renowned former Oscar Mayer campus in Madison features 1.7 million square feet under roof on a 72-acre site. The plan is to redevelop the campus, including repurposing several existing buildings, with a balanced mix of light manufacturing, warehouse, distribution and office.