Harken, Inc. Sells, Leases Back Pewaukee, Wis. Facility
The Barry Company brokers real estate transaction
Harken, Inc. has sold and entered into a long-term leaseback of its world headquarters located at N15W24983 Bluemound Road, Pewaukee, Wis. in a $15 million sale-leaseback transaction to HRKN LLC, a private real estate investment group that is not affiliated with Harken, Inc.
The 170,000 square foot industrial building with 30,000 square feet of second-floor office space was constructed in 2012 for Harken Inc.’s use.
“Completing this transaction will help accelerate our company’s growth. We will certainly continue to focus on organic growth and plan to stay right here in our home community of Pewaukee, Wis. With this sale, we may consider some strategic acquisition opportunities in our marine and industrial markets that will put this capital to work.” said Harken, Inc. co-owner and founder Peter Harken.
Harken, Inc. is a leading manufacturer and marketer of quality marine hardware and accessories that dominate such events as the America’s Cup and Olympics. Harken has invested significantly in new markets outside of the marine industry to chart a strong growth trajectory for the future in the safety and rescue markets. Harken manufactures in the USA and Italy. Its network includes offices in 48 countries, with group offices located in Australia, France, Italy, New Zealand, Poland, Sweden, the United Kingdom, and the United States (Rhode Island, California, and Florida).
“This sale-leaseback transaction is indicative of the strength of the industrial and investment markets in Southeast Wisconsin” said David Buckley of The Barry Company, who brokered the transaction. “We’re proud to have a relationship with Harken, Inc. and that we could structure a deal that satisfied all parties involved.”
About The Barry Company
The Barry Company, a 98-year-old independently owned and operated commercial real estate company, provides award-winning services throughout southeast Wisconsin and beyond. The Barry Company has a total of 18 awards from the Commercial Association of Realtors-Wisconsin, including two Realtor® of the Year awards. The company has also received multiple Best Deal/Lease of the Year awards from The Business Journal and has been awarded the Broker of the Year honor by Riverworks Development Corporation.
For more information, contact:
David J. Buckley
James T. Barry III, JD, CCIM