Goodwill Industries of Southeastern Wisconsin Inc.
has sold its former headquarters campus in Greendale for $8.2 million, according to state records.
The 14-acre property has a 164,800-square-foot building. It was sold to an affiliate of Hexagon Inc.
, a private investment company with offices in Denver and Pewaukee.
The Greendale property was originally the headquarters for Reiman Publications, which published numerous country-oriented publications, including Taste of Home magazine. Reiman Publications, and the Greendale campus, was acquired by Reader's Digest Association in 2002.
Goodwill bought the property in 2014
from an affiliate of Reader's Digest for $6 million.
Hexagon manages assets for a few groups, including the Reiman family. Reiman Publications was founded by Roy Reiman. Hexagon's chairman and CEO is Scott Reiman, the son of Roy and Bobbi Reiman.
So the acquisition of the Greendale property by Hexagon brings it full-circle, back into control of the Reiman family.
"There's still a lot of affinity (from the Reiman family) for that building and property," said Mike Hipp, president and secretary of Hexagon.
Hexagon sees the property as an investment opportunity, but has no specific plans for it yet, Hipp said.
Goodwill announced plans to sell the campus
last year and move its headquarters to the James O. Wright Center for Work & Training at 6055 N. 91st St. in Milwaukee. The organization also said it would distribute its team across its locations in Milwaukee, Waukesha and Racine counties. Goodwill late last year leased a 15,151-square-foot office space
at the Summit Place complex in West Allis to house Goodwill TalentBridge, the organization’s staffing and recruitment firm; its employment services, supported employment, the Clubhouse Day Services, and Community Access programs, which all serve individuals with disabilities and those experiencing barriers to work; and Goodwill’s development department.