Harken Inc. sold its Pewaukee headquarters to HRKN LLC, a real estate investment group that is not affiliated with the company, for $15 million and entered into a long-term leaseback of the property.
The 170,000-square-foot industrial facility, located at N15 W24983 Bluemound Road, was constructed in 2012 for Harken’s use and includes 30,000 square feet of offices on its second floor.
Peter Harken, co-owner and founder of the marine hardware and accessories manufacturer, said the transaction will help accelerate the growth of the company. For instance, the proceeds of the sale may go toward strategic acquisitions in the marine and industrial markets.
David Buckley and Jim Barry of Milwaukee-based The Barry Co. brokered the transaction. Buckley said the sale-leaseback deal is “indicative of the strength of the industrial and investment markets in southeast Wisconsin.”
Seller: Harken Inc.
Buyer: HRKN LLC
Price: $15 million