Harken sells City of Pewaukee HQ to private investor for $15M
Will lease back building while focusing on accelerating growth

By KATHERINE MICHALETS

June 23, 2018

Harken, Inc. co-owner and founder Peter Harken talks about his company in this file photo.
File photo

CITY OF PEWAUKEE — Harken, Inc. has sold its City of Pewaukee headquarters to a private real estate investment group, which founder Peter Harken says will help the manufacturer “accelerate” its growth.

According to the Friday announcement, Harken entered into a long-term leaseback of its headquarters at N15-W24983 Bluemound Road to HRKN LLC., which 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.

“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, WI. 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 in a statement.

Harken, Inc. is a manufacturer and marketer of quality marine hardware and accessories that dominate such events as the America’s Cup and Olympics.

Harken, Inc. has sold its City of Pewaukee headquarters, N15-W24983 Bluemound Road, to a private real estate investment group, but which it will lease.
Brandon Anderegg/Conley Media

According to Friday’s announcement, Harken has invested in “new markets outside of the marine industry to chart a strong growth trajectory for the future in the safety and rescue markets.”

Manufacturing for Harken is done in the United States and Italy, and it has 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.”

Harken, Inc. CEO Bill Goggins was not in the office Friday to comment on plans for the company’s growth.