California-based tool and equipment retailer
Harbor Freight is planning to open a new Milwaukee-area location, in the former Sears Outlet store building in Germantown, and anticipates a November opening.
An affiliate of Las Vegas-area development and investment firm
Rhino Investments Group recently purchased the vacant building, at N96 W18650 County Line Road, for about $2 million, according to state records.
Michael Sanchez, chief operating officer of Rhino, said his firm had lease terms finalized with a national retail tenant to occupy the building. He declined to name the tenant.
However, Harbor Tools was identified as the tenant on the website of
Ignite Funding, a non-depository credit institution. The website post states Harbor Freight was to sign a lease shortly after property acquisition, and that Rhino will begin renovation work the tenant has requested. Harbor Freight anticipates opening the Germantown store in November, it says.
The building totals 21,000 square feet, according to the website post.
Sanchez said Rhino is acquiring more retail properties in both Wisconsin and neighboring states for the same retailer. He did not specify which communities those properties are located in.
Representatives of Harbor Freight were not immediately available for comment.
Steve Kreklow, Germantown village administrator, said earlier this week the village had not yet been in contact with the building's new owners.
According to its
website, Harbor Freight is expanding nationwide. It is "currently considering hundreds of new locations across the U.S." It is seeking spaces totaling around 15,000 square feet that are visible to the street, among other criteria.
It currently has five locations in southeastern Wisconsin, including in Racine, Sheboygan, St. Francis, Waukesha and West Allis.
