Madison-based SARA Investment Real Estate has acquired the Klement’s Sausage Co. Inc. plant and outlet store at 2650 S. Chase Ave. in Milwaukee for $12.2 million, according to state records.
Milwaukee-based Klement’s was the seller in a sale-leaseback deal. Christina Podoll Ballweg, executive vice president of SARA Investment, said Klement’s signed a long-term lease.
Lori Wester, vice president of marketing with Klement’s, said the company is excited about what the sale-leaseback means for the company.
“The arrangement is more beneficial to us because it allows our teams to focus on what we do best, which is making the best-tasting sausage in Wisconsin and outside Wisconsin,” she said.
Wester said the revenue generated from the sale will help Klement’s further its goal of growing its brand and expanding its distribution.
The sale comes after Klement’s made $7.5 million in upgrades to the facility a few years back.
The project added 5,000 square feet on the north end of the plant and renovated 50,000 existing square feet. It improved production operations and expanded capacity.
It also follows SARA Investment’s acquisition of the Poblocki Sign Co. LLC building in West Allis this spring. The firm acquired that property, located to 922 S. 70th St., for $7.5 million, according to state records.
Ballweg said SARA Investment will continue looking for industrial assets to acquire in the Milwaukee market.
“We’ve been active, and being from Wisconsin, have an understanding and are quite bullish on the industrial market,” she said.
Andy Hess, Bob Flood and Kemp Collings of Founders 3 represented Klement’s in the deal.
