Hellenbrand
Industrial | 6.50% CAP | 35,460 SqFt
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase Hellenbrand, an industrial investment property located at 404 Moravian Valley Road in Waunakee, Wisconsin (the “Property”). Hellenbrand has over 9 years remaining on their original 16-year lease with one (1) 10-year renewal option. The lease includes attractive 2.5% rental increases every year throughout the initial term and renewal option periods.
Hellenbrand is located along Moravian Valley Road in Waunakee, Wisconsin, offering strong visibility and convenient access within one of Dane County’s most affluent and fastest-growing communities. The Property is situated near the signalized intersection with Main Street, the Village’s primary commercial corridor, and is positioned in close proximity to Waunakee’s established retail, service, and dining offerings. Surrounded by dense and expanding residential neighborhoods, the site benefits from a built-in customer base and consistent local traffic. The Property provides efficient access to U.S. Highway 19 and is minutes from U.S. Highway 113, with Interstate 90/94 located approximately 6 miles to the south, allowing for direct connectivity to Madison and the broader regional market.
Investment highlights
LEASE TERM: Hellenbrand has been at this location since 2019 and just signed a 10-year extension in March 2025.
ATTRACTIVE RENT INCREASES: The Lease calls for 2.5% rental increases every year throughout the initial lease term and renewal option periods, providing an attractive increase in revenue and a hedge against inflation.
MINIMAL LANDLORD RESPONSIBILITIES: Hellenbrand reimburses for real estate taxes, insurance, and common area maintenance directly, protecting against rising expense costs. The Double-Net lease structure leaves the Landlord responsible for the building’s roof & structure.
STRATEGIC LOCATION: Hellenbrand is strategically located along Moravian Valley Road near the intersection with Main Street, Waunakee’s primary commercial corridor. Positioned within the Village of Waunakee, the Property is easily accessible from surrounding residential neighborhoods as well as nearby communities throughout Dane County. Madison, located approximately 8 miles to the south, is the state capital and the region’s largest employment center, with a population exceeding 280,000, providing a strong and diverse customer base. Additionally, the Property benefits from proximity to major regional employers, healthcare facilities, and retail destinations throughout the Madison metropolitan area, further enhancing its long-term demand and visibility.
STRONG OPERATOR: Hellenbrand, founded in 1967 and now part of Franklin Electric’s Franklin Water Treatment platform, is a leading manufacturer and distributor of residential and commercial water treatment systems, with a longstanding headquarters presence at 404 Moravian Valley Road. In 2021, the Hellenbrand brand was acquired by Franklin Water Treatment, a subsidiary of Franklin Electric, a global water and energy systems company with multibilliondollar annual sales and diversified customer base. The Waunakee facility serves as a key operations hub and branded water center for Hellenbrand & Aqua Systems, underscoring the strategic importance of this address within the broader Franklin Water Treatment network.
WAUNAKEE BUSINESS PARK: Located in the established Waunakee Business Center / Business Park, a four-building, ±156,000 SF flex and industrial cluster just 10 minutes north of Madison, drawing on Dane County’s deep labor pool and diverse economic base. Adjacent and nearby occupiers include manufacturing, distribution, and service firms such as Uniek Inc. and other regional employers, creating a stable business ecosystem and daytime population. Within a short drive of Highway 19 and central Waunakee amenities, including dining, shopping, and lodging options that support employee attraction and retention.
TRAFFIC COUNTS: Over 2,400 vehicles pass the Property daily along Moravian Valley Road and more than 15,700 vehicles pass through the nearby signalized intersection of State Highway 19 (WI-19) and Schumacher Road.
DEMOGRAPHICS: More than 19,100 people live within 3-miles of the Property with an average household income of $177,959. More than 38,100 people live within 5-miles of the Property with an average household income of $123,075.
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