Reiman Publications’ former Greendale headquarters, which most recently housed Goodwill’s Milwaukee-area operations, has a new owner: a Reiman family investment group.
The 164,800 square foot building, which sits on 14.5 acres at 5400 S. 60th St., was sold by Goodwill Industries of Southeastern Wisconsin Inc. to Future1 LLC, a Pewaukee investment group, for $8.2 millions of dollars.
This is according to the recently released online state real estate records.
Future1 is a subsidiary of Hexagon Inc., a private investment firm founded by Scott Reiman.
Hexagon does not yet have any specific plans for ownership, said Mike Hipp, president of the company.
Hipp said the Reiman family’s former involvement with the site was a factor in the decision to purchase the property.
Scott Reiman’s father, Roy Reiman, ran Reiman Publications for decades, which produced magazines such as Taste of Home, Reminisce and Farm & Ranch Living.
“There’s obviously a lot of history and affinity to this facility and this property,” Hipp told the Journal Sentinel.
Roy Reiman and his wife, Bobbi, still own a home near the company’s former headquarters, Hipp said.
Roy Reiman founded Reiman Publications in 1965 and moved it to the Greendale site in the 1970s, purchasing a former nuclear energy research facility from Allis-Chalmers Corp.
Reiman Publications eventually became the largest subscription publishing house in the United States with over 16 million paying subscribers – and no advertising.
The company’s headquarters in Greendale, which Reiman expanded, included a test kitchen for Taste of Home, perhaps the company’s best-known magazine.
And Roy Reiman’s investments included the purchase and renovation of several older commercial buildings on Broad Street in Greendale.
These properties included the Reiman Publications Visitors Center, which drew busloads of tourist fans of Taste of Home and other magazines, and a Taste of Home restaurant.
Reader’s Digest Association Inc. purchased Reiman Publications in 2002.
An affiliate company, RDA Enthusiast Brands, moved the magazine’s operations in 2014 to Milwaukee’s Schlitz Park office park.
Goodwill in 2013 revealed plans to purchase the Greendale building and consolidate operations from far northwest Milwaukee and a site near Mitchell International Airport.
The non-profit group in 2021 began to leave the Greendale site.
Some of Greendale’s operations were transferred to the James O. Wright Center for Work and Training at Goodwill, 6055 N. 91st St., Milwaukee.
Additionally, Goodwill’s offices moved in March to the Summit Place complex, 6737 W. Washington St., West Allis.