The Herrick Company

What The Herrick Company does

The Herrick Company, Inc. is a privately held, family-controlled investment firm founded in 1982 and headquartered in Boca Raton, Florida, with additional offices in Cedar Knolls, New Jersey and Norwalk, Connecticut. Its core business is the acquisition and ownership of single-tenant, long-term triple-net leased office, industrial, retail, and healthcare properties occupied by investment-grade ("credit") tenants throughout the United States, plus holdings of undeveloped oceanfront and intercoastal land in Southeast Florida. The firm differentiates itself through the ability to deploy internal equity and close transactions quickly without external financing delays, and reports cumulative transaction volume in excess of $6 billion across more than 40 years of operation, with a 2022 acquisition of a 421,481-square-foot Huntington National Bank headquarters building in Detroit for $150 million as a recent anchor transaction.

Beyond its net-lease real estate core, The Herrick Company operates a diversified investment portfolio across multiple verticals. Through Herrick Entertainment, LLC, a wholly owned subsidiary, it finances and produces film, television, and Broadway productions including Lone Survivor and the Tony Award-winning shows Waitress, Pippin, and Hair; the firm's principals have also raced Kentucky Derby and Belmont Stakes-winning thoroughbreds (Animal Kingdom, Tapwrit, Destin) in partnership with Eclipse Thoroughbred Partners and Twin Creeks Racing Stables. Green energy exposure is held via PowerMinn 9090, LLC, a Herrick family-controlled affiliate that owns the 55-megawatt Fibrominn poultry-litter biomass power plant in Benson, Minnesota under a 21-year Power Purchase Agreement with Northern States Power. Additional holdings include a Leroy Neiman fine art collection and a 3,000+ title rare film/television archive donated to the University of Miami's Norton Herrick Center for Motion Picture Studies. Operating with 1–10 employees, the firm functions as a lean family office executing episodic, large-ticket investments across real estate and adjacent lifestyle, cultural, and energy assets.

Name

The Herrick Company

Legal name

The Herrick Company, Inc.

Website

https://theherrickcompany.com

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

1–10 employees

Short description

The Herrick Company is a privately held, family-controlled investment firm that acquires single-tenant, long-term net-lease commercial real estate leased to investment-grade tenants, and also invests in green energy, film and Broadway production, thoroughbred racing, fine art, and health sciences.

Ownership category

akta.pro rank

Product category

Real Estate Investment

NAICS

Management of Companies and Enterprises (55), Management of Companies and Enterprises (55111)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Rural Residential & Acreage Homesites Brokerage (BPAJADAE)

akta.pro secondary industries

Equipment Financing / Leasing (Venture-backed) (FSANAIAE), Land Brokerage (Raw Land & Development Sites) (FSAEAJAD)

Keywords

• Real estate investment
• Net lease properties
• Film production financing
• Thoroughbred horse racing
• Biomass energy projects

Headquarters

HQ city

Cedar Knolls

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Real Estate Investment: Acquisition and ownership of single-tenant, net lease office, industrial and retail properties throughout the U.S. Generates income through rental payments from creditworthy tenants on long-term leases.
2. Green Energy Investments: Sale-leaseback financing arrangements for renewable energy projects including biomass power plants. Company provides capital through PowerMinn 9090, LLC affiliates for power generation facilities.
3. Entertainment Production: Film, television and theater financing and production through Herrick Entertainment division. Responsible for award-winning film and Broadway productions.
4. Land Development: Development and building of projects from apartments to hospitals/MOBs to power plants. Prime undeveloped oceanfront and intercoastal land sites in Southeast Florida.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

The Herrick Company is a privately held investment firm that acquires and owns single-tenant, long-term net leased office, industrial, and retail properties throughout the U.S., as well as prime undeveloped oceanfront land in Southeast Florida. Beyond real estate, it operates in green energy (biomass power), film and theatrical production financing through Herrick Entertainment, fine art (Leroy Neiman collection), thoroughbred horse racing, and health sciences investments.

Product overview

The Herrick Company is an investment firm operating multiple distinct business segments across real estate, health sciences, thoroughbred racing, fine art, entertainment, and green energy projects. The company focuses on high-quality single-tenant net lease properties in key U.S. markets and operates Herrick Entertainment for film and theatrical production. The portfolio spans from $150 million real estate acquisitions to award-winning film productions and horse racing ventures.

Differentiator

Problem solved

Functional benefit

Brands

• Herrick Entertainment: Film, television and theater financing and production division responsible for projects including Lone Survivor, Waitress, Pippin and Hair.

Products and services

• Real Estate Investment Services Acquisition and ownership of single-tenant, long-term net leased office, industrial, and retail properties throughout the U.S., plus prime undeveloped oceanfront and intercoastal land sites in Southeast Florida. Includes absolute net lease, residential, commercial, and land investment segments.
• Health Sciences Investment Investment activities in the health sciences sector, including hospitals and medical office buildings (MOBs).

Quantifiable outcome

• 421,481 square foot single-tenant property acquired in competitive marketplace

Named customers4 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Eclipse Thoroughbred PartnerscoreStrategic or Co-development Partner · 4 May 2017Partner with Norton Herrick in thoroughbred horse racing ventures including Destin (Kentucky Derby) and Tapwrit (Belmont Stakes winner).
• Twin Creeks Racing StablescoreStrategic or Co-development Partner · 4 May 2017Racing partnership managing thoroughbred horses including Destin, partnered with Norton Herrick for Kentucky Derby contender.
• PowerMinn 9090, LLCcoreStrategic or Co-development Partner · 14 December 2004Herrick family controlled affiliate that purchased capital plant from Fibrominn LLC through sale-leaseback arrangement for 55 megawatt poultry-litter biomass power plant in Benson, Minnesota. Financing structured as investment grade vehicle rated BBB-/BB.
• Fibrominn LLCcoreStrategic or Co-development Partner · 14 December 2004Subsidiary of Homeland Renewable Energy LLC developing first large-scale poultry-litter power plant in USA. PowerMinn 9090 purchased and leased back the capital plant under long-term lease.
• Homeland Renewable Energy LLCcoreStrategic or Co-development Partner · 14 December 2004Renewable energy development company pioneering poultry litter biomass power plants in the United States using Fibrowatt technology licensed from UK.
• SNC-LavalinminorImplementation/ SI/ Consulting PartnerTurnkey contractor for Fibrominn power plant construction and commissioning (approximately 30 months).

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• EPR Properties: Net lease REIT that owns single-tenant experiential and service properties under long-term triple-net leases. Comparable long-duration, single-tenant net lease structure though oriented toward experiential tenants rather than office/industrial.
• W. P. Carey Inc. Public net lease REIT that acquires and owns single-tenant commercial properties leased to credit tenants on long-term triple-net leases. Directly comparable business model to The Herrick Company's core real estate investment strategy, though at materially greater scale and with public-market funding.
• National Retail Properties: Net lease REIT specializing in single-tenant retail properties (e.g., Home Depot-type tenants) leased on long-term bases. Highly comparable to Herrick's 103,880 sq. ft. Home Depot lease in West Mifflin, PA.
• STORE Capital: Was a public net lease REIT (taken private by GIC/Oak Street in 2023) that acquired single-tenant commercial real estate leased to credit tenants. Closely mirrors Herrick's strategy of long-duration net lease income properties with internal acquisition capability.
• Spirit Realty Capital: Was a publicly traded net lease REIT focused on single-tenant retail and other properties under triple-net leases (acquired by Realty Income in 2024). Directly comparable to Herrick's single-tenant retail and office focus.
• Realty Income Corporation: Largest U.S. net lease REIT, focused on single-tenant commercial properties under long-term triple-net leases with investment-grade and creditworthy tenants. Closest large-cap analog to Herrick's focus on credit-tenant office, industrial and retail net lease assets.
• Gladstone Commercial Corporation: Net lease REIT that acquires and owns single-tenant and multi-tenant industrial, office and retail properties on triple-net leases. Directly comparable single-tenant net lease strategy targeting creditworthy tenants.
• Four Corners Property Trust: Net lease REIT focused on single-tenant restaurant properties under triple-net leases with credit tenants. Closely mirrors the Herrick approach of long-duration, low-management-intensive single-tenant real estate.
• Getty Realty Corp. Net lease REIT that owns single-tenant convenience, automotive and restaurant properties leased to credit tenants under long-term triple-net leases. Comparable single-tenant, long-duration, credit-tenant net lease model.

Broad incumbents

• Brookfield Asset Management: Large alternative asset manager with significant real estate and renewable energy investment platforms. Comparable diversified investment scope across real estate and energy, though at vastly greater scale and as a broad incumbent rather than a niche operator.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/the-herrick-company-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Herrick Company