Wauwatosa-based Cities and Villages Mutual Insurance Co., which insures more than 50 Wisconsin municipalities, has acquired the building that sits next door to its offices on Bluemound Road.
According to state records, the company purchased the building at 9800 W. Bluemound Road from Woodbury, Minnesota-based Ojiugo Holding Co. LLC for $1.4 million. The building is directly north of the Milwaukee County Zoo and a block west of the I-41 interchange with Bluemound Road.
The insurance company is located at 9898 W. Bluemound Road.
Ken Horner, chief executive officer of Cities and Villages Mutual Insurance, said his firm does not have immediate plans for the building. However, it could be used to expand the company’s training space and eventually house additional employees once it needs to increase its headcount.
Horner said that Cities and Villages Mutual Insurance currently employs about 32 people. As it adds members it will have to eventually hire more workers, he said, and its current offices can’t accommodate anymore people.
“So, this gives us an opportunity to expand as we grow,” Horner said.
The two buildings are already attached via skywalk. In knowing it may eventually need more space, the company moved to purchase the building once the opportunity arose, he said.
According to a listing on LoopNet, the vacant 21,5000-square-foot building was constructed in 1970. It is assessed at $1.35 million, according to Milwaukee County records.
Cities and Villages Mutual Insurance started up in 1988, and currently serves 52 villages and cities, said Horner. It only serves communities in the state, and does not insure townships. The firm has been located in Wauwatosa for roughly the last 8 years, and before that had its offices in Greenfield.
