Capital First Trust Co. is trading one office space in Milwaukee’s Walker’s Point neighborhood for another as the firm plans to double its physical footprint.
Capital First, currently located at 234 W. Florida St., has leased the entire fifth floor of the
Timbers Building at 700 W. Virginia St. within
The Tannery office park. The company’s new space is 22,178 square feet, twice the size of its space on Florida Street.
Capital First is a chartered trust company that provides fiduciary services and personal trust administration.
“We are growing and require a high-quality office space that is fit for our future,” said
Levi Dax, marketing officer for Capital Trust. “Our investment in an updated and larger office space in the desirable Walker’s Point neighborhood will improve team collaboration, boost productivity and positively impact employee morale and company culture.”
The six-building Tannery office park complex, which is listed by
Founders 3, was sold to an affiliate of Chicago-based development firm
R2 Companies in 2018
for $25.4 million. The company had originally planned to turn the building into a “creative office campus.”
Since then, the office park has seen numerous renovations including refreshed common areas, renovated onsite common conference centers, a new indoor bike storage area, a fitness center with locker rooms and showers, and a tenant lounge. Tenants can also dine at Richard’s Café, which is located on the second floor of the Timbers Building.
Capital First will occupy about 20% of the Timbers building, which is now over 85% occupied. Bullmoose Financial, Interim Healthcare, Bloom Art Therapies, and Universal Services of America LP have also signed leases at the Timbers building within the last six months.
There is also a 10,000-square-foot, move-in ready spec suite that was recently completed in the adjacent Atlas Building. There has been substantial interest in the suite, according to John Davis with Founders 3.
“One of the biggest trends we’ll continue to see this year is the flight to quality office space that is prevalent in Milwaukee and metropolitan cities across the country,” said Matt Hunter, executive vice president at JLL. “Our team has been hard at work helping tenants like Capital First Trust Company upgrade their corporate offices to provide best-in-class amenities and updated common areas to enhance the employee experience. Landlords can get ahead of this trend by proactively reinvesting in their properties, so they continue to have the most success leasing in today’s marketplace.”
Commercial real estate agency
JLL represented Capital First in the lease agreement.
