When Milwaukee city officials chose a five-story mixed-use development proposed by Deerfield, Ill.-based Legacy Real Estate Partners for city-owned land in the Park East corridor, they passed on some larger proposed developments for the site.
The city chose Legacy’s project for the 10,200-square-foot parcel at the intersection of Jefferson, Pleasant and Water streets.
The property is at the far northeast end of the Park East freeway corridor, and city officials want the development on the site to serve as a gateway to the corridor.
Legacy plans to build a five-story building on the city-owned site with 33 condominiums, priced between $169,900 and $279,900, on the upper levels and 34 parking spaces on the lower two levels. The project also includes 2,700 square feet of retail space on the first floor at the corner of Water and Jefferson streets.
Legacy will pay $230,800 to purchase the site from the city.
"It’s a very comfortable project, skillfully designed," said Robert Greenstreet, city planner. "I like the way it creates a glass element directly toward the corner. It creates a gateway to the (Park East corridor) development."
Legacy was one of six developers that submitted projects in response to a request for proposals issued by the city.
Some of the developers whose projects were not chosen wanted to build taller buildings on the site with more residential units and more commercial space.
A group led by Chicago-based RSC & Associates proposed an eight-story building with 46 condominiums and 8,600 square feet of first floor retail space.
A group led by Mequon-based Milestone Development Group proposed an eight-story building with 41 condominiums and almost 30,000 square feet of commercial space on two floors.
A group led by Milwaukee-based Katz Project Development wanted to build a swooping building that arched from eight stories at the intersection of Water and Jefferson streets to three stories on the southern edge of the site. The first floor would have had 2,125 square feet of restaurant space, and the second floor would have had 1,200 square feet of office and retail space. The rest of the building would have had flex space that could have been used for offices or condos.
The other two proposals were for smaller buildings. Milwaukee-based Stack Development proposed a four-story building with about 3,000 square feet of retail space, additional commercial space and 10 condos. A proposal by Milwaukee-based Central Investment Co. called for four $1.25 million brownstone town homes.
Greenstreet didn’t have anything negative to say about any of the rejected proposals.
"I don’t want to talk badly about the other projects," he said. "There were a number of very good submissions. It was very gratifying to see the level of interest."
Although most of the existing buildings near the site are two stories tall, Greenstreet said an eight story building "could work" there.
"(The height) wasn’t a deal-breaker," he said.
A larger building could have brought more residents and workers to the property.
However, the Legacy project was chosen because it had the best combination of a quality design, a proven development team and a viable project based on the current downtown real estate market, Greenstreet said.
Since this is the first project selected for land owned by the city or county in the Park East freeway corridor, city officials wanted to choose a quality development that will succeed and stimulate confidence and interest in developing the corridor, Greenstreet said.
"This being the first project in the Park East, we wanted a high degree of certainty that this would be a successful (project)," he said. "We want a solid start."
Godfrey & Kahn narrows office space options
Milwaukee law firm Godfrey & Kahn, which is considering a move from the downtown Marshall & Ilsley Bank building at 780 N. Water St., will move to one of two proposed downtown office buildings or stay put, said managing partner Richard Bliss. The two buildings the firm may move to are the mixed use building being planned by U.S. Bancorp next to the 42-story U.S. Bank Center at 777 E. Wisconsin Ave. or Ovation Plaza, a high-rise proposed by Wauwatosa-based Irgens Development Partners LLC for the northwest corner of Water and State streets. Godfrey & Kahn is seeking about 80,000 square feet of space. The law firm will make a decision about its future office location in about 30 to 45 days, Bliss said.
Community Bank & Trust adding branches
Sheboygan-based Community Bank & Trust is building its 10th branch office at 1160 Fond du Lac Ave., Sheboygan Falls. The 9,700-square-foot two-story building will include the bank’s offices, a training center and a community room. The Sheboygan Falls office will open in late summer.
In addition, Community Bank & Trust plans to open a branch in Greenfield by March 1, 2006. The bank would be a tenant in a three-story, 50,000-square-foot building that Loomis Investments LLC plans to build at 4121-31 W. Loomis Road. The upper two stories of the building would be used for medical office space. The bank’s only other branch in the Milwaukee area is in Glendale.
"Those two locations will pretty much take care of most of our customers in the Milwaukee area," said Anthony Jovanovich, chairman and chief executive officer for Community Bank & Trust.
The bank provides SBA loans to several customers in the Milwaukee area, he said. The bank also has four locations in Sheboygan, and one location each in Plymouth, Elkhart Lake, Appleton and Chilton. The Sheboygan Falls and Greenfield branches will complete the bank’s branch expansion plans for the next three years, Jovanovich said. The bank plans to hire eight employees for the Sheboygan Falls branch and 10 employees for the Greenfield branch.
Pleasant Prairie
Milwaukee-based Wispark LLC and Oak Brook, Ill.-based CenterPoint Properties Trust plan to build a 300,000-square-foot distribution and manufacturing building on speculation in the LakeView Corporate Park. The building will have 24 exterior dock doors and four drive-in doors. Kenosha-based Riley Construction Company Inc. received the contract to build the facility.
Brookfield
National Graphics Inc. plans to move from 4065 N. Calhoun Road to a yet-to-be-determined location if city officials approve Wauwatosa-based Commonwealth Partners Ltd.’s plans to redevelop the site. National Graphics occupies a former elementary school building on a seven acre site north of Capitol Drive. Commonwealth Partners plans to demolish the building and construct a two-story, 38,000-square-foot commercial building and two residential condominium buildings. The property sits atop the sub-continental divide, and on a clear day, the tenants in the second floor of the commercial building will have a view of the downtown Milwaukee skyline, said William Patch, president of Commonwealth Partners. The commercial building could be occupied by a mixture of office, retail and restaurant tenants. The condo buildings will have 50 units, most with two bedrooms, priced at about $400,000. National Graphics Inc., which owns the property, creates three-dimensional images and has 14 employees, company vice president Debbie Krause said.
Wauwatosa Savings Bank plans to spend $2 million to renovate the 20,000-square-foot former Lifestyles Furniture building at 21505 E. Moreland Blvd., in the Town of Brookfield, converting it into a bank branch. The bank will replace the Wauwatosa Savings Bank office at 1710 Paramount Drive and the mortgage office at 1717 Paramount Drive in Waukesha. The bank held a groundbreaking ceremony for the project last week. Wauwatosa Savings Bank also has locations in Wauwatosa, Oak Creek, Oconomowoc and Pewaukee.
Glendale
Almo Corp., a Philadelphia-based appliance and electronics distributor, is moving its Wisconsin distribution facility from 6600 N. Industrial Road, Milwaukee, to a larger facility at 4200 N. Port Washington Road, Glendale. The new facility has about 97,200 square feet. "They are getting more space, and it’s a better location right off the freeway," said Sam Dickman Jr., vice president of The Dickman Company Inc., which represented HSA Glendale Wisconsin LLC, the landlord for Almo’s new location. Jim Young, a broker with Colliers Barry, represented Almo.
One Price Dry Cleaning plans to occupy 1,142 square feet of space in a multi-tenant retail center at 6254 N. Port Washington Road.
Greenfield
Progressive Casualty Insurance plans to build a 15,000-square-foot building with 5,000 square feet of office space and a 10,000-square-foot vehicle inspection area on a vacant site at South 103rd Street and Oklahoma Avenue.
Manjeet Sidhu plans to demolish the Amoco gas station at 4405 W. Loomis Road and replace it with a new 3,800-square-foot BP gas station with a car wash. He also plans to build a 5,000-square-foot food, liquor and convenience store on a vacant lot south of the gas station.
Crawford Animal Hospital plans to move from 3193 S. 108th St. in West Allis to a new 7,500-square-foot building that will be constructed at the southwest corner of South 108th Street and West Armour Avenue. The property is a vacant site that once had a gas station that has since been demolished.
Michael Kihlmire plans to open a Hawg City Brats restaurant in a strip mall at 3833 S. 108th St., filling a tenant space formerly occupied by Ozzie’s Deli.
James Wendt plans to open Wendt’s Pub and Grill in the former Mineo’s Touch of Sicily building at 6031 W. Layton Ave.
Kenosha
Green Bay-based Direct Development wants to build seven buildings on a three-acre site between the Kenosha Public Museum and Southport Marina in downtown Kenosha. The vacant property is owned by the city and lies within Harbor Park, the redeveloped area along Lake Michigan that was once an industrial site and now has hundreds of new condominiums and townhouses. The city issued an RFP for the site, and city staff selected Direct Development’s plans. The project still must be approved by the Common Council. Direct Development wants to build seven buildings on the site with 90 residential units and about 50,000 square feet of commercial space, a combination of 37,400 square feet of retail and restaurant space and 12,740 square feet of office space. Some residents have objected to plans for commercial development on the green space, but the city’s Harbor Park master plan has long called for commercial development on the property, said assistant city planner Jeff Labahn.
Minneapolis-based Buffalo Wild Wings Grill & Bar plans to open a restaurant at 7127 120th Ave., on an outlot near Woodman’s grocery store. The restaurant will occupy about 5,400 square feet of space in a 9,000-square-foot multi-tenant building that The Endeavor Group, a Milwaukee developer, plans to build.
Sheboygan
The 74,700-square-foot Northgate Shopping Center, was sold recently by Milwaukee-based Development 3000 LLC to Oak Brook, Ill.-based Inland Real Estate Acquisitions Inc. for $9.7 million. Mid-America Investment Group represented the seller in the sale negotiations. The shopping center is located at the southeast corner of 15th Street and Mayflower Avenue on Sheboygan’s north side.
Sussex
Developer Scott Lewandowski plans to build three retail buildings, each with about 10,000 square feet of space, on a vacant site at the northeast corner of Highway K and Highway 164. Each building will have about six retail tenants.
Waukesha
Waukesha-based Venture Development plans to build a 25,200-square-foot multi-tenant industrial building on the north side of Travis Lane, east of West Avenue.
Andrew Weiland is the managing editor for Small Business Times. Send news about commercial real estate to Andrew.weiland@biztimes.com or by calling him at (414) 277-8181 ext. 120. News can also be sent to Andrew Weiland, Small Business Times, 1123 N. Water St., Milwaukee, WI 53202.
Leases
Colliers Barry
Altop Spas has leased 4,000 square feet of industrial space at 11220-80 W. Lincoln Ave., West Allis, from Lincoln Avenue Business Center LLC.
Gerald Nell Inc.
Jomi LLC has leased 20,000 square feet of industrial space at W229 N1687 Westwood Dr., Waukesha, from Sunset Investment Co.
Northwoods Lending LLC has leased 2,800 square feet of office space at 2505 N. Mayfair Road, Wauwatosa, from Sunset Investment Co.
Peak Medical Devices Inc. has leased 1,242 square feet of office space at 2511 N. 124th St., Brookfield, from G & N Investment Company.
Elite Management Inc. has leased 3,200 square feet of industrial space at W140 N5946 Lilly Road, Menomonee Falls, from Bronell Investment Company.
Powers Fasteners has leased 4,800 square feet of industrial space at 12020 W. Feerick St. Unit B, Wauwatosa, from G & N Investment Company.
Smart Mortgage Centers Inc. has leased 2,050 square feet of office space at N16 W24132 Prairie Court, Suite 190, Waukesha, from Prairie Place LLC.
Polacheck Company
Athea Laboratories Inc. has leased 86,500 square feet of space at 6161 N. 64th St., Milwaukee, from Alcan Corporation.
Wesco Distribution Inc. has leased 25,000 square feet of space at 5831 S. Pennsylvania Ave., Cudahy, from Hansen Storage Co.
Corral West Ranchwear Depot has leased 29,000 square feet of space at 5659 S. 27th St., Milwaukee, from Samson Trusts Venture.
Solar Oasis has leased 2,795 square feet at S30 W24896 Sunset Dr., Waukesha, from Sunset Shops LLC.
Regis Corp. d.b.a. Cost Cutters has leased 1,255 square feet of space at Miller Parkway Market Place, Milwaukee, from West Milwaukee Retail LLC.
2nd Wind Exercise Equipment Inc. has leased 5,160 square feet of space at 5550-5740 Washington Ave., Mt. Pleasant, from Inland Southeast Mt. Pleasant LLC.
Supercuts Corporate Shops Inc. has leased 1,269 square feet of space at 15155 W. National Ave., New Berlin, from NB City Center Retail 1 LLC.
Best Rentals Inc. has leased 360 square feet of space at 12660 W. Capitol Dr., Brookfield, from
Priya Corporation.
Baldev and USMA Szchdev have leased 1,576 square feet of space at 700 West Milwaukee Ave. Suite 200, Milwaukee, from Partnership to Develop West Town Inc.
Dr. Jeffrey J. Ligman d.b.a. Alternatives Inpsych Consultation has leased 2,200 square feet of space at 6917 W. Oklahoma Ave., Milwaukee.
Whole Foods Market Group Inc. has leased 53,875 square feet of space at Prospect Avenue and North Avenue from Columbia St. Mary’s Inc.
Julian Escamilla d.b.a. Habanero’s Mexican Restaurante has leased 4,700 square feet of space at 869 N. Mayfair Road, Wauwatosa, from The Promenade, a Wisconsin Limited Partnership.
Fastframe has leased 1,400 square feet of space at 10320 75th St., Kenosha, from Windsor Pointe Investors LLC.
Flanners Audio & Video Inc. has leased 26,400 square feet of space at 16220 W. Bluemound Road, Brookfield, from Barnes & Noble Superstores Inc.
Sales
Colliers Barry
O&P Associates purchased the 4,886-square-foot office building at 10506 W. Bluemound Road, Wauwatosa, from Bruce Seeds.
Rah Rah Investments purchased the 11,480-square-foot office building at 6251 W. Forest Home Ave., Milwaukee, from a tenants-in-common group.
Louis Gral Investment Real Estate Inc.
BR Properties 1 LLC purchased a 42,840 square foot, four-tenant industrial building at 6860-6880 S. 10th St., Oak Creek, from Bituminous Distributors Inc. The sale price was $1.4 million.
Gerald E. Garrett and Ethel M. Garrett have purchased a five-unit office complex at 6410-6416 S. Howell Ave., Oak Creek, for $625,000.00 from Gerald R. Labodda and Audrey Labodda Revocable Trust.
The Polacheck Company
Apple Tree Credit Union, purchased 1.3 acres at 11333 W. Greenfield Ave., West Allis, from Guardian Credit Union.
Heartland Development purchased 1.34 acres at 1535 E. Moreland Blvd., Waukesha, from RMS Properties/Heidner Properties.
Silver Spring Building LLC purchased 2,088 square feet of space at 417 E. Silver Spring Dr., Whitefish Bay, from Anthony & Geraldine Accetta.
Carmax Auto Superstores Inc. purchased 12 acres on West Metro Boulevard in Milwaukee from August Urbanek Development and Management LP.
Assured Properties of WI LLC purchased one acre at 12660 W. Capitol Dr., Brookfield, from Priya Corporation.
WENDT LLC purchased 1.3 acres at 6031 W. Layton Ave., Greenfield, from Loretta Kleczka Revocable Living Trust.
New construction
Creative Constructors LLC, Menomonee Falls, recently completed a $1.1 million expansion of the Retzer Environmental Learning Center and an addition to the Charles Horwitz Planetarium. The nature center and planetarium are located in the Town of Genesee. The project included a new 4,622-square-foot learning center and a 3,620-square-foot addition to the planetarium.
MSI General Corp., Oconomowoc, was selected by Madison-based E.J. Plesko & Associates to design and build a new 20,000-square-foot OfficeMax store at 6515 Grand Teton Plaza, New Berlin. The store will be built between a Sportsman’s Warehouse and a Michael’s store. In addition, MSI General was also chosen to design and build a 1,540-square-foot classroom addition, with a clerestory above it, for the Waukesha Community Seventh Day Adventist Church of New Berlin, at 21380 W. Cleveland Ave., New Berlin.
Wahlgren-Schwenn Inc., Menomonee Falls, recently began construction of a new, 51,285-square-foot headquarters and manufacturing facility for Business Marketers Group Inc. at N56 W24720 N. Corporate Circle, in the Sussex Corporate Center.
KVG Building Corp., Milwaukee, recently held a groundbreaking ceremony and will begin construction next week for the 15,000-square-foot Master Z’s building at the corner of South Sentry Drive and West Sunset Drive in Waukesha.
May 27, 2005, Small Business Times, Milwaukee, WI
