Deals of the Week

Extendicare extends downtown lease, grocery store planned near downtown

Extendicare extends downtown lease
Extendicare Health Services Inc. is extending the lease of 150,000 square feet of office space at 111 W. Michigan St. in downtown Milwaukee for its corporate headquarters through 2019. The building is owned by Milwaukee-based Towne Investments, which is the trade name under which Milwaukee-based Zilber Ltd.

markets its commercial investment portfolio.

"We are priviledged to have such a great corporate citizen as our tenant and appreciate their long-standing commitment to downtown Milwaukee," said John Kersey, executive vice president of Zilber Ltd.

Extendicare has more than 475 employees in its headquarters.

"Extendicare has been a loyal corporate entity and I am proud they have made the decision to stay in downtown Milwaukee," said Milwaukee Mayor Tom Barrett. "One of the single most important issues facing our city is the retention, attraction and expansion of employment opportunities in the Milwaukee area. We need family-supporting jobs for our residents and a workforce prepared to compete in an ever-changing global economy if we are to continue to be successful in building our competitive advantage as a region. I am thankful Extendicare has agree to help us in that effort."

Extendicare operates 264 senior care centers throughout the U.S. and Canada.

"Milwaukee has been a central location for our business for over 25 years and has proven to be a vital part of our growth and development," said Tim Lukenda, president and CEO of Extendicare Inc. "We are committed to not only those we serve, but to the communities in which we live, work and play and are thankful to have the opportunity to support this community. We also appreciate the relationship we have with Towne Investments and are pleased to have reached an agreement on a lease extension."

Grocery store planned near downtown

John and Anne Nehring, the owners of a Sendik’s grocery store in Shorewood and the Groppi’s Market in Milwaukee’s Bay View neighborhood, will open a grocery store in a 15,000-square-foot space in three buildings that previously housed the Habhegger Clutch Shop at the intersection of Brady and Water streets near downtown Milwaukee. The Nehrings are leasing the space from Milwaukee-based New Land Enterprises LLP.

Jon Thoresen and Brian Gingrass of Commercial Property Associates represented both parties in brokering the lease.

“We have been looking for the right location in this area of the city for quite some time,” Anne Nehring said. “This site not only offers abundant parking, but it also allows us to rehab several older buildings that we believe are consistent with our identity – offering a full service grocery market that fits in with Milwaukee’s traditional neighborhoods.”

The store will be called Nehring’s Family Market and is expected to open in early 2010. In addition to groceries, a full service deli, bakery, liquor department, flower shop, as well as a catering operation is planned. 

The site is near downtown, the east side, Brewers’ Hill and the Riverwest neighborhood. The site will offer have access to the city’s riverwalk system.

“The decision of the Nehrings to open in our location re-emphasizes the success of the new housing that New Land Enterprises and other developers have built along the Milwaukee River and downtown,” said New Land founding partner Boris Gokhman. “With the addition of Nehring’s Family Market, our shared vision of a dense, mixed-use neighborhood that stretches along Water Street from Brady Street, through downtown and into the 3rd Ward is beginning to take shape.”

“In addition to benefitting from Brady Street’s success, we are banking on the future residential growth of the Park East corridor and additional housing throughout the neighborhoods that we plan to serve," Anne Nehring said. “We feel like we are getting in on the ground floor of something great.”

Sign up for BizTimes Daily Alerts

Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

No posts to display