Foxconn Technology Group will purchase the 611 Building in downtown Milwaukee from Northwestern Mutual Life Insurance Co. this year for its Wisconsin headquarters.
The 54-year-old office building has a capacity of up to 650 people, which will be a combination of Foxconn employees and outside partners, including venture capitalists and startup firms, said Alan Yeung, director of U.S. strategic initiatives at Foxconn.
Dubbed “Foxconn Place,” it will serve as the office space component of the company’s plans to build an LCD panel manufacturing facility in Mount Pleasant.
The building will also be home to the newly-established Wisconn Valley Innovation Center, a hub for the 8K+5G ecosystem Foxconn is creating in Wisconsin.
Address: 617 E. Wisconsin Ave., Milwaukee
Buyer: Foxconn Technology Group
Seller: Northwestern Mutual Life Insurance Co.
Closing date: TBD 2018
Sale price: Not disclosed. Building assessed at $11.5 million
