Featured Deal: Future American Family Milwaukee office

Future American Family Milwaukee office
Future American Family Milwaukee office

Madison-based American Family Insurance Group is making plans to open a new Milwaukee office, which will bring 400 jobs to a growing part of downtown.

American Family recently announced it has chosen to locate the new office in the 110-year-old former Mandel printing building near the northwest corner of West McKinley Avenue and North Dr. Martin Luther King Jr. Drive. The building and a nearby parking lot were acquired in December by a joint venture of the company and MB Acquisition LLC, the building’s previous owner.

American Family will lease the building, with an option to purchase after 10 years, and will pay for its renovation and expansion. Work will commence about six months after a project architect is hired, and is expected to take two to three years.

Address: 1311-1325 N. Martin Luther King Jr. Drive (building) and 1402 N. Vel R. Phillips Drive (parking lot)
Buyer: Milwaukee AMBROZ LLC
Seller: MB Acquisition LLC
Price: $9.6 million

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Alex Zank, former BizTimes Milwaukee reporter.

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