Last updated on May 15th, 2019 at 04:50 pm
Jacksonville-based FIS has leased 124,500 square feet of office space in the Parkland Center building, an office building located at 11200 W. Parkland Ave. on the far northwest side of Milwaukee.
FIS, which acquired Brown Deer-based Metavante Technologies Inc. in 2009, is one of the world’s largest providers of banking and payment technologies and has offices in numerous locations in the Milwaukee area including the Woodland Prime office park in Menomonee Falls, on Brown Deer Road in Brown Deer, on Howell Avenue in Oak Creek and on Ryerson Road in New Berlin.
The Parkland Center building is located near an FIS data center that is located at 11000 W. Lake Park Drive in Milwaukee.
The space FIS is leasing at Parkland Center was previously occupied by Molina Healthcare of Wisconsin Inc.
The three-story, 245,266-square-foot building was built in 1990. It underwent extensive renovations in late 2016, which included an updated lobby, a new fitness center and a new cafeteria operated by Davian’s.
The addition of FIS will bring the building’s occupancy rate to 67 percent, according to a press release from Milwaukee-based Founders 3 Real Estate Services. In brokering the lease, Ned Purtell and Patti Stevens of Founders 3 represented the landlord. FIS was represented by Erik Ozolins of Orion Realty Group and Kate Hanson of Founders 3. Ozolins and Hanson could not immediately be reached to comment on the deal. A spokesperson for FIS also could not immediately be reached.
The building, formerly entirely occupied by Wells Fargo Home Mortgage, was sold in 2013 to Los Angeles-based Griffin Capital Essential Asset REIT for $26 million. Wells Fargo shut down its operations, a home lending service facility, in the building in 2015. The building now has an assessed value of $23 million, according to city records.
Global Industrial is also a tenant in the Parkland Center building. Other potential tenants are expected to be announced by the end of the year, according to the Founders 3 press release.