Last updated on November 1st, 2022 at 02:48 pm
Banking technology company Fiserv will move its corporate headquarters from Brookfield to downtown Milwaukee, according to an announcement today.
As part of its new headquarters project the company plans to add 250 jobs there over five years. A $40 million investment will be made in the building “contingent upon incentives currently being considered by the Wisconsin Economic Development Corp. and the city of Milwaukee,” according to a news release. According to a source familiar with the deal, those 250 jobs will be new to the region and Fiserv, a Fortune 500 company, will eventually have 780 jobs at its new corporate headquarters in downtown Milwaukee.
“Our new world headquarters location will be a dynamic hub of collaboration and innovation, bringing our people together in an inspiring workplace to create opportunity for energizing and career growth experiences, as we lead the industry forward on behalf of our clients,” said Frank Bisignano, president, chairman and chief executive officer of Fiserv. “We look forward to being a force for good, as we create positive and meaningful impact and grow our presence in the increasingly vibrant downtown Milwaukee community.”
The company will occupy 160,000 square feet of space in the HUB640 building at 640 Vel R. Phillips Ave. The building was formerly occupied by Boston Store and the corporate headquarters for its parent company The Bon-Ton Stores Inc., which went out of business in 2018.
The building is located in downtown Milwaukee’s Westown neighborhood, one of the hottest development areas in Milwaukee in recent years. Recent additions to the neighborhood include the new downtown office for Milwaukee Tool, Fiserv Forum and the Deer District, the Bradley Symphony Center, and the redevelopment of the former Shops of Grand Avenue into The Avenue (located adjacent to HUB640), which includes a food hall, office space and apartments.
And more development is coming to Westown. Kohl’s plans to open a store in the HUB640 building. In addition, Madison-based FPC Live plans to build a concert venue complex in the Deer District, a $420 million construction project to expand the Wisconsin Center is ongoing and will be compete in 2024, and a proposed mixed-use development northeast of the Marquette Interchange, called the Iron District, would bring a soccer stadium, a hotel, apartments and a concert venue to the neighborhood.
The Fiserv headquarters will feature a client meeting and conference center, social and collaboration spaces and culinary programming, according to the news release. It will also include a dedicated employee entrance and covered parking.
Bill Bonifas, Matt Cariello and Kenzie Kiefer of CBRE brokered the lease on behalf of Fiserv and John Davis and Ned Purtell of Founders 3 represented North Wells Capital, the owner of HUB640.