Milwaukee-based Good Karma Brands, the owner of several radio stations, is finalizing plans to move its offices and the WTMJ and ESPN Milwaukee radio stations to The Avenue in downtown Milwaukee, according to sources.
Good Karma Brands owns the WTMJ radio station, ESPN radio stations in Milwaukee, Madison, Cleveland and West Palm Beach, Florida, and two radio stations in Beaver Dam, WBEV and WXRO. Good Karma last year agreed to buy WTMJ and WKTI for $16 million from The E.W. Scripps Co. Good Karma switched WKTI from a country music format to a sister station for ESPN Milwaukee.
According to the company’s website, Good Karma was founded by Craig Karmazin in 1997 with the purchase of three radio stations in Beaver Dam.
The former Shops of Grand Avenue mall in downtown Milwaukee is being redeveloped into The Avenue, which will include office space, apartments and a Food Hall.
Sources indicate Good Karma is finalizing a lease deal with the owners of The Avenue development, located at the intersection of Old World Third Street and West Wisconsin Avenue. The deal will provide space for the relocation of the Good Karma offices, currently located at the 310W building at 310 W. Wisconsin Ave. in downtown Milwaukee (across the street from The Avenue), as well as WTMJ stations 620 AM and 103.3 FM and WKTI station 94.5 FM, which are currently located at Radio City at 720 E. Capitol Drive.
A spokeswoman with Good Karma declined to comment on the move, but confirmed the company is looking to relocate its offices.
Tony Janowiec, president and chief manager of Milwaukee-based Interstate Development Partners and a co-owner of The Avenue, also declined to comment.
Good Karma has for about a year been searching for a location to relocate its Radio City stations, which it acquired from E.W. Scripps, according to one source. Good Karma has specifically been seeking a downtown street-level space where its radio stations could be highly visible, said another source.
The Avenue project includes 190,000 square feet of office space, a 21-tenant food hall known as 3rd Street Market Hall and the 52-unit Plankinton Clover apartment complex. Milwaukee-based engineering firm GRAEF-USA Inc. is also moving its headquarters there from the city’s far west side by the end of December. GRAEF would occupy 35,000 square feet on the building’s third floor. The firm recently hired a general contractor to begin the tenant build-out work for its office.
A crane recently began disassembling the old glass entryway at Third Street, making way for a new public plaza to eventually be constructed there.
