Last updated on May 15th, 2019 at 04:47 pm
A Hayat Pharmacy executive said the company is weighing its options for a building that it purchased late last year on Milwaukee’s north side, including locating its headquarters there.
The building, located at the southwest corner of West North Avenue and North 10th Street, was purchased in late December by an affiliate of Hayat Pharmacy for $575,000, state real estate records show. It was formerly used by linen and uniform supplier Alsco Inc.
Tamir Kaloti, president of Hayat, confirmed Hayat’s interest in the building for a number of possible uses, including as a headquarters, storage, an investment property or something else. He cautioned that no final decision has been made.
“We think it’s a great building, and it has a lot of potential,” he said.
The property at 1003 W. North Ave. includes two buildings, a 48,695-square-foot structure built in 1931, and a 1,353-square-foot structure built in 1979, according to city records.
Alderman Russell Stamper, whose district includes the property, said during a press conference on Wednesday that Hayat officials recently reached out to his office to discuss their plans for a headquarters at the North and 10th site. Stamper said as many as 70 employees could be located there.
Kaloti didn’t specify how many employees exactly would be located there if they moved forward with the headquarters option for the property, but he acknowledged there “would be a lot of jobs there.”
Before committing to specific plans for the site, Kaloti said Hayat will want to work with Stamper and other city officials to decide what would best fit the community.
“We want to work with Alderman Stamper (and) other city officials, get their thoughts, and see if we can develop something special there,” he said.
Currently, Hayat has offices spread out among its various pharmacies, but the growing company has now reached the size where it needs to consolidate those operations into a central headquarters locations, said Kaloti. He added Hayat is keeping all its options on the table, thought it would strongly prefer to locate its headquarters in Milwaukee, where it does most of its business.
Kaloti said the company was attracted to the property on the corner of North and 10th because of its size, its proximity to the freeway, its ample parking and its location in a growing neighborhood. The building is also close by an existing Hayat Pharmacy location at the southeast corner of West North Avenue and North 20th Street.
“There’s been a lot of redevelopment in the area, and we’re really bullish on the neighborhood,” he said.
Hayat’s website lists 15 locations, including three pharmacy and convenience stores as well as two prescription-dispensing locations. All but four locations are in Milwaukee.
Kaloti said the company is still studying the 10th and North property, though it will definitely need upgrades regardless of what they determine to do with it.
“We’re evaluating our options and different costs related to each,” he said.