The hotel development group that owns the Aloft and Marriott hotels in downtown Milwaukee and plans to develop a Westin hotel downtown also plans to develop a hotel next to the downtown convention center.
Jackson Street Management LLC plans to conver the 87-year-old Commerce Building, a six-story, 92,255-square-foot office building at 736-48 N. 4th St., into a hotel.
The building is appealing for a hotel conversion because it is located across the street from the Wisconsin Center and is connected to the convention center by a skywalk, said Jackson Street Management spokesman Evan Zeppos.
“We think it’s an incredibly strong location for a convention hotel,” Zeppos said.
The building is mostly vacant, Zeppos said, and is currently owned by Zilber Property Group. Jackson Street Management is negotiating a deal to purchase the property from Zilber, he said.
Jackson Street Management is also in talks with a hotel flag for the project, Zeppos said. He declined to name the brand.
Jackson Street Management remains “bullish” on the downtown Milwauke hotel market as the Aloft and Marriott are performing well, Zeppos said. Jackson Street Management built the 160-room Aloft hotel at 1230 N. Old World Third St. in downtown Milwaukee in 2009 and the 205-room Marriott hotel at 323 E. Wisconsin Ave. in 2013.
