A manufacturer is planning an expansion into a former Kohl's office space while a developer builds a new industrial building on a parking lot across the street at a Menomonee Falls business park.
Menomonee Falls-based
Dynamic Tool is looking to renovate the 110,000-square-foot building at N54 W13600 Woodale Drive, as well as construct an additional 50,000 square feet of space on the rear of the building. The now vacant building was previously used by Kohl's as a customer service and operations center.
Dynamic Tool, a custom plastic injection mold builder, will remain headquartered at a facility down the street. In 2022, the company purchased the building, built in 1989, for $4.3 million.
"We are renovating and refurbishing the Woodale Facility to expand our manufacturing, engineering, and development capabilities and resources," said John Berg, who heads business development for Dynamic Tool.
Meanwhile, a new 79,000-square-foot industrial building across the street at W134 N5450 Campbell Drive is under construction by Elm Grove-based developer
Luther Group. The developer purchased the parking lot, previously used by Kohl's, for $850,000 earlier this year.
Menomonee Falls officials are working with Dynamic Tool and Luther Group to support the redevelopment with a proposed $4.45 million in tax incremental financing. The TIF plan is for a total of 21.6 acres to include additional buildings.
"Several outdated buildings to the west were included in the district in hopes of spurring additional redevelopment," the plan says.
The village is projecting new land and improvements valued at approximately $26.5 million will result from the project by 2042, resulting in $4.5 million in tax increment, the plan says.
Village funds would be used for site preparation, street improvements and utility improvements, among other things.
"The village has a large industrial footprint, with the sixth highest manufacturing real estate assessed value in the state of Wisconsin as of 2022, but new industrial spaces are becoming harder and harder to find," village documents say. "As a result, the village is looking at creative ways to allow for existing industrial firms to grow and expand."
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Map from Menomonee Falls / Ehlers[/caption]
