Affiliates of Milwaukee-based commercial real estate development firm Irgens recently purchased two sites in the Milwaukee County Research Park in Wauwatosa, according to state records. Irgens says it is working on plans to build new office buildings on the sites.
The Irgens affiliates purchased an 8.3-acre site at 10100 W. Innovation Drive for about $1.45 million and a 5.9-acre site at 10401 Innovation Drive for about $682,300. Both sites were sold by the Milwaukee County Research Park Corp.
Irgens plans to build a 100,000-square-foot multi-tenant office building worth $15 million to $20 million on the 8.3-acre site. Construction is expected to begin in early spring and be complete in the first quarter of 2016.
On the 5.9-acre site, Irgens plans to build a 65,000- to 75,000-square-foot build-to-suit headquarters office building. The building will be worth about $12 million. Construction on that building could begin in the fourth quarter of 2015.
No tenants have been named for the two office building projects.
With the sale of the two sites to Irgens, there are now only three sites available in the 175-acre Milwaukee County Research Park, each about 1.5 acre in size, said Guy Mascari, director of development for the Milwaukee County Research Park. The Milwaukee County Research Park is located southwest of U.S. Highway 45 and Watertown Plank Road.