Milwaukee-based finishing, seating, components and automotive acoustics manufacturer Jason Inc. plans to move its corporate headquarters to 833 East, the 17-story office tower that real estate development firm Irgens will build at 833 E. Michigan St. in downtown Milwaukee.
The downtown Milwaukee offices of Cresa and First American Title Insurance Company will also move to the 833 East building.
Those three tenants will all move from other downtown addresses. Jason Inc. will move from the 411 East Wisconsin Ave. building, First American will move from the ASQ Center at 648 N. Plankinton Ave. and Cresa will move from the City Center at 735 building at 735 N. Water St.
Those tenants will join the previously announced tenants in the project: Godfrey & Kahn, the Milwaukee office of Colliers International and Irgens’ own headquarters office.
Godfrey & Kahn is leasing 77,817 square feet in the building, Irgens will occupy 25,328 square feet, Colliers International is leasing 20,422 square feet, Jason Inc. is leasing 12,506 square feet, First American is leasing 5,952 square feet and Cresa is leasing 2,516 square feet.
Two additional tenants have signed leases, but are not being named by Irgens at this time. One is leasing 18,135 square feet and the other is leasing 5,479 square feet. Both of those tenants are currently located in the city of Milwaukee, said Mark Irgens, chief executive officer, president and manager of Irgens.
Irgens has obtained signed leases for 168,155 square feet of office space in the project. The building has a total of 358,017 square feet of leasable office space.
Irgens also still hopes to attract a high end restaurant to the building.
Site preparation work for the project began recently and demolition work to remove half of a parking structure to make way for the new building will begin this week. A groundbreaking ceremony will be held on Wednesday.
Construction is expected to be complete in mid-February of 2016.
The 833 East project will cost $101.51 million. The project is being financed with a $24 million loan from The PrivateBank, a $24 million loan from Associated Bank, an $11.5 million loan from Bank Mutual and an $11.5 million loan from Anchor Bank. The remaining $30 million for the project is being provided in the form of equity financing.
“It’s good to celebrate our successes,” Irgens said “But we’re not done. Our focus now is on how to complete the project successfully.”