Komatsu Mining Corp. paid $8.76 million to acquire two properties at the former Solvay Coke site in the Milwaukee harbor, according to state records.
The maker of mining shovels and other equipment acquired Milwaukee-based Joy Global in 2017. The company is planning a $285 million headquarters and manufacturing facility at the site along East Greenfield Avenue.
Wisconsin Gas LLC, doing business as We Energies, sold a 41-acre parcel to Komatu at 311 E. Greenfield Ave. for $7 million, according to state records. The city of Milwaukee also sold the company a 12-acre property at 401 E. Greenfield Ave. for roughly $1.76 million.
“The property acquisition is an exciting milestone and will allow Komatsu to proceed with construction for project completion in 2022," said Leah Harnack, spokesperson for Komatsu.
Komatsu announced its new headquarters project in September 2018. The project is eligible for $59.5 million in state tax incentives and is also supported by a $25 million city of Milwaukee tax incremental financing district.
The company planned to create 443 new jobs through the project, potentially bringing its employment in the region to around 1,000. The facility will include 170,000 square feet of office space, a 20,000-square-foot museum and training building and 410,000 square feet of manufacturing space.
When announced, the project was expected to be complete by 2022.
To prepare the site for development, We Energies led a multi-million environmental cleanup effort to address contamination from coal and years of other industrial uses.