Landmark Credit Union has purchased the Executive Drive property it has identified as the site of its new corporate headquarters.
According to state records, the New Berlin-based credit union acquired the building at 555 S. Executive Drive for $8 million from affiliate groups of Milwaukee-based Zilber Property Group.
Landmark plans to tear down the existing building and construct a five-story, 158,000-square-foot headquarters building. It may also elect to build an additional 148,000-square-foot office building in a later phase.
The credit union announced in December it was working on plans to move into a new and larger building than its current 60,000-square-foot headquarters at 5445 S. Westridge Drive.
Landmark Credit Union has $3.9 billion in assets and more than 650 employees working out of 31 locations in southeastern Wisconsin. The new headquarters would house the more than 300 employees working at its existing headquarters, as well as other area offices.
