Milwaukee-based development firm Mandel Group Inc. recently hired CB Richard Ellis to help market several sites that Mandel is planning to develop.
"We have entered into an agreement with CB Richard Ellis to have them assist in marketing real estate that we have that would allow us to proceed with the developments," said Mandel chief operating officer Robert Monnat. "We want to have them assist us with finding new opportunities."
Recently CB Richard Ellis "available" signs were posted at Mandel-owned properties in the Third Ward, Fifth Ward, along North Avenue and in St. Francis. The signs have attracted a lot of attention, Monnat said.
"I can’t tell you how many calls I’ve gotten on them," he said. "We want people to know these sites are available and we intend to develop them as quickly as the market will allow. (The signs) are really to let people know these sites are available for development. We don’t want anyone to assume that there is a done deal and we’re just waiting to break ground."
The signs may give the impression that the properties or for sale, but Mandel is unlikey to sell them, Monnat said. The development firm wants potential tenants to know that they could occupy a development on the properties.
"Our intention is to develop these sites," Monnat said. "We’re looking for tenants or parties that have a space need for a build-to suit. By bringing in CB Richard Ellis we’re simply trying to accelerate the development of these properties in a very challenging market. We’re just trying to make sure the market is aware of these sites."
