ManpowerGroup‘s corporate headquarters building at the Schlitz Park complex in downtown Milwaukee is for sale.
The four-story, 280,000-square-foot building was built for ManpowerGroup in 2007 by Schlitz Park developers Gary Grunau and Scott Sampson. It is located at 100 W. Manpower Place along the Milwaukee River and adjacent to the former Schlitz brewery complex, which Grunau and Sampson converted into an office park in the 1980s.
The ManpowerGroup building has an assessed value of $59.3 million, according to city records.
In February, ManpowerGroup, which employs about 900 people downtown, extended its lease at Schlitz Park through 2031. The lease will not be effected by the sale of the building.
“As we continue to evaluate how to best reinvest in and grow Schlitz Park so we can continue to attract exciting new tenants to downtown Milwaukee, we are considering a possible sale of the Manpower headquarters,” Grunau said in a statement.
Additionally, Grunau said he plans to refinance the main portion of Schlitz Park and separately the Stock-House Building, which will allow the Schlitz Park developers to pay off their public and other prior financing.
Since the 46-acre Schlitz Park was redeveloped in 1983, it has become home to 38 companies that employ more than 4,200 people
“During the past 34 years, Schlitz Park, the city and our financial institutions have committed resources to renovate our buildings and transform the entire property,” Grunau said. “We remain committed to Schlitz Park, downtown Milwaukee and creating new jobs as demonstrated by our $5.5 million investment underway to convert the old Assurant warehouse into office space as well as numerous exterior and landscaping upgrades.”
