Menomonee Falls-based Milwaukee Steel Rule Dies LLC plans to purchase a former Journal Sentinel distribution facility, a move the company says will create eight new jobs in two years.
According to a report from the Milwaukee Economic Development Corp., the company wants to purchase the building at W187N8620 Maple Road, Menomonee Falls.
The 12-year-old manufacturer would buy the building and make various improvements to it “to help with the growth of the company,” according the report.
The company’s owner wasn’t immediately available for comment.
The building is still owned by the newspaper, and tax bills are sent to parent company Gannett Co. Inc.‘s headquarters in McLean, Virginia, according to Waukesha County records. The property is assessed at $512,900.
According to a listing on LoopNet, the 12,000-square-foot building has a sale price of $575,000. It includes 10,000 square feet of warehouse space and 2,000 square feet of offices, including four private offices and a conference room. The building was constructed in 2000.
Acquisition and building improvements altogether would cost $771,500. Milwaukee Steel Rule Dies is seeking a $304,000 loan from MEDC to assist in the purchase of the building.
The MEDC’s Loan Committee is meeting Wednesday morning to consider the loan request.
According to the MEDC report, the manufacturer plans to add to its payrolls as a result. It expects within two years to add four full-time and four part-time jobs. It currently has 27 employees, 19 of which are full-time.
Milwaukee Steel Rule Dies is currently located at N56 W13712 Silver Spring Road.