Home Industries Real Estate Milwaukee Tool paid $6.7 million for former Strong Funds office building

Milwaukee Tool paid $6.7 million for former Strong Funds office building

By
Andrew Weiland
-
Aerial view of 100 Heritage Reserve, Menomonee Falls. Image from Crexi.

Brookfield-based tool manufacturer Milwaukee Tool paid $6.7 million for the former Strong Funds office building in Menomonee Falls that it recently purchased from Charlotte, North Carolina-based Allspring Global Investments, according to state records. Milwaukee Tool and Allspring announced the deal earlier this month, but did not disclose a sale price at that time. The building,

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Andrew Weiland
Andrew is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan, a member of the Muskego Athletic Association board of directors and commissioner of the MAA's high school rec baseball league.
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Brookfield-based tool manufacturer Milwaukee Tool paid $6.7 million for the former Strong Funds office building in Menomonee Falls that it recently purchased from Charlotte, North Carolina-based Allspring Global Investments, according to state records. Milwaukee Tool and Allspring announced the deal earlier this month, but did not disclose a sale price at that time. The building, located at 100 Heritage Reserve, was originally the headquarters of Strong Capital Management, which was acquired by Wells Fargo in 2004. Allspring was previously the asset management division of Wells Fargo, but became an independent firm in 2021. Allspring sold the building because it is moving its office to the Historic Third Ward in Milwaukee. The building is the fourth acquired by Milwaukee Tool in Menomonee Falls and one of three within walking distance in the Woodland Prime business park. Milwaukee Tool recently said that its plans for the newly-acquired building have not yet been finalized.

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