Novozymes BioAg Inc., a Copenhagen, Denmark-based biotech firm, is expanding its presence in Milwaukee. The firm recently leased a 75,500-square-foot building at 4801 W. Woolworth Ave., from Milwaukee-based Phoenix Investors LLC.
Novozymes has operations around the globe, including China, India, Brazil, Argentina, United Kingdom, Canada and the United States. The company says it holds an estimated 48 percent of the global enzyme market, making it the world’s largest producer of industrial enzymes. Novozymes has manufacturing operations in the Milwaukee area and plans to use the leased property for warehousing.
The building, leased by Novozymes, is part of the three-building, 270,000-square-foot Woolworth Industrial Cluster.
“We acquired the Woolworth Industrial Cluster in late 2014 from Community Bank & Trust. We are moving quickly to complete a renovation and re-positioning of these industrial properties,” said David Marks, managing director of Phoenix Investors. “We were delighted to negotiate an expansion of the leased premises with Novozymes, a global powerhouse in the biotechnology space.”
“We are pleased to expand our relationship with Novozymes,” said Kurt Jensen, senior vice president of acquisitions at Phoenix Investors. “We are active in the industrial corridor of northwest Milwaukee, and it is extremely positive for this community to see a global company of Novozymes’ stature take an expanded economic stake in this Milwaukee industrial sub-market.”