Pierce Engineers seeks MEDC loan to purchase Walker’s Point building

Pierce Engineers Inc., a structural engineering firm currently located in Milwaukee’s Historic Third Ward, plans to purchase the former Kramer Foundry building in Walker’s Point.

The firm plans to occupy the 7,000-square-foot second floor of the building.

The former Kramer Foundry building, located at 170 S. First St., is currently owned by Milwaukee-based Dixon Development LLC, which redeveloped the building into office and retail space. The building’s first floor is currently occupied by a Colectivo café and Stack’d Burger Bar.

The two-story, building was built in 1895 and has an assessed value of $789,000, according to city records.

Pierce Engineers’ office is currently located at 241 N. Broadway in the Historic Third Ward. The firm plans to move its offices from there to the former Kramer Foundry building, said vice president and co-owner Randy Elliott.

The company wants to own rather than lease its space and wanted to remain in the Third Ward area, Elliott said.

“We plan on being here a long time,” he said.

The firm has 35 employees, including 24 in its Milwaukee office.

Pierce Engineers is seeking a $165,000 loan from the Milwaukee Economic Development Corp. to purchase the building. The MEDC Loan and Finance Committee will review the request on Tuesday.

Pierce plans to buy the building for $1.1 million, according to a MEDC report. The primary lender for the deal is Waukesha State Bank, according to the report.

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