Real estate profile: Sarah Jelencic

real estate partner, Foley & Lardner LLC

Company: Foley & Lardner, LLC
Title:
 Real Estate partner
City of Residence
: Fox Point
Family:
 "Husband, Vlad, and son, Michael (16 and driving!)"
Hobbies and Interests:
"Running, cooking, reading, skiing and traveling (or at least talking about it)."

What are you working on? "In late spring, I completed the sale of the Milwaukee Center Office Tower. In addition, among other transactions, I am working with the North End, Mandel Group’s complicated mixed use brownfield project, and Julilly Kohler’s Kane Commons, a residential green community. .  I recently completed the TIF and related real estate acquisition and development work for the first two buildings in the Liberty Property Preserve project in Oak Creek, as well as the TIF work for the Direct Supply expansion. I have also been working on the legal complexities of developing wind energy projects. I enjoy mentoring and working with our female real estate associates (Jen Devitt, Jessica Mammoser and Lisandra Echevarria) and am excited about their futures with my firm." 

How does the market look to you? "The market has slowed down noticeably, but there continue to be exciting projects proposed for the Milwaukee area that should move forward. Although the weak dollar is sustaining certain industrial markets and providing some additional investment dollars, it will probably be some time before we see any significant recovery in real estate, particularly residential and retail. Milwaukee tends to be a relatively stable market, and so its highs and lows are typically not as extreme as in other metropolitan areas. However, we must find ways to implement and sustain more dynamic growth in southeastern Wisconsin and Milwaukee. We need to address the issues that limit growth in our area by working, among other things, to reduce poverty, improve MPS and provide job opportunities. The proposed expansion of UWM and Marquette, the announcement of the Zilber Neighborhood Initiative, the implementation of the Milwaukee 7, the focus on reducing crime and the development of downtown residential neighborhoods are all positive signs. We need to sustain these initiatives while pushing for additional action." 

What was the best deal you’ve ever been involved with? "I have truly been blessed by being able to work with fantastic clients and a great group of Foley lawyers on complicated projects that have had a positive impact on Milwaukee. Certain deals are memorable one, because of the number of disparate parties and lawyers that have had to work together to make the project successful, such as the Kenilworth Project or Cathedral Place; two, because of the very short time frame in which a complicated transaction has had to be completed, such as Marine Terminal and the JohnsonDiversey Sturtevant building (a LEED silver building); or three, because the project will be recognized as a city landmark, such as University Club Tower."

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