Last updated on May 13th, 2019 at 02:36 pm
Can Milwaukee Professional Soccer LLC pull off its ambitious plans to build a massive mixed-use development, including a 20,000-seat soccer stadium, in downtown Milwaukee? We may find out this year if the company is for real. Their goal is to have a Major League Soccer (MLS) team playing in Milwaukee starting in 2008. To have the stadium built on time for the 2008 season, construction must begin by August this year, said Peter Wilt, chief executive officer of the company.
Attorney Martin J. Greenberg, Milwaukee area businessman Rick Bergman and Milwaukee doctors James Mazzulla and Ashok Kumar formed Pegasus ParkEast Partners LLC to be the sole managing member of Milwaukee Professional Soccer LLC. They hired Wilt last year. He launched the Chicago Fire expansion team in 1998.
They have met with city officials, some of whom are taking their plans seriously.
"I think soccer is a very interesting idea for Milwaukee," said Alderman Robert Bauman, who represents the downtown area. "I actually think it’s feasible."
However, the group has a lot of work to do before construction of the soccer stadium can begin. They need to obtain: a 30-acre site in the downtown area, a commitment from MLS to grant Milwaukee an expansion team, more investors and city approval for the project. The group hopes to secure an option this spring with MLS to provide a team to Milwaukee.
"The first quarter of 2006 is going to be critical for this project," Wilt said.
The soccer stadium would only take up about eight of the 30 acres in the development, Wilt said. The rest of the property would be developed mostly with condominiums, but also with some office space and some retail space. Milwaukee Professional Soccer is working with Washington, D.C.-based Global Equity Partners LLC on the real estate development. The total cost of the project would be more than $500 million, Wilt said.
To put the project in perspective, it would have a more expensive development price tag than Miller Park or the now defunct PabstCity project.
The additional commercial and residential development is critical to financing construction of the stadium, Wilt said.
"Real estate is driving the project," he said. "The revenue from the real estate is going to be used to underwrite the stadium. The stadium is almost a loss leader. Operating the team and the stadium will be profitable, but the debt service for (building) the stadium has to come from elsewhere."
Milwaukee Professional Soccer knows that "elsewhere" cannot come from a new tax, such as the sales tax that was used to build Miller Park for the Milwaukee Brewers, Wilt said. There is no political support for another publicly financed sports stadium, said Department of City Development spokeswoman Andrea Rowe Richards.
Milwaukee Professional Soccer hopes a tax incremental financing (TIF) district could be used to fund the project. But, it would be a developer-financed TIF and not a city-financed TIF, Wilt said.
A TIF may have political support, "if the TIF is supported privately so the city is not holding the bag," Wilt said.
"If it’s developer-financed there’d be considerably fewer obstacles," Bauman said.
As implied by the name of Pegasus ParkEast Partners, they originally wanted to build the stadium in the Park East freeway corridor. However, city officials balked at those plans.
"(City Planner Robert) Greenstreet and (Department of City Development Commissioner Rocky) Marcoux do not want a stadium on that land," Wilt said. So, the group is looking for sites elsewhere downtown, which he declined to identify.
Bauman said the group is looking at the parking area near the Italian Community Center and the Summerfest grounds in the Historic Third Ward.
"We do have a preferred site we are talking to land owners and the city about," Wilt said. "The biggest challenge is securing the site. We’re trying to secure a minimum of 30 acres. That’s a big chunk."
For more information about Milwaukee Professional Soccer LLC visit: www.milwaukeeprosoccer.com.
It appears that Abbott Park, Ill.-based Abbott Laboratories is planning something big for Kenosha County. During the last several months, business entities called PDD LLC, PDD II LLC and PPD II LLC have acquired about 200 acres, located northwest of I-94 and Highway 165/County Highway Q, for more than $20 million. PDD’s address is 625 Cleveland Ave., Columbus, Ohio, which is the same address as Abbott Laboratories’ Ross Products division. Abbott Labs manufactures pharmaceutical, nutritional and medical products. The company has 60,000 employees. The Ross Products division makes nutritional products including infant formulas. The company refuses to say what it intends to do with the Pleasant Prairie land and may be trying to keep a low profile as it assembles a large development site. "We don’t have any comments to make at this time regarding that," said Abbott Labs spokesman Jonathon Hamilton. Whatever the company’s plans are, they appear to be significant, based on the size of the amassed property. By comparison, Northwestern Mutual Life Insurance Co. built its new 500,000-square-foot Franklin facility on an 84-acre site that is expected to provide enough room for 20 years of expansion with 2 million square feet of office space. Just across the street, southwest of Highway 165/County Highway Q and I-94, Kenosha-based Jockey International owns 70 acres. Jockey eventually plans to build a new headquarters facility there. "We have not established a timeline to begin construction," said Mark Jager, senior vice president and general counsel for Jockey.
Other Milwaukee news
Jim Haertel says Cincinnati Restaurant Group Inc. still plans to open a Hofbrauhaus microbrewery in the former Pabst brewery, even though Hans Weissgerber has opened a similar venue, the Old German Beer Hall, at 1009 N. Old World Third St. Haertel is a minority owner in the massive Pabst brewery property. He expects to own the former gift shop, Blue Ribbon Hall and Pabst corporate offices at 901-917 W. Juneau Ave. His rights to those buildings were part of a legal dispute with Wispark LLC and Ferchill Group, but all along, Haertel has expected to acquire the buildings as part of his agreement with Wispark and Ferchill. Now Zilber Ltd. is trying to decide if it will purchase the brewery property. Mike Mervis, assistant to Zilber Ltd. chairman Joseph Zilber, says the company will work with Haertel. Weissgerber’s Old German Beer Hall serves beer imported from the Hofbrauhaus in Munich, Germany. It will provide a good test market to determine if Milwaukeeans like Hofbrauhaus beer, Haertel said. But the Old German Beer Hall is smaller than the 15,000 to 20,000-square-foot Hofbrauhaus planned for the former Pabst brewery. The Old German Beer Hall has a seating capacity of about 100 and is not big enough to kill the Hofbrauhaus plans at the Pabst brewery, Haertel said. "I broached the idea (with Cincinnati Restaurant Group) of doing a smaller venue for a period of time at the former Stout Bros. site (an 8,000-square-foot space at 777 N. Water St.)," Haertel said. "They had absolutely no interest. It has to be a full-fledged big restaurant, big banquet hall, big beer garden. They are looking to do $5 million to $6 million in revenue per year." If the Old German Beer Hall is a total failure, then Cincinnati Restaurant Group may back away from its plans for the Pabst brewery, Haertel said. Otherwise, they believe enough marketshare exists for both the Hofbrauhaus and Old German Beer Hall in downtown Milwaukee. "Hopefully we’ll both do great," he said. Cincinnati Restaurant Group also plans to open a Hofbrauhaus in Chicago and has a license for six Midwestern states, Haertel said.
Mark Irgens, president and managing member of Wauwatosa-based Irgens Development Partners, said his firm is still trying to attract an anchor tenant to the proposed Ovation Plaza building, which would be a mixed-use high rise with office space, residential condominiums, retail space and parking space that would replace the Marcus Center for the Performing Arts parking garage northwest of State and Water streets in downtown Milwaukee. There are some potential anchor tenants and smaller non-anchor tenants, considering relocation to proposed new downtown buildings, Irgens said. He declined to name those potential tenants. Irgens and other developers planning new downtown buildings need to secure an anchor tenant before construction can begin. Downtown Milwaukee law firm Godfrey & Kahn considered moving its offices to Ovation Plaza or a proposed mixed-use high rise planned by JBK Properties Inc. and U.S. Bank, near the current U.S. Bank Center at 777 E. Wisconsin Ave., but decided to stay put at the M&I Bank building, 780 N. Water St. "I was very disappointed over Godfrey & Kahn’s decision not to move forward with the building," Irgens said. "We spent a ton of time and money on their proposal. They said they were going to move for sure. I find it incredible that (staying put) is what they did. To have people tell you one thing and go and do the opposite is really disappointing." Rick Bliss, managing partner for Godfrey & Kahn, declined to comment. "I think they initially intended to move," said Joe Ullrich, vice president of corporate real estate for U.S. Bank. "With any negotiations, things always change. A company has to do what’s right for their needs."
Ullrich said he is not aware of any anchor tenants currently in the market that could be an anchor for U.S. Bank’s proposed tower. "There’s some real quality (potential) tenants out there that may be good. If you could get three or four of them, you could get a project off the ground," he said. However, Robert W. Baird & Co. Inc., which leases about 260,000 square feet at the U.S. Bank Center, is considering its future office space options. The company could stay put, move to a new building or move only its 100,000-square-foot operations center to a new location. If Baird decided to move, it could be the anchor tenant needed to spark construction of a new downtown or suburban office building. Ullrich said he is committed to trying to keep Baird at the U.S. Bank Center. The second-best option for U.S. Bank would be if Baird decided to move to the new office tower that U.S. Bank and JBK has proposed, he said. The worst case scenario for U.S. Bank would be if Baird decided to move to a different building, leaving a large vacant space at the U.S. Bank Center and leaving the proposed second U.S. Bank tower on the drawing board. JBK has responded to Baird’s RFP, Ullrich said. "I’m not involved with JBK’s response to the RFP at all," he said. "If we can’t provide a solution (for Baird at the U.S. Bank Center), I don’t know why I would tell JBK they can’t pursue them. We’re not ones to stand in the way of progress."
The accounting office for Wispark LLC, Wisvest Corp. and Minergy (all divisions of Wisconsin Energy Corp.) and their subsidiaries moved recently from N16 W23217 Stone Ridge Drive, Waukesha, to 2425 S. 35th St., Milwaukee.
Winnipeg, Manitoba-based Arctic Glacier Inc. plans to purchase the 24,000-square-foot building at 9563 S. 60th St. The company plans to use the building to make ice cubes for distribution to retailers in the area. The company is also considering a 3,000-square-foot addition to the building.
Beachwood, Ohio-based Developers Diversified Realty plans to build a 15,000-square-foot, multi-tenant, retail building at 12455 W. Capitol Dr. The tenants would include Potbelly Sandwich Works. The Car-X building on the site would be demolished. Car-X is moving to another nearby location.
North Shore Bank plans to build a 5,000-square-foot branch and Starbucks plans to build a 2,000-square-foot café at the northeast corner of Highway 164 and Main Street. The site is an outlot of a shopping center anchored by a Pick ‘n Save grocery store. Brookfield-based North Shore Bank has 41 locations in the metro Milwaukee area, northeast Wisconsin and a loan center in Madison. Seattle-based Starbucks Corp. has 10,000 retail locations in North America, Latin America, Europe, the Middle East and the Pacific Rim.
Industries for the Blind Inc., a nonprofit organization, purchased the 95,000-square-foot former Wisconsin Machine Tool manufacturing facility at 445 S. Curtis Road, West Allis, for $2.74 million. Industries for the Blind plans to renovate the building and move its corporate offices and manufacturing operation there from 3220 W. Vliet St., Milwaukee. Inland Companies represented Wisconsin Machine Tool and Colliers Barry represented Industries for the Blind in brokering the deal. Wisconsin Machine Tool moved its manufacturing operation to Romania in 2001. The West Allis facility was for sale for almost five years. Wisconsin Machine Tool still has a sales and customer service center in Brookfield. The West Allis facility sits on an 11 acre site and has several cranes.
Direct Drive Express Inc. recently purchased the 22,420-square-foot former SAI Roofing facility on 4.2 acres at 11122 Rogers St., for $1.25 million. Judson & Associates brokered the deal. Direct Express, a trucking firm, also operates The Waterman and plans to more than triple the size of its current West Allis location at 11041 W. Mitchell St. SAI was purchased and consolidated with the FJA Christiansen Roofing Company.
Home Gameroom Supply recently moved from the southeast corner of 73rd Street and Greenfield Avenue to a nearby space at 7235 W. Greenfield Ave. Home Gameroom Supply sells jukeboxes, pinball machine, dart boards, neon signs, video arcade games and other items for home recreation rooms. The owners, Bob and Paul Reno, have expanded their product line and moved to a larger space.
Dickman Company Inc.
Jaime Reed leased 4,477 square feet of industrial space at 700 Swan Dr., Mukwonago, from Basset Enterprises LLC.
Smurfit Stone Container leased 94,340 square feet of industrial space at 7300 N. 60th St., Milwaukee, from Northwest Holdings Corp.
Continental Great Signs leased 5,331 square feet of warehouse space at 2220 S. 162nd St., New Berlin, from VMJ#1 LLP.
Milwaukee Composites Inc. leased 10,870 square feet of industrial space at 400 W. Bell Ct., Oak Creek, from K&Z Partners LLC.
State Farm Insurance leased 32,938 square feet of office space at 245 S. Executive Dr., Brookfield.
Oak Creek Family Medicine leased 7,900 square feet of office space at The Gathering, 8825 S. Howell Ave., Oak Creek.
Fireman’s Fund Insurance Co. leased 2,131 square feet of office space at Executive Center III, 125 N. Executive Dr., Brookfield.
Mid-America Real Estate
Martinizing Cleaners leased 1,138 square feet of retail space, Cingular Wireless leased 2,600 square feet of retail space, Starbucks leased 1,600 square feet of retail space, Fantastic Sams leased 1,416 square feet of retail space and Nick-N-Willy’s leased 1,208 square feet of retail space at Market Place at Pabst Farms in Oconomowoc from Pabst Farms Development LLC.
American Advantage Insurance leased 3,500 square feet of retail space at New Berlin City Center, New Berlin, from Deere Creek Retail Investments.
Starbucks leased 1,920 square feet of retail space at N84 W15801 Appleton Ave., Menomonee Falls, from WT Menomonee Falls LLC.
Starbucks leased 1,775 square feet of retail space at Sheboygan Commons, Sheboygan, from Zabest Commercial Group.
Sport N Cuts leased 1,495 square feet of retail space in The Brownstones at Calhoun and West Bluemound roads in Brookfield, from BB&K Brownstones Inc.
NAI MLG Commercial
Edward Enterprise Ltd. leased 3,984 square feet of industrial space in the Burlington Business Center at 701 Blackhawk Dr. Unit 1, Burlington, from Eye Mathithee LLC.
James F. Pechloff DDS leased 1,337 square feet of office space at 2645 N. Mayfair Road, Wauwatosa, from Devo Enterprises/Mayfair LLC.
Xentel Inc. leased 2,186 square feet of space in the Layton Square Shopping Center at 841-883 W. Layton Ave., Milwaukee, from Builder Realty & Investment Corp.
Orthodontic Centers of America Inc. leased 2,434 square feet of office space at 10945 N. Port Washington Road, Mequon, from Port Washington Road LLC.
Country Insurance & Financial Services leased 3,280 square feet of office space at 7200 Washington Ave., Mt. Pleasant, from 7300 Washington Ave. LLC.
Hung VU d.b.a. A-1 Nails leased 1,377 square feet of space at 8556 W. Brown Deer Road, Milwaukee, from HHAMB LLP.
Park Bakery LLC leased 1,015 square feet of space at the southeast corner of Layton Boulevard and National Avenue in Milwaukee from MRED Associates.
Monsoon Brookfield LLC leased 6,270 square feet of space at 17800 W. Bluemound Road, Brookfield, from Brookmound Plaza LLC.
Dr. Darrel Hischke leased 727 square feet of space and Dr. James Pechloff DDS leased 1,337 square feet of space at 2645 N. Mayfair Road #120, Wauwatosa, from Devo Enterprises/Mayfair LLC.
MindSpike Design LLC leased 1,500 square feet of space at 306 N. Milwaukee St. Unit 302, Milwaukee, from Lepold/Miller Ltd.
USCOC of Greater Milwaukee d.b.a. U.S. Cellular leased 3,322 square feet of space, Taylar Development leased 4,739 square feet of space and Degussa FreshTech Beverages LLC leased 3,172 square feet of space at 735 N. Water St., Milwaukee, from Compass Properties North Water Street LLC.
Frankie’s Discount Liquor LLC leased 3,204 square feet of space at 6955 S. 27th St., Franklin, from Bouraxis Properties (Riverwood Plaza) LLC.
Ki Choi and Sung Choi leased 1,388 square feet of space at 5328 S. 27th St., Milwaukee, from Kleczka Family Limited Partnership.
WHG Real Estate North LLC Applebees leased 5,160 square feet of space at 68th and State streets in Wauwatosa from Tosa Village Shopping Center LLC.
GS Systems LP leased 5,752 square feet of office space at 175 N. Patrick Blvd., Brookfield, from Transwestern Great Lakes.
Manpower leased 3,468 square feet of office space at Broadway Central, 241 N. Broadway, Milwaukee, from Loftquest LLC.
Sprout Inc. leased 1,792 square feet, Picture Perfect leased 3,190 square feet and VP Gallery expanded its current space by leasing an additional 1,658 square feet at the P.H. Dye House, 320 Buffalo St., Milwaukee, from Gardner Group LLC.
Alliance Shippers leased 2,034 square feet, Arthur & Owens leased 778 square feet and Midwest Nutritional Service leased 1,533 square feet at the Park Crest Center II, 2665 S. Moorland Road, New Berlin.
Jensen Health & Energy leased 3,255 square feet of office space at The Tradesman Building, 500 Elm Grove Road, Elm Grove.
Superior Construction Supplies leased 2,006 square feet of office space at The Forum, 3333 N. Mayfair Road, Wauwatosa, from Leisure Investments.
Wisconsin Lutheran Child & Family leased 2,116 square feet of office space at Mayfair Crossing, 1233 N. Mayfair Road, Wauwatosa, from MEPT.
Steven Holland purchased the 10,000-square-foot industrial facility at W204 N16635 Jackson Dr., Jackson, from Kenneth & Annette Quevy.
Space Management Co. LLC purchased the 10,400-square-foot industrial facility in the Menomonee Falls Industrial Park at N94 W14588 Garwin Mace Dr., Menomonee Falls.
Industries For The Blind Inc. purchased the 95,000-square-foot industrial building at 445 S. Curtis Road, West Allis, from CS Investments Limited Partnership.
TCB 2 LLC purchased 1.5 acres of vacant land at 820 Swan Dr., Mukwonago, from Executive Motor Coach LLC. The sale price was $101,000.
Mathews Properties LLC purchased 16,000 square feet of industrial space at 2080 Energy Drive, East Troy, from Frank C. Price and Linda L. Price. The sale price was $525,667.
Industries For The Blind Inc. purchased the 95,000-square-foot industrial building at 445 S. Curtis Road, West Allis, from CS Investments Limited Partnership.
Judson & Associates
Direct Drive Express purchased the 22,420-square-foot former SAI Roofing facility on 4.2 acres at 11122 Rogers St., West Allis. The sale price was $1.25 million.
Mid-America Real Estate
Midway Properties purchased 16,000 square feet of space at 1823 Geneva St. and 10,500 square feet at 1807 Geneva St., Delavan, from Delavan Retail.
NAI MLG Commercial
Midwest Engineering Services LLC purchased 2.15 acres of industrial space in the Waukesha Corporate Center in Waukesha.
Premises Group LLC purchased 93,596 square feet at 2152 S. 114th St. and 2150 S. 114th St., West Allis, from Bonim Limited Partnership.
MSI General Corp., Oconomowoc, was selected by Metro Holdings LLC to design and build a new 17,000-square-foot medical office building at 12555 W. National Ave., New Berlin.
Selzer-Ornst Co., Wauwatosa, was selected for the build-out of Solberg Eye Care at S30 W24896 Sunset Dr., Waukesha. The new eye care facility will have a patient education area, exam rooms, clerical and office space and an expanded frame selection area. Torke Wirth Pujara Ltd. is the designer for the project.