Springfield College plans to move its Milwaukee campus from its existing location in downtown Milwaukee to a 22,178-square-foot space in The Timbers Building in The Tannery office complex at 700 W. Virginia St. in the city’s Walker’s Point neighborhood.
Springfield College’s main campus is in Springfield, Mass., but it also has 10 regional School of Human Services campuses, including one in Milwaukee. That campus is currently located in the Commerce Building at 744 N. 4th St. in downtown Milwaukee.
Jackson Street Management LLC plans to convert the Commerce Building, which is located across the street from the Wisconsin Center, into a hotel.
Springfield College recently signed a lease to occupy space on the fifth floor of the seven-floor Timbers Building, the largest building in The Tannery complex.
“(The space for Springfield College is) being built out right now,” said Ned Purtell of RFP Commercial. Purtell and Scott Revolinski of RFP brokered the deal for the The Tannery, most of which (excluding the Aurora Health Care headquarters building) was recently sold to Madison-based Sara Investment Real Estate for nearly $16.8 million.
Steve Pape of Greywolf Partners brokered the lease for Springfield College.
The lease brings occupancy of The Timbers building to well over 90 percent and the entire tannery complex has an occupancy rate of about 90 percent, Purtell said.
“(The Tannery is) doing very well,” he said. “I think more and more tenants want to be downtown or near downtown. That’s what’s driving it.”
The Tannery appeals to office tenants looking for “cool space” in old industrial buildings that have been converted to office space, similar to office buildings in the Historic Third Ward and at Schlitz Park, Purtell said. Those spaces appeal to tenants that are, “trying to build office space to attract the young talent,” he said. “Going forward, all of those types of buildings are going to do well.”
