Last updated on May 15th, 2019 at 05:03 pm
After spending three years acquiring property in Walker’s Point, the owner of a Milwaukee IT services firm is selling the buildings and parcels, saying the property no longer fits his use.
David Stamm, CEO of Stamm Business Technologies Inc., has listed the properties for sale on a website, www.117sale.com.
The three properties include:
- A 19,898-square foot building at 117-121 W. Pittsburgh Ave. The three-story building is listed for $875,000. The property has an assessed value of $467,000.
- A parking lot at 114-116 W. Oregon St., behind the Pittsburgh Avenue building. The asking price is $235,000. The property is assessed at $50,000.
- A vacant gravel lot at the corner of 1st Street and Pittsburgh Avenue, 209 S. 1st The asking price is $385,000. The land is assessed at $170,000.
The lots will not be sold until the building on Pittsburgh has a buyer, according to the website.
On the site, Stamm, who does not list his name, explains that he acquired the parcels to grow his companies, Stamm Media and Stamm Technologies, but during that time, his businesses have expanded to the point where these specific sites no longer fit their use.
“We love the location of Walker’s Point and we are actively seeking a different location in the neighborhood,” the site says. “We love this historic building and the neighborhood, but unfortunately, we must sell these parcels off and find the right location for our needs.”
Stamm did not return phone calls seeking comment.
Previously, Stamm said he was planning to move his companies to Walker’s Point from Brookfield and Milwaukee’s Brewers Hill area.
Stamm demolished a former gas station at 209 S. 1st St. in December 2014 to create a parking lot for employees. In March 2013, he purchased the warehouse at 117-121 W. Pittsburgh Ave. for $450,000, according to records.
Stamm’s main office is at 116 E. Pleasant St. He has another facility at 4465 N. 124th St., Brookfield.