CH Coakley & Company has signed a three-year lease with the state Department of Administration for 38,204 square feet of space at its Menomonee Falls warehouse.
The DOA will use the space at N54W13900 Northpark Drive for office use.
An affiliate of the Coakley company purchased the 388,000-square-foot building in December from the Village of Menomonee Falls for $7.2 million.
The village owned the building since 2011, when it obtained it from Kohl’s Corp. in exchange for a building in the Woodland Prime business park in Menomonee Falls.
“The size of the Northpark Center facility really presented us a unique opportunity to expand our warehousing offerings along with other CH Coakley business solutions,” said CMK and CH Coakley President, Mike Coakley.
Since purchasing the property, Coakley has leased out the entire building to five tenants, including two anchors, the Department of Workforce Development and the Milwaukee Sting Volleyball group.
“To say this endeavor has surpassed our expectations is an understatement, and we are considering this model for our other warehouses and future acquisitions,” Coakley said.
