San Mateo, California-based WageWorks, an administrator of consumer-directed benefits, will move its Mequon office to downtown Milwaukee.
[caption id="attachment_334303" align="alignright" width="375"] Rendering submitted to the city for WageWorks sign at CityCenter at 735.[/caption]
The company will lease 37,000 square feet on the top two floors of CityCenter at 735, a 17-story building located at 735 N. Water St.
WageWorks will be the latest of a growing list of companies to relocate their offices from the suburbs to downtown. Other companies that have moved from the suburbs to downtown recently, or are planning to make the move, include: J.P. Cullen, Hammes Company, Bader Rutter, JLL and Badger Liquor.
The move will relocate 150 employees to downtown Milwaukee. The new space will provide enough room for WageWorks to add another 50 employees, for a total of 200.
"This move will enable WageWorks to streamline operations and accommodate future growth," said Joe Jackson, Chairman and CEO of WageWorks. "The vibrancy of downtown Milwaukee reflects our culture and values, and we’re thrilled to join this dynamic community."
The deal also brings the building's occupancy rate up to 90 percent, said Sheldon Oppermann, executive vice president of CityCenter.
WageWorks will make the move by September 2018, and will leave its Mequon office at 10375 N. Baldev Ct.
“We are beyond pleased to welcome WageWorks and its employees to our CityCenter community,” Oppermann said. “Throughout this process, it was apparent they were considering all of their options and were very careful in making their decision. We thought WageWorks and their employees would be a great fit not only for CityCenter, but also for our downtown Milwaukee community.”
WageWorks has been in the market for new office space for several years and also considered Schlitz Park and 330 Kilbourn, formerly known as Plaza East, according to several real estate sources.
WageWorks was represented by Tim Rikkers, principal of Cresa in Madison. Rikkers said the company had considered a number of downtown locations before settling on CityCenter@735, owned by Compass Properties.
“We worked diligently to find a location that offers the benefits of being downtown in a building that complimented their commitment to their employees,” Rikkers said.