An affiliate of Fox Point-based developer General Capital Group has purchased 34-acres of vacant land in the city of Oak Creek for a possible business park.
[caption id="attachment_331519" align="alignright" width="326"] 9700 S. 13th St. (Photo courtesy Google)[/caption]
Dennis Tischendorf sold the property at 9700 S. 13th St. to Ryan Business Park LLC for $1.7 million, according to state records.
Ryan Business Park LLC is registered to General Capital Management Inc.
When reached for comment, Linda Gorens, partner at General Capital, said she needed to find out more information about the sale before commenting. Gorens did not call back before deadline.
Oak Creek Mayor Dan Bukiewicz said General Capital is putting land together for a possible business park.
"It is really nice real estate, right off the interstate ramp, and it would without a doubt make a great park," Bukiewicz said. "It would be great to get a well-known company in place to anchor the corner."
On Tuesday the Oak Creek Common Council will consider taking the preliminary steps to form a tax incremental financing district for the project, said Doug Seymour, Oak Creek's director of community development.
"We're hoping to work with them and potentially get a business park going," Seymour said.
The property is vacant farmland just south of West Ryan Road, across the street from Colder’s Furniture Appliances and Mattresses, 9725 S. 13th St.
General Capital Group has developed several residential and mixed-use projects across the state.
The company partnered with Peter Moede to develop Milwaukee’s Reed Street Yards, a 17-acre former rail yard in Walker’s Point, into a business park in 2014. The intent was to create a hub for the water technology industry.
In 2015, Zurn announced it would move its headquarters from Pennsylvania to Reed Street Yards and brought 120 jobs to the city. Reed Street Yards is currentlyone of the sites being considered for Brookfield-based Fiserv Inc.’s new corporate headquarters.