One of downtown Milwaukee’s most sought-after development sites is finally being listed for sale.
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The Rojahn & Malaney Wholesale Florist building sits along the Milwaukee River downtown.[/caption]
After 62 years at its current location, Rojahn & Malaney Wholesale Florist has listed its 0.6-acre property at 1005 N. Edison St., which includes an 18,784-square-foot warehouse, for sale with The Barry Company.
The site is located on the east side of the Milwaukee River at the corner of State and Edison streets and sits directly north of the Marcus Center for the Performing Arts.
It is adjacent to a 0.44-acre vacant site owned by the City of Milwaukee. Last year the city issued a request for development proposals for that site, located at 1027 N. Edison St., and received responses from four developers.
But city officials later rejected a proposal by Milwaukee-based Klein Development for a 10-story, $15 million apartment building on the property, saying the site was too small for that project.
The Rojahn & Malaney Wholesale Florist property's downtown location on the river could be attractive to developers, especially since it could also be combined with the city-owned property to create a larger development site.
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The Rojahn & Malaney Wholesale Florist building is located just north of the Marcus Center for the Performing Arts.[/caption]
“This is one of the best – if not the best – development sites in downtown Milwaukee,” said Kurt Van Dyke, senior vice president of The Barry Company. “A prospective buyer could buy both (the Rojahn and city-owned sites) for an acre of land on a very prominent corner.”
The Rojahan family does not have a list price, but is putting the property on the market to see what offers come in, Van Dyke said.
The city assesses the property, which includes the Rojahn & Malaney Wholesale Florist warehouse, at $1.4 million.
Rojahn & Malaney has been in downtown Milwaukee since 1929 and at its current location since 1954.
"Rojahn & Malaney is excited to explore the option of relocating our business," Anthony Rojahn, president of Rojahn & Malaney Company, said in a statement. “This is a fantastic opportunity for our generation to advance the family business and clear a path for continued downtown development.”
Rojahan could not be reached for further comment.