Madison-based Wisconsin Bank & Trust will open an office in downtown Milwaukee.
The bank, a subsidiary of Dubuque, Iowa-based HTLF, will open an office later this year at 789 N. Water St. It is leasing 4,491 square feet on the building's fourth floor, according to a news release.
The lease represents a new office location for the bank, which has several locations in the southeast Wisconsin region, the release states. The Wisconsin Bank & Trust website lists branches in Glendale, Plymouth, Sheboygan and Sheboygan Falls. Other locations include the Madison area, Green Bay, Monroe and Platteville.
Representatives of Wisconsin Bank & Trust and HTLF did not immediately respond to requests for comment.
The 73,250-square-foot, five-story downtown building is owned by an affiliate of Milwaukee-based The Druml Co.
Druml bought the building last fall for $6.25 million and is working with Milwaukee-based Kahler Slater to make full-scale renovations.
Renovation work will include main lobby upgrades, reconfiguring the first-floor tenant access, updated common area corridors, a tenant fitness area with locker rooms and showers, a common conference room and a tenant kitchen space. A cost estimate was not provided.
“We look forward to welcoming Wisconsin Bank & Trust to a new and improved 789 N. Water later this year,” Dan Druml, owner of The Druml Co., said in a statement. “We are excited to have the opportunity to renovate a building in one of Milwaukee’s best locations and bring a modernized and enhanced office product to market.”
Jenna Maguire and John Davis of Founders 3 represented Druml in the lease.
Approximately 70% of the building is occupied following the Wisconsin Bank & Trust deal, according to Founders 3.
The building has a full floor available for lease totaling 16,000 square feet. The space was vacated by Heartland Advisors Inc. in 2019 following its move across the street to the BMO Tower, at 790 N. Water St. There are also several smaller spaces available on the fourth floor.
“We have seen an uptick in inquiries and activity downtown over the past few weeks,” Maguire said in a statement. “We are excited to show prospective tenants the renovation of 789 N. Water.”