Downtown Milwaukee could soon be the home to another company relocating from the suburbs.
San Mateo, California-based WageWorks, an administrator of consumer-directed benefits, is considering plans to move its office from Mequon to downtown Milwaukee, according to numerous sources. The company has been in the market for new office space in the area for several years and will make a decision within the next month, a source said.
“They are looking at possible relocation from Mequon,” said Tim Rikkers, principal of Cresa in Madison, who is the broker representing WageWorks. A representative for the company could not immediately be reached for comment.
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Rendering submitted to the city.[/caption]
WageWorks, which employs at least 200 people in its Mequon office, would lease between 40,000 and 60,000 square feet.
The company may ultimately decide to stay put in Mequon, Rikkers said.
However, local commercial real estate brokers say the company has looked at numerous possible downtown locations including Schlitz Park, The CityCenter at 735 and 330 Kilbourn, formerly known as Plaza East.
The company’s lease at 10375 N. Baldev Court in Mequon expires in August 2018, one source said.
A rendering submitted to the city of Milwaukee depicts a WageWorks sign on top of the CityCenter at 735 building. However, Rikkers said a lease has not been signed.
“They are just looking at signage options,” Rikkers said. “My guess is something will be more concrete in a month.”
If WageWorks does move downtown and bring 200 people into the city, it would be the latest in a growing list of companies that in recent years have moved offices from the suburbs to downtown. Some of those include Brookfield-based Hammes Company, which is currently building a new headquarters in downtown Milwaukee and Fond du Lac-based Badger Liquor recently moved 100 office workers from West Allis to the Schlitz Park complex. Earlier this year, Brookfield-based marketing firm Bader Rutter moved to the former Laacke & Joys site.