Milwaukee-based Weas Development has withdrawn from negotiations with Madison-based Baker Tilly Virchow Krause LLP and Milwaukee-based Von Briesen & Roper S.C., according to commercial real estate sources. Both firms were considering plans to move their Milwaukee offices to a proposed 15- to 17-story building planned by Weas Development southeast of Broadway and East Michigan Street in downtown Milwaukee.
Weas Development still plans to pursue the project, but will seek other tenants, sources said.
Weas Development president Doug Weas could not be reached for comment.
For several months Baker Tilly and Von Briesen have considered plans to move their Milwaukee office to a new building downtown. Acting separately, both firms narrowed their search to two projects: the Weas Development project and Washington Square, a 22- to 26-story tower proposed by Irgens Development Partners LLC and Van Buren Management Inc. at a site southeast of Mason Street and Jefferson Street.
Executives for Baker Tilly and Von Briesen could not be reached for comment. Baker Tilly is seeking about 65,000 square feet of space. Von Briesen is seeking about 75,000 square feet.
Now that Weas has pulled out of the negotiations, Baker Tilly and Von Briesen are likely considering two options: stay in their existing locations or move to the Washington Square project. Other office building proposals in downtown Milwaukee have attracted less interest from Baker Tilly and Von Briesen, according to sources.
Baker Tilly’s Milwaukee office is currently located in the Honey Creek Corporate Center at 115 S. 84th St. on Milwaukee’s west side.
“We have not heard from them whether they are staying or going,” said Steve Pape, director of brokerage for Madison-based Greywolf Partners Inc., which owns Honey Creek Corporate Center.
Von Briesen & Roper’s headquarters is currently located at 411 E. Wisconsin Ave. in downtown Milwaukee. The firm has not made a decision yet about its future plans for its headquarters, said The Boerke Co. principal Terry McMahon, who is representing the firm in its office space negotiations.
Irgens executive director Jaclynn Walsh said Baker Tilly and Von Briesen executives still have not indicated what they plan to do with their Milwaukee office locations.
Irgens and Van Buren Management are hoping to get a second major tenant to commit to the Washington Square project. In January, Godfrey & Kahn S.C. announced that it has signed a lease to be the anchor tenant in the building and will move its office there form its current downtown location in the M&I Bank headquarters building at 780 N. Water St. Godfrey & Kahn will occupy 90,000 to 100,000 square feet of space in the Washington Square building.
