Last updated on May 15th, 2019 at 04:52 pm
Milwaukee-based Zilber Property Group has been working with an unidentified company for several weeks on what could become Germantown’s largest industrial real estate development.
Chad Navis, director of industrial investments with Zilber, spoke briefly during a Village Board meeting on Monday about the 700,000-square-foot project, which would be built at Holy Hill Road and Interstate 41. Navis was accompanied by Michael Kleber, director of leasing with Zilber Property Group. The two declined to name the client they are working with on the project.
The discussion was held as the Village Board approved a $5,700 feasibility study with accounting firm Ehlers Inc. to create a tax incremental financing (TIF) district for the project. The amount of public money that will be used to fund the project was not discussed.
Zilber representatives used the meeting as an opportunity to introduce themselves and talk about some of the other large-scale industrial projects the company has worked on including Lilly Creek Business Park in Menomonee Falls.
On April 2, Germantown village administrator Steve Kreklow first told the Village Board an unnamed company was working with an unnamed developer on a potential development. Kreklow did not give further details at that time.
Kreklow was also careful to not reveal many details on Monday night.
“We appreciate the questions but we are trying to walk a tightrope,” Kreklow said. “We are trying to be as open and transparent as we can but also understand the need of the developer to maintain confidentiality on their end with the potential end user.”