Zimmerman Architectural Studios Inc. plans to purchase four buildings, including its own headquarters and the City Lights Brewing Co. building, according to Milwaukee Economic Development Corp. documents.
The firm plans to buy the properties located at 2215-2122 W. Mt. Vernon Ave. in Milwaukee’s Menomonee Valley, which consist of office, manufacturing and warehouse space, for $7.4 million, according to MEDC.
Zimmerman occupies 53% of the total 82,000 square feet it seeks to acquire. It employs 98 full-time and 11 part-time workers. The firm is seeking a roughly $1.4 million loan from MEDC to assist with the purchase. The MEDC loan committee is considering the request on Wednesday morning.
Doug Barnes, principal with Zimmerman, said his group likes the location of its office in that it’s in a central area of the city, but also offers free parking to employees and clients.
“The opportunity came to buy the buildings and we looked at it as a great opportunity to reinvest in the area and reinvest in the city,” Barnes said.
The former Milwaukee Gas Light Co. buildings are among a dozen properties recently listed for sale by the Giuffre brothers, who are in the middle of a legal dispute over how to divide and untangle their business interests.
Brothers Frank and Dominic Giuffre own crane-rental company Giuffre Bros. Cranes Inc. and Mallory Properties, which specializes in buying distressed commercial and industrial buildings and transforming them into marketable properties.
In all, those properties have a total approximate value of $24 million and account for more than 856,000 square feet.
