Schlitz Park now 100 percent occupied

A new lease with National General Insurance will bring Schlitz Park, an 800,000-square-foot office complex just north of downtown Milwaukee, to 100 percent occupancy.The New York-based insurer will lease 31,315 square feet in the park's RiverCenter structure, River Center Dr.National General, which will move its workplace from its present downtown location at 501 W. Michigan St., will be the final renter to move into the Schlitz Park complex's$ 6.73 million South RiverCenter renovation project, which included the conversion of former storage facility area into workplace suites.Founders 3 Real Estate Providers'Ned Purtell and Jenna Maguire represented Schlitz Park and Oakbrook Corporation's Chris Richards represented National General."Achieving One Hundred Percent occupancy in a multi-tenant workplace school the size of Schlitz Park is a significant triumph,"stated co-developer Gary Grunau.

"This accomplishment is a testament to the unparalleled buildings, spaces, features and occasions we have actually developed at Schlitz Park all in a setting that honors Milwaukee's past, present, and future."The plan consisted of redesigning the public areas, renovating a number of buildings and including gym, healthy food alternatives and a number of improvements for bicycles.Over the last seven

years, Schlitz Park has signed more than 20 brand-new or broadened leases with renters including the Milwaukee Bucks, UMB Fund Providers, Infosys and AECOM.Several Schlitz Park renters transferred downtown

from suburban workplaces consisting of Badger Alcohol, HSA Bank and Trusted Media Brands.The leasing activity has actually brought 4,200 tasks to Schlitz Park including more than 1,000 brand-new positions to downtown.

Throughout a September interview with BizTimes, while Grunau was undergoing treatment for brain cancer, he stated his dedication to drawing in young,on the Milwaukee River in between theManpowerGroup headquarters and the former Time Warner (now Spectrum) regional headquarters.Schlitz was eventually gotten rid of in early August 2017. Fiserv still has actually not revealed a decision on its headquarters.The Schlitz Park website could still be established for another anchor occupant, Grunau said.The opening of the

Milwaukee Bucks arena and the tram beginning operation later on this year has Grunau excited for the future of Schlitz."The need to be at Schlitz isn't diminishing," Grunau stated."We have a pipeline closely expecting future leasing

chances. Tenants want to be here. More companies desire to move downtown, yet the area is quite well leased up. That means with 100 percent tenancy, brand-new construction is Schlitz Park's next chance."

Source

https://www.biztimes.com/2018/industries/insurance/schlitz-park-now-100-percent-occupied/