GE Healthcare Research Park
After a competitive regional search for a new site to locate three GE Healthcare divisions, the company selected Irgens’ proposal for a new, 506,195 square foot building to be developed and owned by Irgens on a 25 acre land site. Irgens was able to successfully compete for the project because the team was able to assemble and offer a creative and complicated financing package that included a long-term ground lease, a first mortgage conventional loan, a second mortgage through the city, private equity, Tax Incremental Financing and New Markets Tax Credits. The building was completed and designed to be a premier showplace for the client’s innovative products and services. Several years later, Irgens sold the property to a high-quality institutional investor. The sole tenant, GE Healthcare, continues to hold a long-term lease.
“Our new venture in the Research Park allows us to develop even deeper capabilities in medical technologies, which will service our customers in Wisconsin and around the world.”