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Experience » Commercial » Build-to-Suit » GE Healthcare

GE Healthcare Research Park

Wauwatosa, Wisconsin
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.”

Joe Hogan | GE Healthcare