10000 Innovation Acquisition
Irgens formed a joint venture with MCW to acquire this building after the previous occupant decided to downsize its corporate headquarters and divest itself of this real estate holding. The Irgens joint venture was able to successfully compete against other investment groups for the property and once it was acquired, the team was able to negotiate a sale/leaseback arrangement with the seller within a tight timeframe. MCW leased approximately 80,000 square feet and Irgens, an equity partner in the sale, leased the balance of the space in the building to other complementary firms.
In 2007, Irgens formed a new LLC to repurchase the property from the Medical College. Current tenants remain in the building and to meet the increasing demand for additional Class A commercial office space in the Milwaukee County Research Park, Irgens completed a 65,735 square foot “winged” addition to the property and renovated the building’s common areas. Building features include a café that serves breakfast and lunch, a grand lobby and shared education/conference rooms.
“Irgens listened to our project goals, responded appropriately and efficiently with follow-up, and streamlined the process of property acquisition and initial development.”