Irgens Acquires Brookfield Property
Milwaukee – Irgens, a full-service real estate firm headquartered in Milwaukee, is pleased to announce the acquisition of Bluemound Crossings (formerly referred to as the Liberty Property Trust Center) in Brookfield, Wis.
Located at 16620-16650 Bluemound Road, Bluemound Crossings is situated in one of the state’s most active retail and commercial corridors. The two single-story office/medical buildings totaling 49,062 square feet offer a premier location and visibility for both tenants and guests, were built with quality construction and maintain a great tenant mix. A variety of prominent local and national restaurants, as well as retail shopping surround this office center.
“We were able to acquire this asset below reproduction cost. In turn, we’ve positioned the project to be able to extend this value to prospective tenants by offering competitive lease rates below market. Improvements and upgrades to the building and property will further enhance the appeal of this property,” said Jason Luther, Vice President of Irgens and manager of the Bluemound Crossings acquisition.
Irgens will make renovations throughout the property including updates to the common area corridors and restrooms, electrical/lighting and HVAC systems to be more energy efficient and to comply with EnergyStar practices. Exterior updates beginning in the spring of 2009 include significant landscape enhancements, repair to the brick facade, and parking lot repair. Irgens will also apply for Green Globe certification from the Green Building Initiative for the property once renovations are complete. Green Globes recognizes achievements in selecting ways to minimize the building’s environmental impact and ensuring that the building’s indoor environment is healthy and comfortable.
“Not only is energy management good for the environment but it can produce significant savings for our tenants through lower operating expenses further differentiating our project from competitive available space in the market,” explained Jason Luther, Vice President and manager of the Bluemound Crossings acquisition.
Irgens is offering 1,325 – 12,804 square feet of Class A office spaces for lease. Please contact Tim Nelson, CCIM at 414.443.0700 for more information.