Irgens Announces the Purchase of Park West I in Madison

01.06.2011

MilwaukeeIrgens, a full-service real estate solutions firm, announced today the acquisition of the 51,000 square foot Park West I building in Madison, Wis. The multi-tenant commercial office building is located at 406 Science Drive in Madison’s University Research Park.

 

“Our team is continually looking for acquisition opportunities that meet our strict criteria for investment,” said Mark Irgens, CEO/President and Manager of Irgens. “Park West I stood out as having significant potential and we are pleased we were able to add this important property to our growing portfolio.”

 

Irgens will make a substantial capital investment into the building and add management and ownership stability to the project. Deferred maintenance items will be addressed and some of the building’s mechanical components will be replaced to increase efficiency and achieve operational cost savings.

 

The building’s premier location in Madison’s University Research Park was a selling point for Irgens.

 

“We’re thrilled about the new, stable ownership in Park West I,” said Mark Bugher, director of University Research Park. “Irgens is a high quality owner and operator of real estate and this is a key building for us in the Park due to its gateway location on Whitney Way and Mineral Point Road.”

 

Irgens has teamed with Grubb & Ellis | Oakbrook to market and lease space in the building. For information on the planned improvements and current leasing options, contact Mark Winter at 608.238.2600 or e-mail him at mwinter@oakbrookcorp.com.

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