Monday, April 13, 2009

The Business Journal of Milwaukee: Virchow Krause looking downtown - Firm could be first tenant in new office building

In this economic climate, it is refreshing to hear how some downtown Milwaukee developments are still moving forward. According to Pete Millard, writer for The Business Journal of Milwaukee, U.S. Bank’s twin tower, called Lake Pointe Tower, is back in the news.

This time, Lake Pointe Tower is under the supervision of a new real estate developer, Hammes Company (Hammes) of Brookfield.

Lake Pointe Tower will be constructed where the existing parking structure now stands for the U.S. Bank Tower at the intersection of Cass and Michigan Streets.

Hammes is currently securing a lease with Virchow Krause & Company of Madison. Virchow Krause is a public accounting firm with their Milwaukee office at the Honey Creek Business Park near the Zoo Interchange. Virchow Krause could become the first tenant in the new tower. The accounting firm is seeking 50,000 square feet for their Milwaukee office.

In a recent Business Journal article, the owner of the Honey Creek Business Park, Geneva Management Services LLC, is lobbying Milwaukee’s Common Council suggesting that they do not provide financial assistance to Hammes to shift jobs from one area of the city to another. According to Hammes, they are not requesting any financial assistance from the city.

According to Millard, Hammes will need to secure at least one or two more office tenants before obtaining the financing needed to move forward with Lake Pointe Tower.

Millard provides additional details regarding Lake Pointe Tower along with the history of the delayed project. Click here to read more about this large-scale downtown development>>>


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posted by David Ray @ 8:51 PM

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