WageWorks Moving Downtown

Milwaukee has landed another major employer. WageWorks, a provider of tax-advantaged consumer directed health, commuter and employee benefits, will move their Milwaukee-area office to downtown Milwaukee. The company will lease 37,000 square feet of space on the top two floors of the CityCenter at 735.

“This move will enable WageWorks to streamline operations and accommodate future growth,” said Joe Jackson, Chairman and CEO of WageWorks in a release. “The vibrancy of downtown Milwaukee reflects our culture and values, and we’re thrilled to join this dynamic community.”

The firm will relocate more than 150 employees from Mequon, where it now leases space at 10375 N. Baldev Ct. According to a release from the company, employees in the Milwaukee area work in information technology, relationship management, human resources, customer services and other support services.

The publicly-traded company is based in San Mateo, California and reports that it has 100,000 employer clients and approximately 6.5 million employee participants for its tax-benefit programs. These programs include health savings accounts, flexible spending accounts and health reimbursement arrangements. The company has a market cap of $2.3 billion.

The lease raises the occupancy rate at the former First Wisconsin National Bank Building at 735 N. Water St. to 90 percent. Owned and managed by Compass Properties, the firm rebranded the 103-year-old building in 2011 following substantial restoration work. According to city records the 16-story building includes 385,123 square feet of office space. The building was designed by legendary Chicago architect Daniel Burnham.

Compass Properties Executive Vice President Sheldon Oppermann came before the city’s Historic Preservation Commission last week to secure approval for signage for WageWorks to be installed on top of the building and in a handful of other locations. The sign would measure 48-feet wide by six-feet tall. The commission approved the request.

WageWorks was represented by Cresa-principal Tim Rikkers in their lease negotiations.

“We worked diligently to find a location that offers the benefits of being downtown in a building that complimented their commitment to their employees,” Rikkers said. “We carefully considered many options, and CityCenter emerged as a favorite. The building and location appeals to progressive companies who are looking for an authentic live/work/play experience for their employees.”

If you think stories like this are important, become a member of Urban Milwaukee and help support real independent journalism. Plus you get some cool added benefits, all detailed here.