Journal Sentinel Building To Be Purchased
Plus: Jeffers buys two Walker's Point buildings. And Post Office building lawsuit stalled.
There is currently a contract to buy the city block that the Journal Sentinel building sits on.
Developers Josh Jeffers and Tony Janowiec have signed the contract to buy, Sean Ryan reported in the Milwaukee Business Journal. In the Milwaukee Journal Sentinel, Tom Daykin reported that Andy Fisher, the top business executive for the USA Today network in Wisconsin, said there is a purchase agreement pending for the JS building. The developers still need to investigate the properties conditions before they purchase, which could take months.
The site will likely be redeveloped, and Daykin reported this could be a mixed-use development with the Journal Sentinel building becoming apartments, office space and retail. This would also allow the Journal Sentinel to stay on as a tenant, he noted.
Jeffers Buys Walker’s Point Buildings
Meanwhile, Jeffers and his firm, J. Jeffers and Co., have purchased two buildings in Walker’s Point.
The two buildings, which have a combined 20,800 square feet, are at the corner of S. 6th Street and W. National Avenue, Alex Zank reported in BizTimes. Jeffers reportedly picked up the buildings for $750,000.
One of the buildings, coming in at 14,400 square feet, was previously owned by The Council for Spanish Speaking. And it will be leased back to them under the new ownership. Jeffers also reportedly has plans for redevelopment at the site, which includes the other 6,400-square-foot building.
Postal Service Lawsuit On Ice
Thanks to the federal government shutdown, the lawsuit filed against the U.S. Postal Service has been put on hold because federal attorneys can’t work on the case during the shutdown, Ryan reported in the Milwaukee Business Journal. So a resolution to the dispute with the landlord at their downtown building will have to wait. R2 Companies own the building on St. Paul Ave., and they filed suit seeking eviction of the postal service in September, citing property damage.
123 Room Hotel in West Allis
At their multi-phase, mixed-use project called West Quarter, located along S. 70th St. just north of W. Greenfield Ave., Cobalt Partners is developing a $10.7 million, 128-room, extended-stay hotel. The hotel, called the Home2 Suites, will be five stories and have roughly 77,400 square feet of property along the 1000 block of S. 70th Street, Zank reported in BizTimes. It’s just the first development in the West Quarter project, which is ultimately expected to cost $87 million.
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