Industrial Building Planned For Far Northwest Side
Luther Group developing new building in Park Park business park.
A new industrial building is planned for Milwaukee’s far northwest side across from Dretzka Park.
“I think it is a unique location and compelling location given its access to [highways] 41/45 and still being in the city of Milwaukee,” said Jason Luther in an interview.
A property listing with The Barry Company notes the build-to-suit building would offer 28-foot ceilings and easy access to Interstate 41. The 163-feet by 550-feet building would be divisible with the minimum leasable space covering 16,300 square feet. A total of 16 loading dock doors and 126 surface parking stalls are planned.
Luther said the light industrial building is well-suited for buildings looking for distribution space.
“We are talking with a number of tenants that are in the market,” said Luther. He said the company could ultimately proceed to develop the building without first securing a tenant.
The listing brochure offers the space for $5.45 per square foot through a triple-net lease that would require the tenant to additionally pay property taxes, building insurance and maintenance.
Through an affiliate, Luther Group acquired the 14.87-acre property in 2018 for $5.59 million. The new building site would be formed from an undeveloped six-acre portion at the rear of the lot with a driveway on the property’s eastern edge.
Allume Architects is designing the new building.
Luther Group acquired the one-story office building, 11700 W. Lake Park Dr., immediately south of its proposed new building in January 2020 for $225,000. The company now leases the property to Mindful Staffing Solutions.
A half-mile west of the proposed new building a new hotel is proposed.
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