Century City I Closed Now Leasing to Industrial Tenants
Completion anticipated November 2015
Century City I. Photo courtesy of General Capital Group.
Milwaukee | General Capital Group announced today that Century City I, LLC completed the purchase of a parcel of land from The Redevelopment Authority of the City of Milwaukee (RACM), and has started construction on Century City I. The Century City I building is a public-private partnership between Century City Redevelopment Corporation and General Capital Group.
Centrally located in the City of Milwaukee, Century City I is a 53,160 square feet flexindustrial building and the first new construction in Milwaukee’s Century City Business Park. The building is highly visible, located on the northwest corner of 31st Street and Capitol Drive. Perspective Design provided architectural services, Sigma provided civil engineering for the developer, and Colliers International will handle leasing transactions and property management. The building will have a striking northern facade with multitone Nichiha panels and a glass corner.
Century City Business Park is an 84 acre site formerly utilized by Tower Automotive and originally built for A.O. Smith Corporation. The Park’s goal is to develop a robust modern business center with energy innovation and manufacturing capabilities working collaboratively with the Mid-West Energy Research Consortium (“M-WERC”).
Immediately Available Century City I supports advanced manufacturing space; the six – 8,860 sf bays are immediately available for lease and can be combined for larger use. The building features 24 ft. clear high bay space and 58 ft. column spacing for maximum flexibility. Nationally recognized manufacturers within immediate proximity include Jonco Industries, DRS Technologies, Clarke Manufacturing, Master Lock, Capitol Stampings Corp and Miller Coors.
Century City I is the newest development in the 30th Street Industrial Corridor and a bright addition to the larger 30th Street Industrial Corridor Economic Development Master Plan which aims to revitalize the area and create jobs. The Corridor is considered the backbone of Milwaukee’s Manufacturing Industry.
General Capital: General Capital is a leading Wisconsin real estate development firm with over 20 years of experience that focuses on creating exceptional projects in urban and suburban neighborhoods. The firm opportunistically develops and manages institutional quality commercial, industrial and residential properties in addition to acquiring value-add real estate assets. Led by a seasoned team of professionals, General Capital prides itself on creating synergies with a multi-disciplinary approach to problem solving. The firm has developed an expertise in government projects as well as complex tax credit, subsidy and specialized financing structures. General Capital emphasizes collaboration with local organizations, governmental entities and community business leaders and has received numerous awards in recognition of excellence in design and development
RACM (Redevelopment Authority of the City of Milwaukee): The Redevelopment Authority of the City of Milwaukee (RACM) is an independent corporation created by state statute in 1958. The mission of the Redevelopment Authority is to eliminate blighting conditions that inhibit neighborhood reinvestment, to foster and promote business expansion and job creation, and to facilitate new business and housing development. The Redevelopment Authority draws upon the Department of City Development for the professional, technical and administrative support necessary to
carry out its mission.
30th Street Industrial Corridor Corporation: The 30th Street Industrial Corridor Corporation (nicknamed The Corridor) is a 20+ year old 501c3 doing economic development in Milwaukee’s central city. The Corridor also manages BID #37, which has over 150 different businesses spread over 880 acres, with many in manufacturing. The Corridor helps businesses to earn greater revenue and to hire people from the surrounding community. Initiatives include: Growing a metal manufacturing cluster of businesses across southeastern WI; continuing work with MMSD, the City and WHEDA
on the Greenway Corridor to mitigate stormwater flooding and to create jobs; and a creative marketing approach for redevelopment opportunities in the area.
Colliers International: Colliers International Group Inc. (Nasdaq:CIGI) (TSX:CIG) is a global leader in commercial real estate services with more than 16,300 professionals operating from 502 offices in 67 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.
For Leasing Information: Jim Larkin or Pat Hake, Colliers International, 414-276-9500, jim.larkin@colliers.com; pat.hake@colliers.com.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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