пятница, 27 июня 2008 г.

Office Building Proposed for Pewaukee

A 97,000-square-foot office building has been proposed for Riverwood Corporate Center business park in the City of Pewaukee. Quadrangle Realty Services is seeking Plan Commission approval for the building, which would be nearly identical to a 96,715-square-foot building developed by Quadrangle at Riverwood. The business park is north of I-94 and west of Highway J. "For all intents and purposes, it's the same building," said Michael Faber, of Quadrangle. The first building, known as One Riverwood Place, was completed in June 1999 and is about 70 percent occupied. Its anchor tenants include McLeod USA, which has 16,000 square feet, and Cisco Systems Inc., which has around 13,700 square feet. Quadrangle sold the building to Great Lakes REIT Inc., an office building real estate investment trust based in Oak Brook, Ill., in December for $9 million. Great Lakes owns several other Milwaukee-area office buildings, include the Milwaukee Center Office Tower downtown. The success of the first building demonstrates the continued strong demand for high-quality office space in the western suburbs, Faber said. Construction of the newly proposed building, named Two Riverwood Place, could begin by June once city officials approve the project, Faber said. The building would be completed within 12 months, he said

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