A local development firm acquired an office building at the Milwaukee County Research Park, with plans to update the building.
The development firm Irgens Partners LLC purchased 10701 Research Drive, a five-story, 130,000-square-foot office building, which lies at the intersection of Mayfair Road and Research Drive in Wauwatosa, for $9.5 million.
“The property will be designed to reimagine the suburban workplace experience as returning employers seek a new, healthy and sustainable environment,” a press release said.
The building, which was built in 1995, was the first building built as part of the Milwaukee County Research Park.
Improvements to the building will include new common area finishes and a “distinctive amenity package.”
“The large, flexible floor plates will be custom-designed and constructed for future occupiers. This also offers a rare full building opportunity for a single user,” the release said.
“The acquisition of this premier property is indicative of our continued belief in the strength of the Research Park and immediate area,” Tom Irgens, executive vice president of Irgens, said.
Irgens also plans to build a two-story, 53,000-square-foot office building at the UWM Innovation Campus in Wauwatosa, as well as a six-story, 197,000-square-foot office building, along with a two-story parking garage.