The operators of downtown Milwaukee’s redeveloping Grand Avenue mall have bought some neighboring office and retail space, and another parking structure.
The 150,000 square feet of commercial space is mainly in the northern portion of the ASQ Center, which is south of West Wisconsin Avenue between North Plankinton Avenue and the Milwaukee River.
Tenants include Planet Fitness, Kahler Slater Architects, Korb and Associates, Alliance for Strong Families and Communities, CBRE Inc.’s Global Workplace Solutions unit, City Year of Milwaukee, AIDS Resource Center of Wisconsin and Visit Milwaukee, said Tom Irgens, vice president of the Irgens development firm.
The $19.9 million purchase included 149 underground parking stalls and a 397-stall parking garage at 555 N. Plankinton Ave., said Irgens. His firm in 2001 joined developer William Orenstein in completing a conversion of the former Marshall Field’s department store into the mixed-use ASQ Center.
That Plankinton Avenue building includes 9,300 square feet of office space leased to Literary Services of Wisconsin, Irgens said Monday.
The sale didn’t include ASQ Center’s namesake headquarters for American Society for Quality, 600 N. Plankinton Ave., or the center’s Marriott Residence Inn, 648 N. Plankinton Ave.
The commercial space, which is 85 percent leased, and parking structure were sold to Hempel Cos. and Interstate Parking LLC, Irgens said.
Hempel and Interstate are led by Josh Krsnak and Tony Janowiec.
They are among the principal owners of Grand Avenue, which is just west of ASQ Center and is connected by a skywalk across Plankinton Avenue.
Neither Krsnak nor Janowiec could be immediately reached for more information about their plans for the properties.
The Grand Avenue is being redeveloped into 50 apartments on the second floor of the Plankinton Arcade, the mall’s historic building on its eastern end; a food hall planned for the street level of the mall’s newer portion on its western end, and offices on the western portion’s upper floors.