Create a master plan and initiate development of an environmentally sensitive office park for use by the employees of Strong Capital Management, a privately held financial services firm. The 220-acre parcel adjoined the company’s headquarters, which was surrounded by views of the beautiful Menomonee River Nature Reserve.
During the initial planning phases of the park, we served in a development management role focusing on the site master plan, developing road infrastructure, storm drainage, ponds, landscaping and negotiating tax and economic incentives with the county. The development team ultimately created a strategic master-plan that encompassed 11 parcels, and unlike high-technology business parks, concentrated on a low-rise density plan for corporate use.
Working with the village of Menomonee Falls, the team had the site designated as a TIF district. This enabled the development entity to use incremental property taxes to fund infrastructure improvements and reduce Strong’s capital commitment.
Assuming the role of turnkey developer, we formed a joint venture with Strong Capital Management and took full responsibility for developing the first building in the park—a 100,000 SF Class “A” office building, which we leased back for a 20-year term.