Schlitz Park expecting continued expansion with more long-term tenants
Schlitz Park announced recently that long-term tenant Independent Care Health Plan (iCare) plans to expand its RiverCenter building location with a new suite measuring nearly 14,000 square feet.
Construction is expected to begin this month with occupancy expected in early September. The expansion brings iCare’s total Schlitz Park square footage to nearly 50,000 square feet and follows the announcement last month that HSA Bank will also expand its Schlitz Park location.
“iCare has experienced significant growth, especially in the past five years, and is repeatedly named one of Milwaukee Top Workplaces,” said Gary Grunau, Schlitz Park’s co-developer. “It’s a Schlitz Park tenant making a difference in our community and making a difference in its industry.”
With over 30,000 members, iCare is a national leader providing managed care insurance coverage to persons with disabilities and low income individuals. The provider first moved into Schlitz Park in 1999 at 1555 N. Rivercenter Drive. Today iCare has more than 300 employees in five Wisconsin offices that serve 44 counties. About 270 of those employees work in Schlitz Park. iCare’s expansion will provide additional capacity to support employee and membership growth.
“Schlitz Park’s centralized location, free parking and safe environment all enhance member accessibility to staff and aid in employee recruitment,” said iCare President Chief Executive Officer, Tom Lutzow. “Schlitz Park has been quite innovative. The complex has gone out of its way to create excitement and not just space. It’s an activity center, not just a rental property.”
The iCare expansion is one of several existing and new leasing announcements Schlitz Park expects to make this summer as it works toward reaching 100 percent occupancy.
Founders 3 Real Estate Services’ Ned Purtell, partner, and Jenna Maguire, broker associate, represented Schlitz Park, and The Boerke Company, Inc.’s Jack Price, principal, and Darrell Fischer, real estate advisor, represented iCare in negotiating its expansion.
More than 4,200 employees work in Schlitz Park, home to major Milwaukee organizations including US Bank, UMB Fund Services, Aurora Health Care and others that provide financial services, health care, employment, education, technology and other important services. Schlitz Park is owned and managed by The Brewery Works, Inc., the organization formed by the families that purchased the Schlitz Park property in 1983.