Foxconn Technology Group will buy a seven-story office building in the heart of downtown Milwaukee from Northwestern Mutual and will soon begin setting up office operations there.
Northwestern Mutual on Monday announced the pending sale of its full city block southwest of East Wisconsin Avenue and North Van Buren Street. The two-acre block has the seven-story, 132,806-square-foot office building where Foxconn plans to have employees, but also a large surface parking lot with space for new development, should the company choose. The pending land sale means Milwaukee will get a direct benefit from Foxconn choosing Racine County for its LCD screen manufacturing operations.
“From an investment standpoint, I’d say it’s the best remaining development site downtown,” Northwestern Mutual vice president of real estate Tom Zalesaid of the property.
Remember that most of the Democratic candidates for governor have said that they will roll back the Foxconn deal if they are elected.