Work resumes on Tosa building; to become surgery center
Journal Sentinel business reporter Tom Daykin talks about commercial real estate and development.
Construction work has resumed on a three-story office building in Wauwatosa after an 18-month stoppage, with plans to create an outpatient surgery center there.
The 60,000-square-foot building, at 2999 N. Mayfair Road, Wauwatosa, is being developed by VJS Development Group, which had initially planned to lease it to Mayfair Radiology. The building is south of W. Burleigh St., and is replacing the former home of radio station WLUM-FM, which was razed.
The $15 million project, however, ground to a halt in the spring of 2008 after Mayfair Radiology was bought by Aurora Health Care Inc. The radiology practice in January 2009 moved into an Aurora facility just south of Mayfair Mall, at 10400 W. North Ave.
Aurora had signed a lease for the Mayfair Road buiding. But work stopped while the health care system studied its space needs to determine what operations would move to the building.
The plan now is to open an outpatient surgery center, along with support services and doctors' offices, by the first half of 2011, said Mary Reinke, an Aurora spokeswoman. The building's exterior work is about halfway completed, and the structure should be enclosed by summer, she said.
The City of Wauwatosa agreed to help finance the building's parking structure. That agreement allows VJS Development to recover up to $1.8 million in property taxes in connection with the project.
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Commercial Real Estate News
Marcus considers downtown tower, cinema
Marcus Corp. is considering preliminary conceptual plans for a large mixed-use development that would feature a downtown Marcus Theatres cinema, as well as housing, offices and restaurants.
The project, called Edison Place, would be developed on 2.25 acres overlooking the Milwaukee River, north of E. Knapp St.
Katie Falvey, Marcus Corp. vice president of real estate, declined to provide details about the plans, which could change.
Check the Milwaukee Assessor’s Office website, which includes tools to look up property assessments.
Find property assessments for other communities throughout the state at AssessorData.org.
The Milwaukee Department of City Development website includes information on the city Plan Commission and Redevelopment Authority.
The Commercial Association of Realtors Wisconsin offers information on commercial realtors and real estate.
The Milwaukee chapter of the Institute of Real Estate Management serves the needs of real estate management professionals
The Wisconsin chapter of the NAIOP Commercial Real Estate Development Association aims to serve developers and owners of commercial real estate.
The Land and Space blog was recognized by the Society of American Business Editors and Writers in the blog category for dailies with circulation between 200,000 to 500,000.
The judges said, "Daykin’s aggressive reporting and accessible, explanatory writing make him a must-read for his tight-knit and highly engaged audience."
