BizTimes Milwaukee | November 16, 2015 by BizTimes Media

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UGLY DUCKLING

CHICAGO DEVELOPER PLANS TO TURN DOWNTOWN POST OFFICE INTO A SWAN

ALSO IN THIS ISSUE:

MILWAUKEE AREA CRE MARKET IS ATTRACTING NATIONAL INVESTMENT NORTHWESTERN MUTUAL’S PROPOSED RESIDENTIAL TOWER ONE OF MANY IN ITS PORTFOLIO CARW MEMBERS REMAIN BULLISH

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inside

November 16 - 29, 2015 HIGHLIGHT S

S P E C I A L R E P O R T:

COMME RCI A L R E A L E S TATE & DE V E LOPME NT

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In addition to the cover story, coverage includes a look at Northwestern Mutual’s apartment tower development plans for downtown, the results of the annual CARW member survey, a preview of the upcoming BizTimes Milwaukee Commercial Real Estate & Development Conference and a look at the winning Lakefront Gateway project.

Johnson Controls board stands behind CEO, despite personal issues.

Social Media Strategies

Avoiding a topical storm.

Coffee Break

A conversation with Melissa Perez, co-owner of Stone Creek Coffee.

Political Beat

Ryan positioned to lead entitlement reform.

Northwestern Mutual apartment tower development rendering

On the Money

Understanding and valuing S Corporations.

S TR ATE GIE S Leadership Karen Vernal 33 Human resources 34

NORTHWESTERN MUTUAL

Daniel Schroeder

COV E R S T ORY

Ugly duckling Chicago developer plans to turn downtown post office into a swan ON THE COVER: Downtown Milwaukee post office complex. — photo by Shelly Tabor

Family business Next generation

David Borst 36 Aleta Norris 37

BIZ CONNECTIONS Nonprofit Directory Spotlight 40 Personnel File 41 Glance at Yesteryear 44 BizTimes Around Town 45 The Last Word 46

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Founded in 1995, BizTimes Milwaukee provides news and operational insights for CEOs, presidents, owners and other top level executives at companies in southeastern Wisconsin (Milwaukee, Waukesha, Ozaukee, Washington, Racine, Kenosha, Walworth and Sheboygan counties). Subscription Customer Service: BizTimes Milwaukee, 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120, USA, Phone (414) 277-8181, Fax (414) 277-8191, circulation@biztimes.com, www.biztimes.com

BizTimes Milwaukee (ISSN 1095-936X & USPS # 017813) Volume 21, Number 17, November 16 - 29, 2015. BizTimes Milwaukee is published bi-weekly, except two consecutive weeks in December (the third and fourth weeks of December) by BizTimes Media LLC at 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120, USA. Basic annual subscription rate is $42.00. Single copy price is $3.25. Back issues are $5.00 each. Periodicals postage paid at Milwaukee, WI and additional mailing offices. POSTMASTER: Send all UAA to CFS. NON-POSTAL AND MILITARY FACILITIES: send address corrections to BizTimes Milwaukee, 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120. Entire contents copyright 2015 by BizTimes Media LLC. All rights reserved.

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Johnson Controls board stands behind CEO, despite personal issues

lendale-based Johnson Controls Inc.’s board of directors says chief executive officer Alex Molinaroli’s involvement with a Ponzi schemer has no relevance to the company. Molinaroli was listed in West Palm Beach, Fla., court transcripts as one of a large number of investors who loaned money to Joseph P. Zada of Grosse Pointe Shores, Mich. Zada was found guilty in September of 15 counts of mail fraud in a $50 million Ponzi scheme that spanned 10 years, according to a Molinaroli press release issued by the Southern District of Florida United States Attorney’s Office. The court transcripts state Molinaroli gave Zada “millions of dollars” since 2006 and also that Zada lived in a Michigan mansion owned by Molinaroli. Despite his connection to Zada, the JCI board of directors expressed confidence in the CEO. “The board is confident that Alex Molinaroli’s involvement in the Zada case is an unfortunate personal matter

that has no relevance to Johnson Controls,” said Bill Lacy, a Johnson Controls board member (and former CEO of MGIC Investment Corp.), in a statement. “Alex has the board’s full support as chairman and CEO. Under his leadership, the company has delivered strong operating results while simultaneously undergoing a strategic transformation designed to drive future growth.” “Like many others, Mr. Molinaroli was a victim of Zada’s scheme, not an accomplice,” added Fraser Engerman, director of global media relations for Johnson Controls. “He has not benefited from it in any way. While Zada may have utilized some funds from Molinaroli’s loans to support his legal defense, it was always Molinaroli’s hope that this would ultimately facilitate repayments to all victims – including himself. As with the other unfortunate victims in this matter, Mr. Molinaroli continues to hope but no longer expects he will recover his losses.” This is not the first scandal involving Molinaroli since he became CEO of Wisconsin’s largest public company in 2013. He was found to have failed to comply with the company’s ethics policy in

late 2014 when he engaged in a relationship with a consultant for the firm. As a result, his fiscal year 2014 Annual Incentive Performance Program payment was reduced by 20 percent. At a recent public speech in Milwaukee, Molinaroli declined to address his “personal issues.” Molinaroli has undertaken a massive overhaul at the company. Over the past two years, Johnson Controls has sold its $3 billion automotive electronics business to Visteon Corp.; sold its HomeLink business to Gentex Corp. for about $700 million; entered a joint venture with SAIC’s Yan-

feng Automotive Trim Systems Co. Ltd. for automotive interiors; acquired Hart & Cooley Inc.; entered an air conditioning joint venture with Hitachi Appliances Inc.; sold its Global WorkPlace Solutions unit to CBRE Group Inc.; and announced plans to spin-off its automotive business from the rest of the company. The yet-to-be-named spin-off company will be based in Milwaukee, he said. The change in the company has been dramatic, Molinaroli said, and employment has gone from 172,000 when he took the reins to 130,000 today.

——Hilary Dickinson and Molly Dill

SOCI AL M E D I A S T R AT E GI ES

Avoiding a topical storm It used to be difficult to keep up with the latest fashion trends, which changed, at most, with the seasons. These days, trends on social media come and go within hours. And for a business, being topical carries both great risk and great reward. How do you minimize risk? Before you hit the publish button, ask yourself three questions: Do I know the topic’s backstory? Before you “hashtag surf,” know the meaning of the trend and how it started. Too many brands have skipped this step and created horror stories by accidentally inserting themselves into conversations about domestic violence or a criminal trial. If you discover that a trend is sensitive, could alienate someone, or could be misconstrued, the risk is probably greater than any reward. 4

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Is this relevant to your brand/something that your followers will understand? If you’re jumping on the trend for the sake of looking “hip” or for publicity, rather than having a legitimate tie-in, re-evaluate. For example, it made sense for many restaurants to tie into McDonald’s #AllDayBreakfast trend, but for us at the Brewers, it wasn’t a fit. On the flipside, when the hashtag #DebateWithBernie came up during the October Democratic Presidential Debate, it left a natural opening for our beloved mascot to chime in for fun. You will also want to make sure the trend resonates with your followers. Is this timely enough? Speed is everything. There is a certain window in which posting related to a trend is worthwhile and, after that window has closed, you just look like you’re copying others.

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To increase your chances of leading trends in the future, monitor your social media channels for top trends. You could also consider setting up a system internally in which any staff can submit content ideas. That way, the next time the #MKELion appears, you’ll be prepared.

——Caitlin Moyer is director, new media, for the Milwaukee Brewers Baseball Club.

leading edge COFF E E B R E A K

POLITIC AL BEAT

Ryan positioned to lead entitlement reform

What was the smartest thing your company did in the past year? “We moved our organization from a stereotypical hierarchical structure to a team-based structure.”

What’s new at your company? “We have a new website. You should check it out and then let me know what you think. It’s a living breathing thing to me, and so I am constantly tending to it to help it grow.”

Do you plan to hire any additional staff or make any significant capital investments in your company in the next year? “Absolutely.”

humble, empathetic and intense individual I have ever met. I first learned about Game Theory in graduate school at the University of Michigan. Eric is one who practices it, as well as teaches it to us, as it applies to business. He also demonstrates when not to use it if it at all hinders the self-preservation of long-term happiness.”

What was the best advice you ever received? “Own your ‘no’ to save yourself from wasting time.”

What’s the funniest thing that ever happened to you in your career?

“In addition to my role at Stone Creek, I’m also a user experience (UX) consultant for Gomoll What will be your company’s main Research + Design. In the UX field, you conchallenges in the next year? duct a lot of interviews, you talk endlessly with “Improving every touch point of our customers’ many, and you travel a lot to do field research. user experience.” There are many surreal moments, and so you look for the bizarre, the odd and the interesting. What’s the hottest trend in your industry? You collect them. You can’t help yourself if you “Transparency. This really isn’t new to food do UX. There was this one time I had two very with the ‘Farm to Table’ movement, but as a different clients. I found society, we are questioning myself stomping through where everything is coming deep mud and wet, grassy from – and that’s a great fields doing research for a thing! To understand the handheld device that provenance, as well as the measured water. I was a process to get your coffee mess! The very next day, I into your hands, is to truly flew to San Diego to appreciate the human interview a doctor about his connections of our experience using industry. You simply software in this comcannot make any pletely gorgeous and long-term positive modern research lab. I change (economic and/ was wearing a pristine or quality of end prodlab coat and everything uct) without this knowllooked futuristic. It is the edge. Stone Creek calls 180 (degree) juxtaposithis ‘Farm to Cup.’” tion that I find funny and surreal.” Melissa Perez Do you have a Director of digital experience, business mantra? What do you like to co-owner “Never stop learning.” do in your free time? Stone Creek Coffee “I enjoy traveling a lot 422 N. Fifth St., Milwaukee From a business with my family. My www.stonecreekcoffee.com standpoint, who do husband and I enjoy fly Industry: Coffee roasting you look up to? fishing together. I also Employees: 119 “Our company’s co-ownbinge-watch anime Family: My husband and two boys, er, Eric Resch, hands when I have a rare ages six and three down. He is the most indulgent moment.” w w w.biztimes.com

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BY MATT POMMER, special to BizTimes

Social Security and Medicare changes could become key election topics next year, with Rep. Paul Ryan of Janesville now leading Republicans as speaker in the House of Representatives. Republican conservatives are demanding changes in America’s entitlement programs – Social Security, Medicare and Medicaid. Ryan has long been pushing to change those programs where Ryan much of government spending occurs. Ryan has backed the idea of partially privatizing Social Security. On Medicare, he is seen as a person who could promote the conservatives’ idea of converting Medicare to a program in which recipients get vouchers and then buy their own health insurance. Medicaid – the state-federal medical program for the poor – may offer an easier solution for the folks in Washington. The federal government could solve its own budget woes by sending grants to the 50 state governments and letting them devise care for the poor and disabled. If additional money is needed, state tax dollars could fill the gaps. Proponents say state governments are better at solving social problems. In addition, Social Security already has bubbled up in next year’s race between Republican Ron Johnson and Democrat Russ Feingold, who are competing for a sixyear term in the U.S. Senate. Johnson won the Senate seat in 2010 by defeating Feingold as part of the Tea Party election landslide. Feingold had served 18 years in the Senate, but once-defeated ex-incumbents rarely are returned. Johnson has called Social Security a “Ponzi scheme” and has said it’s a shame that it has not yet been privatized. Feingold champions the current Social Security program as he campaigns across the state. Matt Pommer is the “dean” of Capitol correspondents in Madison. His column is published with permission from the Wisconsin Newspaper Association, but does not reflect the views or opinions of the WNA or its member newspapers.

BY TH E NU MBERS

1.5%

The U.S. gross domestic product increased 1.5 percent in the third quarter, down from a 3.9 percent GDP increase in the second quarter. B i zT i m e s M i l w a u k e e

leading edge ON TH E C ALEN D AR

MA DE I N M I LWA U K E E

Reich Tool & Design stays innovative after 50 years

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DEC

Reich Tool & Design Inc. recently celebrated its 50th anniversary, and one of its keys to success over the past half century has been diversification. Following some tough times brought on by recessions and 9/11, the second-generation, privately-held manufacturing company came up with a diversification business plan and implemented cross-training. “We keep a good, strong company being diversified between our customer base and our core competencies,” said president Fritz Reich. According to Reich, RTD and its sister company, Trinity Biomedical Inc., have three core competencies. “Our roots – and still it’s the largest portion of what we do – is we design and build metal stamping dies for many, many industries,” he said. “Number two, we do contract machining, again, for many industries. And the third is our medical cleanroom, where we support the medical device industry.” Trinity Biomedical was formed in 2008 and resides in the same Menomonee Falls location as RTD. The companies service many industries, including appliance, medical and aerospace. In fact, in 2007, RTD received aerospace contracts from NASA. RTD was started by Fred and Judy Reich in 1965 in a 500-square-foot rented shop in Butler. In 1999, their sons took over the leadership, with Fritz Reich becoming president and Brett Reich vice president. Today, RTD and Trinity Biomedical are located in a 52,000-square-foot “RTD Innovation Center” that opened in 2007. Fritz said the square footage of the building, which sits on 44 acres, is capable of nearly doubling, and it may undergo a full expansion within the next five years to accommodate future growth. RTD’s revenue has grown 15 percent per year for the past 10 years, with its biggest growth year in 2006 with 37 percent. The growth is due to high quality work and long-term relationships with customers. Next year, the Reichs are anticipating an increase in revenue of 15 to 20 percent. They predict this growth to occur because of the addition of a sales and marketing director and the investment in more than $1 million worth of new equipment in the past year. “We can only grow as fast as we pick up people,” Fritz said. “In the past, if you got work you’d buy equipment and you hire people. Now, you have to try and find people, and if you find people then you buy equipment and the work will be there. We’re doing it the opposite of anything we ever did.” RTD and Trinity Biomedical’s clients are from all over North America and are mainly OEMs and contract manufacturers. RTD has about 63 employees, and is currently hiring for half a dozen positions. Trinity Biomedical has five employees. The companies operate on two shifts, and all of their products are “very customized.” For metal stamping, employees receive prints and solid models of parts that need to be mass produced by customers. Then they design and build stamping dies to produce the parts, and the customers run the dies in production stamping presses.

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Health Care Heroes

ABOVE: Reich Tool & Design employee Jason Woiak sets a tool in a CNC machine. BELOW: Mike Fiduccia makes an adjustment on Reich Tool & Design’s new Swiss turning machine.

BizTimes Media will host its annual Health Care Heroes Awards breakfast program on Friday, Dec. 11, at Potawatomi Hotel & Casino, 1721 W. Canal St. in Milwaukee. The program, sponsored by GE Healthcare, honors individuals in southeastern Wisconsin who are making a difference for patients, families and staff in health care. Nominations were submitted by the public and vetted by BizTimes Media. For more information or to register, visit www.biztimes.com/hero.

For a complete listing of all area events, visit the Calendar section of our website.

www.biztimes.com/events

BOOK REVIEW

“Architects of Change: Practical Tools to Build, Lead and Sustain Organizational Initiatives” Reich Tool & Design Inc. W175 N5750 Technology Drive, Menomonee Falls Industry: Die making and contract machining Employees: 63 www.reichtool.com The contract machining and Trinity Biomedical manufacturing processes are similar in that they both receive prints and models from the customers, order the materials, computer program the machining paths and machine them using CNC mill/turn machines, wire EDMs (electrical discharge machines), waterjets, and/or utilize cleaning, passivation, assembly and packaging in the medical cleanroom. Fritz said the people and culture of the companies are what sets them apart from their competitors. “Our people are happy and proud of what they do,” Fritz said. “We’re a family company, and we certainly care about our people.”

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Hilary Dickinson covers manufacturing for BizTimes Milwaukee. Email her at hilary.dickinson@biztimes.com or call her at (414) 336-7123. n

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Introducing change to an organization while applying your own leadership skills and keeping waste to a minimum is a delicate balancing act and one that Jim Bohn, Ph.D., aims to figure out in his book, “Architects of Change: Practical Tools to Build, Lead and Sustain Organizational Initiatives.” As a leader, you know change is constant, and you want to do it right. To ensure your organization has a leadership team skilled in this area, here is a fast read and a howto manual to help leaders achieve the changes they want in an organization. Using examples that any leader can relate to, Bohn simplifies a complex topic into a usable playbook for getting things done. In a business world where the only thing constant is change, Bohn offers tips and hints for architecting meaningful changes that stick. “Architects of Change” is available on www.800ceoread.com for $24.95.

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——Corrinne Hess

leading edge NON P RO F IT N E W S

THE GOOD LIFE

Keegan to retire from Art Museum

Polka, Polka, Polka!

Milwaukee Art Museum director Daniel Keegan will retire in May after eight years of leading the cultural institution. Keegan In a statement, Keegan said the “timing is right” for a new leader to transition into the museum. “Together we have accomplished so much, resolved longstanding facility issues and, most importantly, kept the doors open to millions of visitors who continue to enjoy this great museum and its world-class programs and experiences,” he said. “There is always more to do and new goals to achieve.” Among Keegan’s top leadership accomplishments: he worked to negotiate a public-private partnership with Milwaukee County through which the county is investing $10 million to repair museum buildings it owns. That investment joins the museum’s $24 million capital campaign. Through the investments, MAM is opening its reconfigured Collection Galleries this month. Keegan is also credited with helping to bring a variety of worldclass exhibitions to the museum for display, as well as bolstering arts education and museum programming for families, particularly through Kohl’s Art Generation backed by Kohl’s Cares. The museum’s board of trustees plans to create a search committee to pinpoint Keegan’s successor.

——Erica Breunlin

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Oktoberfest season means beers and giant pretzels to most, but for Dan Malicki it is a busy time of year for performances. The Waukesha-based traffic operations engineer for the Wisconsin Department of Transportation plays the tuba in a polka band called Blaskapelle Milwaukee. “The opportunity to make music is just something I really enjoy, and now that I got to know a lot of people in the group it’s a blast,” said Malicki, who joined the 19-member band about a year ago. “I like low notes, and there’s something about being the foundation of the group, too.” Dan Malicki, right, plays the tuba in the local polka band Malicki started playing the tuba at Oak Blaskapelle Milwaukee. Creek High School and continued through college. Once he started working, he missed it, and bought his horn a year-and-a-half ago Malicki, who also plays the tuba in the Waukesha Area to get back into it. Symphonic Band. “I definitely enjoy the crowd feeding off (the music).” Blaskapelle Milwaukee plays at Oktoberfest celebrations, private and corporate parties, and German festivals. The band’s last performance for the year is scheduled Some notable performances for the band this year have for Saturday, Nov. 28, at the German Christmas Market, been Oktoberfest at Anheuser-Busch in St. Louis; the St. which takes place in Oconomowoc from 7 to 11 p.m. Charles Oktoberfest in St. Charles, Mo.; and the Milwaukee Blaskapelle Milwaukee has produced one CD and is Oktoberfest at Cathedral Square Park in Milwaukee. currently fundraising to record a new one. “People don’t struggle to have a good time,” said ——Hilary Dickinson

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leading edge BR EA K ING GR OUN D

Apartment tower planned for South Water Street

Understanding and valuing S Corporations

Are S Corporations valued at a premium? Until 2001, S Corps were generally valued just like C Corporations. S Corps were valued using discounted cash flows that incorporated C Corp tax rates and multiples from public company guidelines. The rationale for using C Corp tax rates to value an S Corp was that the most likely buyer would be a C Corp and the C Corp tax rate would apply in a hypothetical transaction. Several tax court cases decided between 2001 and 2006 changed how courts viewed the valuations of minority interests in S Corps. In 2001, Gross vs. Commissioner held that S Corps have a tax rate of zero. Previously, it was assumed the S Corp used the C Corp tax rate and there was no material difference between entities. By holding a zero tax rate, the court essentially said an S Corp is 67 percent more valuable than a C Corp. Valuation professionals continue to debate the relative valuation benefit of an S Corp compared to a C Corp. While a C Corp may pay as much as a 40 percent corporate tax, an S Corp faces taxes on earnings, whether distributed or not. A consideration of these incremental taxes leads to a premium closer to 25 percent for an S Corp, not the 67 percent implied in the Gross case.

Considerations in valuing S Corporations Are S Corps worth more than C Corps? The answer is circumstantial. Every S Corp valuation depends on the relevant shareholder agreements. The level of dividends paid to shareholders is also important. If distributions are only enough to cover taxes, there

KEY INDUSTRIES

A 12-story, 164-unit apartment tower is being planned at the corner of South Pittsburgh Avenue and South Water Street in Milwaukee’s Walker’s Point neighborhood. Milwaukeebased developer David Winograd plans to build the “234 Apartments.” When complete in late 2017, the complex will offer one- to three-bedroom market rate apartments, many with views of the Milwaukee River and Lake Michigan.

——Corinne Hess is no added value in the S Corp structure. Other factors include the holding period of the transferred interest, the ability to raise or borrow equity, investor level taxation, cost of capital, and sub-S restrictions. The general consensus of empirical studies shows there is no significant premium paid for a controlling interest in an S Corp, but there could be a premium paid in the case of a minority interest. In VRC’s experience, we have not seen clear evidence that S Corps are valued at more than a 25 percent premium compared to C Corps, and depending on the facts and circumstances, many do not have any premium.

——Bryan Browning is managing director of Valuation Research Corp. in Milwaukee.

for Wisconsin in 2016 and beyond

Presented by First Business Bank - Milwaukee

Friday, December 11, 2015

| 7:30-9:30a.m.

Country Springs Hotel & Conference Center - 2810 Golf Rd, Pewaukee

Join Governor Scott Walker and industry panelists for a program on the key industries for Wisconsin in 2016 and beyond.

Gregory Marcus President & CEO The Marcus Corporation

Timothy Hanley

Jim Zaiser

Jaclynn Walsh

Global Leader, Consumer & Industrial Products, Deloitte Touche Tohmatsu Ltd.

President Hydro-Thermal Corporation

President & COO Irgens

All attendees will receive a complimentary copy of the 2015 First Business Economic Survey Report

Visit www.waukesha.org or call (262)542-4249 to register.

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Managing Partner SafeNet Consulting

PLUNKETT RAYSICH ARCHITECTS, LLP

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News

Re: Women as investors and entrepreneurs “For years, the intertwined worlds of startups, angel and venture capital were dominated by the most alpha of alpha males. That is steadily changing in ways that are contributing to entrepreneurism and small business growth at a time the economy needs more of both.” — Tom Still, Wisconsin Technology Council

Re: Civil service reform “The ‘reform’ of Wisconsin’s civil service is a power grab.” — Bob Chernow, Milwaukee businessman

Do you support additional funding for Milwaukee’s cultural and entertainment assets?

Yes No

Re: Downtown Milwaukee retail

66% 34%

“The bleakness of the empty Milwaukee storefronts and motionless sidewalks does not leave a good impression of our city.”

HOLLAND NAMED PRESIDENT OF INPRO Marc Holland was recently promoted to president of Muskego-based Inpro Corp. He previously served as executive vice president of sales and marketing at InPro, and has worked at the company for 19 years.

— David Wendland, Hamacher Resource Group

For additional stories and daily updates, visit our website at...

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2015 GIVING GUIDE F E AT U R E D N O N P R O F I T

Life Navigators PHONE:

Helping employers reduce costs and keep employees healthy.

(414) 774-6255

WEB: www.LifeNavigators.org To improve the quality of life for children and adults with developmental and related disabilities, their families, and the community through information, education, advocacy and life planning services.

“Aurora is a true partner. The results we’ve seen for our employees have been amazing.” – Lukischa Ramos, Director, Human Resources United Community Center

Faced with a double-digit increase in health costs, the United Community Center in Milwaukee decided to make a change. They chose an insurance plan that included Aurora’s accountable care solution. As a health care partner, Aurora collaborates with UCC leaders like Lukischa Ramos to develop strategies that will enhance employee health and wellness long-term, while keeping their budget in line. What sets Aurora apart is the onsite nurse who educates employees about wellness and how they can access their care. By working together, Aurora makes it possible for the UCC team to focus on their mission – making the community a better place to live and work.

To hear UCC’s complete story and learn how Aurora can help your company, visit AuroraEmployerSolutions.org/UCC.

To learn more, visit

biztimes.com/giving PRODUCED BY

The United Community Center’s experience may not be typical of what other employers can expect. To find out more about the kinds of results that your organization might achieve, visit AuroraEmployerSolutions.org

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biz news New nonprofit builds base of female philanthropists

n less than a month, Impact100 Greater Milwaukee has assembled a donor base of more than 100 women who together will disperse more than $100,000 in grants to area nonprofits each year. The philanthropic organization, which will begin issuing grants to local charities in 2016, belongs to an international group, Impact100, composed of 30 chapters across the United States and Australia. The international movement is built on a collective giving model fueled by female philanthropists. Within each Impact100 chapter, at least 100 women members donate $1,100 and earn a vote toward the distribution of a $100,000 grant, awarded through a competitive grant process.

Milwaukee’s Impact100 affiliate, announced earlier this month, earned its 501(c)(3) designation in May after several months of preparations by co-presidents Anne Trunzo and Cynthia Harris, both of whom reside in Brookfield. Trunzo learned about Impact100 from a former college classmate who is active in a chapter in Martin County, Fla. After talking to that former classmate about the premise of the organization and learning about the kinds of what Trunzo describes as “transformative” grants it was Trunzo awarding, she ap-

BY ERICA BREUNLIN, staff writer

proached a cadre of Milwaukee contacts about launching a Milwaukee version. Trunzo and her nonprofit colleagues proceeded to tap the expertise of nearly evHarris ery Impact100 group across the country to learn best practices. Broadly, Impact100 Greater Milwaukee aims to develop women philanthropists, connect women with local nonprofits and award grants that will prove transformational. Grant dollars are supported by $1,000 from each member donation. Remaining funds help cover the organization’s operational costs. Im-

pact100 is a volunteer-run initiative. The organization’s Milwaukee group will consider issuing grants to nonprofits located in Milwaukee, Ozaukee, Washington and Waukesha counties. Nonprofits must operate with an annual budget that falls between $300,000 and $5 million and also must center their missions in one of five focus areas – arts and culture, education, environment, family or health and wellness. The funding entity targets organizations that can implement grant dollars within 24 months in ways that are meaningful, sustainable and impactful for the community, according to Trunzo. After receiving grant applications, Impact100 Greater Milwaukee will complete

Presents:

Take your business to The Next Stage. Gain insights for growing your business. December 3, 2015 | 7:30-9:30am | Potawatomi Hotel & Casino

Optimizing Performance through Strategic Business Alignment

Keynote speaker:

As a business leader, you have set high expectations for yourself and the business. You often see with clarity the opportunities, while at the same time might question your organization’s resolve to achieve. You’ve see initiatives start fast and furious, only to see them fizzle, flounder, and ultimately fail to achieve the desired outcome. Does this sound familiar?

Weitzer currently serves as the dean of the Center for Business Performance Solutions providing leadership in the execution of its strategic plan to provide relevant and impactful services that support economic development in the region.

Join other business owners and CEOs to learn how to cut back to accomplish more.

Joseph Weitzer, Ph.D. Dean, Center for Business Performance Solutions Waukesha County Technical College

Following the keynote presentation a panel of business leaders will provide you with advice and real-world experience on how they focused on less to accomplish more within their own firms.

Panelists:

Sponsors:

Mary E. Isbister, President, GenMet Corp. Mitch Weckop, CEO, Skyline Technologies

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WIsconsIn’s bank for busIness™ Town Bank has the ability to offer the products and technology of the big banks paired with exceptional service, understanding and proper focus that can only be delivered by a community bank. a multi-stage review process and select one finalist in each focus area. Finalists will present to the organization’s membership during its annual awards celebration in June. Following the presentations, members will vote and the top nonprofits walk home with grants that night. Awards will be broken down into a $100,000 grant, given to the organization that garners the most votes, and smaller dollar amounts given to other finalists. Impact100 Greater Milwaukee is continuing to expand its membership, which is composed of women ages 21 and older. To join, members must commit $1,100 or a matching grant from their employer to the organization. Each member can then take part in the grant review process and vote for the annual grant recipient. The organization is a very “participatory” and “democratic” one, Trunzo said, and each member can be involved as little or as much as they want. While there are no strict criteria around membership, Impact100 seeks women who want to learn more about philanthropy and about nonprofits that are meeting needs in greater Milwaukee, Trunzo said. With Harris and the board of directors, Trunzo wants to develop an active membership to drive the “hands on” experience of directing dollars, she said.

Membership for the inaugural grant cycle can be secured through the end of the year. Nonprofits interested in being considered for grant funding are invited to send in a letter of inquiry beginning Dec. 1. More information on grants will be broadcast during an information session on Dec. 3 at the Global Water Center in Milwaukee. Impact100 traces its roots to Cincinnati and founder Wendy Steele, who has lived with the mantra that “philanthropy should be a party with an open invitation for all to attend.” The first organization launched in 2001 and, since then, the Impact100 movement has generated more than $29 million for nonprofits. Steele founded the first organization as she realized that women were becoming a powerful economic force, earning and controlling more of the nation’s wealth than ever before, according to Trunzo. Greater Milwaukee’s own women have embraced the new organization with positive feedback toward its vision of changing nonprofits’ trajectories to help them achieve their missions, Trunzo said. “I think so many people are excited about the model of Impact100 and awarding transformational grants and getting women to pool their funds together in collective giving,” she said. n w w w.biztimes.com

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innovations A cry for help from the classroom Device allows teachers to summon emergency assistance

he first 30 seconds of an emergency classroom situation are the most important in determining a positive outcome, according to Marina Willis, president of the PinPoint and Sensatec business units at RF Technologies. A new safety device developed by the Brookfieldbased company gives teachERICA BREUNLIN P: (414) 336-7121 E: erica.breunlin@biztimes.com Twitter: @EricaBreunlin

ers facing emergency situations an outlet to make the most of those 30 seconds. The device, known as the HelpAlert RTLS pendant, is “a way for teachers to be able to communicate when they’re

under some type of duress” without alerting their entire classroom or a perpetrator, Willis said. RF Technologies, which has 155 employees across the Willis country, works in the “life safety business,” according to chief executive officer Glenn Jonas. Since its inception in 1987, the company has evolved to serve Jonas the education industry, particularly as several mass shootings have impacted schools across the country.

With the push of a button on HelpAlert, teachers can communicate to a school staff member that they’re in need of critical help, whether they’re confronted by a school shooter, an unruly student or a medical emergency. The button sits on a pendant that can either be mounted in an obscure classroom location, such as under a teacher’s desk, or kept right with the teacher at his side or in his pocket. The pendant also contains an LED light that regularly flashes green every 10 seconds. When a teacher presses the button, the light changes to a solid red.

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RF Technologies 3125 N. 126th St., Brookfield Innovation: HelpAlert RTLS pendant www.rft.com

The pendant then sends an alert over the school’s server to the system software and sets off an alarm in the vicinity the school has designated for monitoring the HelpAlert technology. The innovation uses a school’s existing Wi-Fi infrastructure in relaying information to the server. The pendants hold two different alarm sets that specify the severity of individual situations. For milder incidents, a teacher can quickly hit the button on the pendant to reach out for help. For more serious events, a teacher can press and hold the button to activate an alarm that indicates the need for help is dire. The staffer in charge of the emergency technology can also vet alarms from teachers on an iPad or through a smartphone. Once the staff member picks up on the alarm, he or she uses HelpAlert software to acknowledge that the emergency has been noted and help is being summoned. The acknowledgment cues the LED light on the pendant to glow green, signaling to the teacher that his or her plea for help has been answered. Through HelpAlert’s software, school personnel can identify the specific location of the pendant, as well as track its

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The HelpAlert device can fit inside a pocket or clip to a teacher’s side so he or she can call for help quickly and quietly.

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movement in order to stay on top of a teacher’s location at all times during an emergency. The technology relies on access points within a school’s Wi-Fi system to pinpoint teacher location. The technology also incorporates reference tags – small transmitter boxes – that act as second data points and lead to better location results. Upon implementing HelpAlert technology into a school, RF Technologies uploads the school building’s floor plans into the software – floor plans of individual classrooms, wings or departments, depending on each school’s preferences and needs. Once a dangerous situation has been resolved, the staff member overseeing the HelpAlert technology clears the software of the alert. Data related to classroom disruptions – such as types, times and locations of incidents – is maintained in the software for school officials to review. That way, they can pick up where and when incidents are

most often occurring. “It helps them analyze what they need to be thinking about and where they need to deploy resources,” Jonas said. The security system also monitors the battery levels of each pendant and routinely ensures that each pendant is functioning correctly. All the teacher must do is carry the pendant with her. In addition to aiding classrooms in distress, HelpAlert has been used in hospitals and in the hospitality industry. Looking ahead, RF Technologies is exploring implementing the technology into corporate offices that may feel threatened by disgruntled ex-employees, according to Jonas. With shootings at schools and in public settings on the rise, HelpAlert is critical to protecting student lives, deterring future tragedies and reinforcing teachers’ “peace of mind,” Willis said. “It’s sad that we’ve gotten to the phase that we need a system like this, but it’s a necessity,” she said. “It’s a requirement.” n

BIZ NEW S

Quad/Graphics to close two more plants this year Sussex-based Quad/Graphics Inc. announced that it will close two more plants by the end of the year, in East Greenville, Pa. and Augusta, Ga. There are about 400 employees at the East Greenville plant, which prints magazines and catalogs. There are about 250 employees at the Augusta plant, which prints retail advertising inserts and catalogs. The work from those plants will be moved to other Quad facilities around the country. Some of the work will be moved to Wisconsin, but it was unclear how many jobs will be created here. Those who do not transfer to other plants will be laid off, and are eligible for a separation package that includes pay, extension of health care benefits and career outplacement assistance. The closures are part of a plan Quad announced to reduce costs by $100 million. Also part of the plan is the reduction of selling, general and administrative expenses, an increased focus on productivity, and a recent organizational structure change.

Inpro to add 23 employees Muskego-based Inpro Corp., which manufactures interior and exterior architectural products, has announced it will hire 23 new employees. Among the positions to be added are outside sales, sales support, estimating, product development, business and market development, information technology, marketing and human resources. The company also said it will add more positions in early 2016 in manufacturing and distribution. Inpro is adding the jobs because it projects increased construction in the health care, education, commercial office, retail, sports complex and airport sectors. Inpro’s products include door and wall protection, washroom systems, expansion joint systems, privacy systems, elevator protection systems and architectural signage. The company also announced it has promoted longtime employee Marc Holland to president, and has made several other executive changes. Inpro has been growing rapidly, and is currently building a new 36,000-square-foot production and shipping facility in Charlotte, N.C.

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Presented By:

COMMERCIAL REAL ESTATE

AND DEVELOPMENT CONFERENCE THURSDAY, NOVEMBER 19, 2015 | 7:30AM - 9:30AM | POTAWATOMI HOTEL & CASINO

NATIONAL FIRMS ATTRACTED TO MILWAUKEE AREA COMMERCIAL REAL ESTATE Ten years ago, the annual Commercial Real Estate and Development Conference hosted by BizTimes Milwaukee examined how southeastern Wisconsin could attract more out-of-state investment in the region’s commercial real estate market. Fast forward to 2015, and the region’s commercial real estate market is now attracting a significant amount of investment from national firms looking for better value in secondary and tertiary markets like Milwaukee. The annual BizTimes Commercial Real Estate and Development Conference, to be held on Thursday, Nov. 19, at Potawatomi Hotel & Casino, will focus on this trend with a panel discussion among representatives from out-of-state real estate firms making major investments in the Milwaukee area. That includes Chicago-based R2 Companies, which recently purchased the downtown Milwaukee post office complex. Read more in this special report about the company’s plans for that property and also about how other national real estate firms are investing in southeastern Wisconsin.

MESSAGES FROM EVENT SPONSORS BANK MUTUAL is pleased to support the BizTimes Commercial Real Estate

WHYTE HIRSCHBOECK DUDEK S.C. is proud to sponsor the 2015 Commercial

and Development Conference. As active participants in our industry, we are proud to sponsor an event that examines the latest trends in commercial real estate and development and explores future possibilities.

Real Estate and Development Conference, and to be actively involved in some of the most significant development projects in Wisconsin.

At Bank Mutual, our seasoned commercial real estate professionals operate with a philosophy of local decision-making that allows for a simplified, streamlined lending process. We offer flexible, customized financing for a variety of needs including construction and acquisition financing and refinancing. Today, Bank Mutual is the largest bank headquartered in Milwaukee with $2.5 billion in assets and a network of 69 bank offices. We work alongside our clients to fully understand their businesses, projects, and provide the best, customized solutions to meet their needs.

WHD’s Commercial Real Estate Team is composed of high-caliber attorneys with extensive experience in representing developers, purchasers, sellers, tenants, landlords, municipalities, contractors and lenders across the spectrum of real estate matters. We’ve helped clients acquire land; negotiate development agreements; obtain financing; draft and review leases; navigate workouts and foreclosures; and resolve environmental issues, tax issues and disputes. With today’s real estate market presenting as many challenges as it does opportunities, our technical expertise in real estate law and our industry connections, innovative thinking, responsive service and focus on client success are indispensable.

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special report

commercial real estate

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UGLY

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BY CORRIN NE HESS, st aff writer

A Chicago developer has purchased what some consider the ugliest building in Milwaukee, believing he has found a hidden gem.

SHELLY TABOR

OFFICE IN

R2 Companies bought the downtown Milwaukee post office complex last month for $13.1 million from a group of private investors. Matt Garrison, managing principal, says the firm is planning to transform the 1.1 million-square-foot sprawling concrete structure at 341 W. St. Paul Ave. into a mixed-use development with retail along the street, a riverwalk and entertainment along the 1,500 feet of frontage on the Menomonee River. The timeline for these plans is contingent on the U.S. Postal Service, which has a lease in place for another four-and-a-half years, plus an option to extend for up to 30 years. w w w.biztimes.com

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commercial real estate

But Garrison, whose firm is the latest in a long list of out-of-state firms to make a major commercial real estate investment in southeastern Wisconsin, is steadfast in his long-term commitment to the project. “We’re motivated to make money but also motivated to work on really cool and interesting things,” Garrison said. “With urban planning, if you make a mistake, it can take a half century to fix. We want to 16

do the right thing.” From day one, Garrison has said he wants to keep the existing post office structure, built in 1967, intact. He is working with San Francisco-based architectural firm Gensler on redevelopment plans for the building. “It’s complex, but it’s also incredibly unique,” Garrison said. “A lot of people in Milwaukee might say this building is B i zT i m e s M i l w a u k e e

ugly, but wait until you see our renderings; it’s not going to be ugly. We are going to have so much fun.” One immediate design obstacle will be working around the train tracks that go through the building. Garrison said he would like to work with the city to install a pedestrian bridge that connects St. Paul Avenue to the Harley Davidson Museum to the south.

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Along St. Paul, Garrison is envisioning various types of retail on the first and second floors – including at least one big-box store – to activate foot traffic along St. Paul and draw people from the Third Ward. There will be parking but it will be hidden, likely on the third floor. The fourth floor will house a single corporate tenant that Garrison is hoping to lure from the suburbs or out-of-state.

CITY OF MILWAUKEE

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Along the Menomonee River, the portion of the structure that now houses mail trucks could potentially be used as part of the river walk, Garrison said. Other food, beverage and entertainment outlets are planned for the river side of the building. The existing post office structure is too large for residential, so Garrison is planning to build two towers on the property, on land next to the building, that could

KEY LOCATION The downtown Milwaukee post office complex sits across the Menomonee River from the Harley-Davidson Museum, near the Historic Third Ward and the central business district.

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include residential, hospitality or office. “I can build another 900,000 square feet of ground-up development,” Garrison said. “There is a blank canvas there, but it will depend on what the market can handle. We have a long-term outlook for this project.” Garrison’s plans are grandiose and will be costly. He plans on investing $100 million on redeveloping the existing building and $200 million on new building construction. He said it is too early to know if he will ask the city for subsidies but “financing is not an issue.” By comparison, the 44-story Couture planned for 909 E. Michigan St. is expected to cost $122 million; the 17-floor 833 East office building currently under construction is a $101 million project; Northwestern Mutual Life Insurance Co. is building its downtown corporate campus, which will total 1.1 million square feet, for $450 million. The new residential tower Northwestern Mutual announced

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POST OFFICE INTERIOR About 1,000 people work at the downtown Milwaukee post office complex.

last month will cost $100 million. Tod Desmarais, director at Gensler, compared the downtown Milwaukee post office project with the Merchandise Mart, which is located on the Chicago River in downtown Chicago, and 600 West Chicago, the converted former Montgomery Ward Catalog Warehouse in Chicago. Gensler was the architectural firm that renovated 600 West Chicago. It also has designed dozens of national and international corporate headquarters and tourist attractions, including the QVC Headquarters in Japan, the Shanghai Tower in China, the Facebook headquarters in Menlo Park, Calif., the Westin Denver

International Airport hotel and The Gate Building in Dubai. Desmarais said he and Garrison are envisioning a mixed-use development that will activate the Menomonee River, but will also have the potential to transform the neighborhood. “When you have a building of this scale and magnitude of the post office with great bones and structure, it lends itself to a lot of opportunities for a variety of different uses,” Desmarais said. “What I think is so interesting is its location within the city. It’s kind of the knuckle connecting all kinds of neighborhoods – you don’t usually find that opportunity.

All fingers point to this site.” The total footprint of the post office property is 9 acres. There is another 2.1 acres of land along the Milwaukee River at 324 N. Plankinton Ave., just south of the BP gas station at the corner of Plankinton and St. Paul, where the post office leases space for its trucks. According to the Milwaukee assessor’s office, that property is owned by Sidney and Harry Hack and the Julius Bernstein Trust. The property is assessed at $1.9 million. Garrison said that parcel, which sits on the confluence of the Menomonee and Milwaukee rivers, would also be a desir-

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commercial real estate

POST OFFICE EXTERIOR The downtown Milwaukee post office complex was buildt in 1967.

able purchase. The Hacks could not be reached for comment. “I haven’t approached them yet, but if anyone has any good ideas for me, let me know,” Garrison said. Before the sale of the downtown Milwaukee post office, there were about 40 walk throughs of the building, so listing brokers Kurt Van Dyke and James Young,

of The Barry Co., got to know post office operations pretty well. “Their business is actually growing, especially the package delivery business, but the downtown building doesn’t fit that business,” Van Dyke said. “What they could use is a single-story distribution facility.” “What we learned in the walk through is it’s probably a few years of decision mak-

ing before they can relocate, so arguably, you’re looking at them exercising one extension and maybe in that period between five to 10 years formulating a plan,” Young said, adding that the post office is using 100 percent of its 1.1 million square feet. “You would be amazed at the operations,” Young said. “Considering how quirky it looks on the outside, I expected

it to be a maze, but it lays out pretty well and they’ve got it streamlined.” In 2008, the U.S. Postal Service purchased 64 acres at the southwest corner of East College and South Pennsylvania avenues in Oak Creek with the intent to develop a new 820,000-square-foot mail processing and distribution center. At the time, the Postal Service announced it

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Strong support.

Solid foundation.

Whyte Hirschboeck Dudek is pleased to support the Commercial Real Estate and Development Conference, southeastern Wisconsinâ&#x20AC;&#x2122;s premier networking and information event for the industry. WHD is a full-service law firm with offices in Milwaukee, Madison and Waukesha County, Wis., and Chicago. To learn more, contact Brad Dallet at (414) 978-5525 or bdallet@whdlaw.com.

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commercial real estate

The 1.1 million-square-foot complex lies along the Menomonee River.

would work with Milwaukee developer Cobalt Partners to build a more efficient building and vacate the downtown facility, which was said to be obsolete. However, the project never moved forward. More than 1,000 people currently work at the downtown Milwaukee post office. If the post office is relocated to Oak Creek or another facility, it would mean redevelopment of the downtown site could take place sooner, but it would also mean the city of Milwaukee could lose at least 1,000 jobs to another community. Garrison said he is in the process of setting up conversations with the appropriate people to talk about a possible new post office facility in Oak Creek. “It would probably take several years

to make that happen and ultimately, (the post office) has control of the property,” Garrison said. “We’re willing to do anything if it makes sense.” USPS spokesman Sean Hargadon said there are no plans to develop the Oak Creek property at this time. “The Postal Service will honor the terms of the lease for the building downtown and continue to process incoming and outgoing mail for our customers,” Hargadon said. Despite the post office residing in the building, Garrison could begin putting together some of the pieces of his massive redevelopment puzzle immediately, said Rocky Marcoux, commissioner of Milwaukee’s Department of City Development.

For example, the riverwalk and pedestrian bridge pieces could start to fall into place immediately, as well as discussions with possible retail tenants, Marcoux said. “The building is a perfect situation for downtown big box retail,” Marcoux said. “Parking comes with the property and it has its own ramp off the Sixth Street Bridge for semis. We’ve said in the past big box is not something we would spend taxpayer money on, but we’re not opposed to big box retail – we’d love to see it, just not on our dime.” Where the city would be a possible partner with Garrison is on the riverwalk. Marcoux and other city officials spent about four hours with the developer and walked away “very impressed” with his

working knowledge of the city. The group talked about the site’s assets, including its location between the Menomonee River and St. Paul Avenue, as well as its proximity to the Milwaukee Intermodal Station, the Third Ward and the streetcar line when it’s built. “I just love the fact that he understands and gets the connectivity,” Marcoux said. “I’m very impressed with him, with his company, his knowledge of the site and his prep work. I’m so glad he didn’t just purchase the property as a lease hold. He bought it and wants to develop it.” The post office property was listed for $12.8 million and had at least 10 offers – all but one being from buyers who live out of state, according to The Barry Co.

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cover story SHELLY TABOR

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IT S ABOUT ’

Redevelopment of the downtown post office complex could revitalize St. Paul Avenue.

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“There was a lot of out-of-state competition for this property,” said James T. Barry III, president of The Barry Co. “It’s a big indication that non-local developers and investors have rediscovered Milwaukee and are willing to invest and that’s a vote of confidence for Milwaukee.” Once the post office vacates and Garrison begins his massive redevelopment project at one of the most visible sites downtown, Barry believes the work will

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be a catalyst for future redevelopment along St. Paul Avenue. “The city has had a vision of trying to connect the Menomonee River, to build a river walk, to have pedestrian bridges from the train station to the Harley Museum; this is something that could spark that,” Barry said. “There is a movement to try to redevelop St. Paul and reenergize it. This type of redevelopment can really be a jump start.” n w w w.biztimes.com

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commercial real estate

MILWAUKEE AREA CRE MARKET IS ATTRACTING NATIONAL INVESTMENT BY ANDREW WEILAND, staff writer

s the U.S. economy recovered from the Great Recession, the commercial real estate industry rebounded and major investors flocked to do deals in primary markets located along the coasts and in Chicago. “For the past few years, there has been a flight to the coasts,” said Chris Ressa, senior vice president of leasing for the Northeast and Midwest for Tarrytown, N.Y.-based retail real estate firm DLC Management Corp. Wall Street sees Chicago and the coastal markets as the safest places for commercial real estate investments, he said. Foreign investors, real estate investment trusts and pension funds have made so many investments in the nation’s primary commercial real estate markets that prices have risen dramatically in those areas, causing some national real estate investors to look elsewhere for deals. “It’s impossible to get return (for many deals in the primary markets),” Ressa said. “If you want yield, you have to look elsewhere.” With prices for commercial real estate so high in the nation’s primary markets, many national real estate investors have turned to secondary and tertiary markets like Milwaukee. In 2009, only 13.8 percent

cent of the commercial real estate transactions that were $1 million or larger in the Milwaukee area involved out-of-state buyers, up from 32 percent last year, according to Xceligent. The Milwaukee area is not the only one getting an influx of out-of-state investments. Other secondary markets, like Cincinnati, Cleveland, Kansas City and St. Louis, are also attracting more out-of-state buyers of commercial real estate (see chart on page 25). “Due to price escalations in primary markets, capital looking for higher returns is investing in tertiary and secondary markets,” said Scott Stahr, co-founder and principal of Fulcrum Asset Advisors. “We have been targeting such markets for several years and have invested in Milwaukee and St. Louis multiple times. We’re looking forward to doing some more investing in Milwaukee.” Stahr, Ressa and three other representatives of out-of-state firms that are making major real estate investments in southeastern Wisconsin will be part of a panel discussion at the 13th annual BizTimes Milwaukee Commercial Real Estate and Development Conference on Thursday, Nov. 19, at Potawatomi Hotel & Casino. Stahr’s firm, Fulcrum Asset Advisors,

250 PLAZA Chicago-based Fulcrum Asset Advisors, as part of a joint venture, this year acquired the 250 Plaza office building in downtown Milwaukee. The joint venture plans to make major improvements to the building.

BIZTIMES COMMERCIAL REAL ESTATE & DEVELOPMENT CONFERENCE PANELISTS

Aaronson

Garrison

of the commercial real estate transactions in the Milwaukee area that were $1 million or larger involved out-of-state buyers, according to Xceligent. This year 42.1 per24

Kanoff

Ressa

as part of a joint venture, this year acquired the 20-story 250 Plaza office building in downtown Milwaukee for $9.75 million. The joint venture plans B i zT i m e s M i l w a u k e e

Stahr

to make major improvements to the distressed office building. “We are at the start of a major multimillion dollar capital improvement pro-

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gram, including a new main lobby, new entrance, restrooms and corridors, and major parking garage work,” Stahr said. In 2011, Fulcrum acquired four office buildings in Brookfield, including the two largest in the high profile Crossroads Corporate Center, with a total of 338,424 square feet of space, for about $41 million. “We have invested major capital in our suburban assets (near) Goerkes Corners, remodeling lobbies, common areas, parking lots and adding amenities,” Stahr said. “We did this despite being 95 percent leased, in order to anticipate competition and possible new development.” DLC Management in 2014 purchased

PERCENT OF CRE TRANSACTIONS OVER $1 MILLION INVOLVING OUT-OF-STATE BUYERS

It’s not just your space.

It’s blood, sweat and tears space. the 408,500-square-foot Midtown Center shopping center in Milwaukee for $47 million. The deal fit DLC’s acquisition strategy for large retail properties with good fundamentals and potential for improvement, Ressa said. The firm likes the property’s location near the intersection of busy Capitol Drive and Fond du Lac Avenue. The central city neighborhood offers high population density, which DLC likes, but low income levels, by which the firm is not fazed. “We’ve got a lot of experience in demographics like this nationwide,” Ressa said. “We own a lot of (shopping centers in low-income neighborhoods). It’s about finding the right group of users. There are services, health and wellness and retail tenants that like to do business in markets like this.” Since DLC acquired the property, it has added two notable new tenants: a 25,000-square-foot Planet Fitness center and a 5,000-square-foot rue21 store. More important than filling vacant space is attracting tenants that are a good fit for the community and the shopping center, Ressa said. “We’re not just filling a space to fill a space,” he said. “That never works. One of the most notable out-of-state investors in the Milwaukee area’s industrial real estate market is Dallas-based Westmount Realty Capital LLC, which earlier this year acquired a portfolio of 10 industrial buildings in the metro Milwaukee area for $61 million. “So far, we have been very happy with that acquisition,” said Stephen Kanoff, executive vice president and partner at

Dallas-based Westmount Realty Capital, and another one of the panelists at the BizTimes Milwaukee Commercial Real Estate and Development Conference. “We’d like to buy more in Milwaukee.” Atlanta-based Atlantic Realty Partners is working on three apartment developments in the Milwaukee area. Construction work is underway on the first phase of the River House development, a fourbuilding 443-unit luxury apartment development on the former Gallun Tannery site along the east side of the Milwaukee River, the west side of North Water Street, and north of Holton Street in Milwaukee. Atlantic Realty Partners also plans to develop a 236-unit luxury apartment development at 11011 W. North Ave. in Wauwatosa, near Mayfair Mall, and a 195-unit luxury apartment development at West Bluemound Road and Bishops Way in Brookfield. “We are going to keep ourselves busy in (the Milwaukee) market for the next several years,” said Richard Aaronson, president and co-founder of Atlantic Realty Partners, and another one of the panelists. The fifth panelist for the conference is Matt Garrison, managing principal of Chicago-based R2 Companies, which recently purchased the 1.1 million-squarefoot downtown Milwaukee post office complex for $13.1 million. R2 is planning a major transformation for the property (see cover story). n w w w.biztimes.com

At JLL, we know the commercial real estate business is about more than just square feet - it’s about understanding who our clients are and where they want to be. We are renowned for our expertise and local market insight but also because we understand that behind every piece of real estate there are real hopes and dreams. To see how we can help, visit www.jll.com/milwaukee JLL MILWAUKEE + 1 262 784 7500

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commercial real estate

CARW MEMBERS REMAIN BULLISH BY ANDREW WEILAND, staff writer

embers of the Commercial Association of Realtors Wisconsin remain overwhelmingly bullish about the commercial real estate market, according to the results of an annual poll of CARW members conducted by BizTimes Milwaukee. This is the third consecutive year CARW members have expressed an overwhelmingly optimistic view of the commercial real estate market. Of 104 CARW members that responded to this year’s survey, 84 percent said the commercial real estate market is “improving,” 15 percent said the market is “flat” and only one percent described the market as “weak.” That is similar to 2014, when 86 percent of CARW members said the market was “improving.” CARW members have been far more optimistic in the past three years than they were five years ago, when only 32 percent of survey respondents described the commercial real estate market as “improving.” CARW members are also optimistic about 2016. When asked if they believe the commercial real estate market will improve next year, 88.5 percent of survey respondents said “yes.” That is a very high number, but down from last year’s survey, when 94.6 percent of CARW members said the commercial real estate market would improve in 2015. “CARW members show continued optimism about the commercial real estate market for the year ahead,” said Tracy Johnson, president and chief executive

CARW MEMBERS’ IMPRESSION OF CRE MARKET CONDITIONS

officer of CARW. “They cite pent up demand, a positive political climate, strong investor activity, and several key projects downtown and throughout the region coming to fruition. Momentum will only build if our region can attract and create additional jobs to support the development and activity.” The capital markets for commercial real estate also continue to improve, CARW members say. Of those surveyed, 72 percent said the capital markets are “improving,” 28 percent said they are “flat” and none said the capital markets are “declining.” In the 2014 survey, 77 percent of CARW members said the capi-

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tal markets were “improving” and in the 2013 survey, 60 percent said the capital markets were “improving.” The industrial market remains the strongest sector of the southeastern Wisconsin commercial real estate market, based on Xceligent data and the CARW survey results. Of CARW members surveyed, 83 percent said the region’s industrial market is “improving,” 14 percent said it is “flat” and 3 percent said it is “declining.” Last year, 90 percent of survey respondents said the region’s industrial real estate market was “improving.” Xceligent data backs up the CARW survey results. The region’s industrial

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space vacancy rate fell to 4.9 percent in the third quarter, down from 5.5 percent a year ago. The region’s industrial market has had 22 consecutive quarters of positive absorption and has absorbed more than 23 million square feet of space since that trend began in the second quarter of 2010. The retail market is also hot in southeastern Wisconsin. Several stores have been added at Mayfair Mall in Wauwatosa, most notably the 140,000-squarefoot Nordstrom department store and The Container Store. Construction continues on the second phase of The Mayfair Collection in Wauwatosa, which will add a Whole Foods store. Construction

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February 24th - 25th, 2016 at the Hyatt Regency, Milwaukee, WI Join over 400 manufacturing professionals at Wisconsin’s premier manufacturing conference to learn, network, and celebrate manufacturing in our state.

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is also ongoing at The Corners development in Brookfield, which will have 400,000 square feet of retail and restaurant space and will be anchored by a 140,000-square-foot Von Maur department store. The Corridor development in Brookfield will have 140,000 square feet of retail space. Meijer has opened several stores in the region this year and more are planned. Costco is opening stores in New Berlin and Menomonee Falls. Considering all of that development activity, it’s not surprising that CARW members are overwhelmingly bullish on the region’s retail market. Of those surveyed, 81 percent said the region’s retail market is “improving” and 19 percent said the region’s retail market is “flat.” None said the region’s retail market is “declining.” Last year, 71 percent of CARW members said the region’s retail market was “improving.” The region’s retail market had an 8.1 percent vacancy rate and absorbed 590,409 square feet of retail space during the third quarter, according to Xceligent.

The area’s long-struggling office market is finally showing signs of improvement. Of the CARW members surveyed, 64 percent said the region’s office market is “improving,” 32 percent said the region’s office market is “flat” and 4 percent said the region’s office market is “declining.” Last year, 53 percent said the region’s office market is “improving,” and in 2013, only 43 percent said so. The region’s office space vacancy rate dipped to 18.4 percent in the third quarter, down from 19.1 percent a year ago and 20.6 percent two years ago, according to Xceligent data. The region’s office market absorbed 121,389 square feet of space during the third quarter of 2015. Highlights of the region’s office market include the 17-story, 358,000-square-foot 833 East Michigan St. office building Irgens is building downtown and the Northwestern Mutual Life Insurance Co. expansion that includes construction of its $450 million Northwestern Mutual Tower and Commons project at the company’s downtown headquarters campus. n w w w.biztimes.com

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commercial real estate

NORTHWESTERN MUTUAL’S PROPOSED RESIDENTIAL TOWER WILL BE ONE OF MANY IN ITS PORTFOLIO BY CORRINNE HESS, staff writer

hen Northwestern Mutual Life Insurance Co. begins construction on a 33-story high-rise apartment building in downtown Milwaukee in March, it won’t be the company’s first foray into the residential real estate business. Northwestern Mutual Real Estate, the Milwaukee-based company’s real estate arm, is one of the largest investors in real estate in the country, with investments in commercial mortgages and equity investments across all major property types, including apartments, office, retail and industrial. The $30 billion to $35 billion real estate investment portfolio is composed of 85 percent fixed income and 15 percent equity investments. “We have a strong bias towards needsbased real estate; we’re not risk takers,” said Tom Zale, vice president of real estate investment for Northwestern Mutual. “We love grocery-anchored retail and we love apartments. We don’t do a lot of hotels.” Zale spoke at the Commercial Association of Realtors Wisconsin monthly meeting Oct. 19. Registration for the program was so popular, the event had to be moved to accommodate the crowd. As far as the Northwestern Mutual real estate group’s equity investment, 46 percent is apartments; 22 percent is industrial; 21 percent is office; 4 percent is retail, although Zale said the company would love to do more retail; and the remaining 7 percent is “other,” such as manufactured housing and storage. Northwestern Mutual will add to its apartment portfolio next year when it constructs its new tower on the block bounded by North Van Buren, North Jackson, East Mason and East Wells streets. “Milwaukee is not a 24/7 city yet, but in its own right, it may be,” Zale said. “There is no reason why Milwaukee can’t continue to be a growing, vibrant secondtier city. That’s one of the things that really excited me about this new project. And we know what we’re doing in apartments.” Northwestern Mutual Real Estate has 28

A rendering of the residential tower Northwestern Mutual plans to build in downtown Milwaukee.

16,000 units in its apartment portfolio, including 11,500 units in 36 projects over the past five years. The average age of the portfolio is eight years. That portfolio includes several highrise apartment complexes, including: »» 77 12TH STREET: Located in Midtown Atlanta, the 23-story, 330-unit apartment building boasts a sports lounge, outdoor sky deck, saline swimming pool with waterfall and in-water tanning ledges. »» 1225 OLD TOWN: A 250-unit apartment building in Old Town Chicago that includes an 11th floor rooftop patio with a heated pool and fire pit. »» E2 APARTMENTS: Located just north of Chicago in Evanston, Ill., the 16-story, 368-unit apartment tower inB i zT i m e s M i l w a u k e e

cludes a full-size basketball court and a party room with a chef ’s kitchen. »» THE MODERN: The 47-story, 450-unit apartment tower in Fort Lee, N.J., offers residents an outdoor movie theater, covered dog run and pet spa, separate “tween” and children’s areas, and a karaoke lounge. “We have two architects on site and we’ve had an opportunity to see what works and what doesn’t work,” Zale said. The $100 million Milwaukee apartment tower development will be adjacent to Northwestern Mutual’s Milwaukee headquarters campus and will feature high-end residential apartments and retail space, while also addressing the company’s workforce parking needs.

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The high-rise will feature 154 one-bedroom apartments, 66 junior one-bedroom apartments, 88 two-bedroom apartments, four penthouses with two bedrooms and 12 penthouses with three bedrooms. The units will have 22 design types to optimize the lake views and range in size from 570 square feet to 1,485 square feet, Zale said. The tower will have several common areas, including the pool, a barbecue deck and a golf simulator, which is something unique to the market that Zale believes is going to be attractive for prospective residents. In addition to the residential units, ground floor retail space is planned along Jackson, Mason and Van Buren Streets, and an eight-story, 1,100-space parking structure will sit below the residential stories.

NORTHWESTERN MUTUAL

The tower will be located at Mason and Van Buren streets.

NEWS BRIEFS

COHEN FUND AUDIT SERVICES MOVES MILWAUKEE OFFICE TO THIRD WARD

Marianne Burish of Siegel-Gallagher brokered the lease for Pieper Properties and Mike Wanazek of Colliers represented Cohen Fund Audit Services.

Cohen Fund Audit Services has moved its Milwaukee office from 735 N. Water St. in downtown Milwaukee to The Mayer building at 342 N. Water St. in the city’s Historic Third Ward.

FRESH THYME FARMER’S MARKET COMING TO KENOSHA

The Mayer building is owned by Pieper Properties. Cohen Fund Audit Services is occupying 5,671 square feet of space on the eighth floor of the building. Cohen Fund Audit Services is headquartered in Cleveland, and has a location in New York in addition to its Milwaukee office.

As far as rent, Zale said Northwestern Mutual will test the market; however, the company is creating a project that will be deserving of a rent that supports the development. “We want to showcase what we’re

capable of doing and what we are doing across the country,” Zale said. “This is a best-in-class opportunity. We have a much broader vision of not just what’s best for this site, but what’s best for the neighborhood and what’s best for the company.” n

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Fresh Thyme Farmer’s Market is opening a third location in Wisconsin. Owners of the Midwest organic grocery chain have leased 28,709-square-feet at Southport Plaza at 7058 Green Bay Road in Kenosha. Teresa Shemitis and Dan Rosenfeld with Mid-American Real Estate represented Southport Plaza in the deal. Fresh Thyme has stores in Illinois, Indiana, Michigan, Ohio and Minnesota. It will open two stores in Missouri and is now entering the Wisconsin market. The North End development in downtown Milwaukee will include a 29,500-square-foot Fresh Thyme Farmers Market grocery store.

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commercial real estate

A rendering of the Graef team’s Lakefront Gateway Plaza design.

GRAEF-LED TEAM WINS LAKEFRONT GATEWAY PLAZA DESIGN COMPETITION

ilwaukee-based engineering firm Graef was recently selected to lead a team to design the Lakefront Gateway Plaza project on Milwaukee’s lakefront – a triumph for any designer, as the competition was fierce. The Graef team first beat two dozen design teams from across the country CORRINNE HESS P: (414) 336-7116 E: corri.hess@biztimes.com Twitter: @CorriHess

who responded to a request to submit entries in the contest. Once the contest was narrowed, the local team was pitted against the best in the industry – contenders who have projects on their resumes including Chicago’s Navy Pier, London’s Olympic Park and Northwestern Mutual Life Insurance Co.’s new headquarters, currently under construction in downtown Milwaukee. 30

“It is interesting we’ve chosen a local firm, but it’s not because they’re local, it’s because they are the best,” said Milwaukee Common Council president Alderman Michael Murphy, who was not on the selection committee, but spoke during the selection announcement. “In many respects, we are too humble as a city.” The Lakefront Gateway Plaza is planned for a 1.5-acre site between the Milwaukee Art Museum and the Summerfest grounds. The plaza will be bounded by Michigan Street, Lincoln Memorial Drive, Art Museum Drive and the future extension of Clybourn Street. The Lakefront Gateway Plaza is part of an effort to reshape and improve the lakefront area. That will include the planned reconfiguration of the Lake Interchange and the extension of Lincoln Memorial Drive south into the Historic Third Ward. Each design proposal submitted for the plaza featured a water component and B i zT i m e s M i l w a u k e e

would connect via pedestrian bridge to The Couture, a $122 million, 44-story, 302-unit apartment tower planned for land that now houses the Downtown Transit Center, 909 E. Michigan St. While the winning team is led by Graef, it also includes Vancouver-based PFS Studio; Milwaukee-based Rinka Chung Architecture; Toronto-based Dan Euser Water Architecture; and Milwaukee-based NEWaukee. Matt Rinka, principal of Rinka Chung Architecture, is also the architect designing The Couture. The group submitted a design proposal called Urban Confluence that shows pedestrian bridges from O’Donnell Park over Michigan Street to The Couture and from The Couture over Lincoln Memorial Drive to the Lakefront Gateway Plaza. The pedestrian bridges would have water along the sides that would flow all the way to the Lakefront Gateway Plaza to

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integrate with a variety of water elements. The plan would add numerous water features, including a large water feature area that could be used as an ice skating rink in the winter, and numerous trees. The project also includes a lighted beacon that would change color based on the weather, pavilions and “water veils.” The plan also suggests that East Clybourn Street could become an important pedestrian connection between downtown and the lakefront. When the team was chosen last month, the group and the city made it clear that these designs were preliminary and public input would be sought. The early cost estimate for the project is $26 million. A combination of private donations and government grants are expected to be necessary to pay for the project. The city has already set aside $3 million in tax incremental financing for the project.

Pat Kressin, leader of Graef ’s design team for the Plaza, said philanthropy will be an important part of the project. He believes his team has a good idea and will expound upon it, and the philanthropic community will be excited to support it. Kressin said Graef has had its eye on this project for the past 18 months and has been meeting with city and Wisconsin Department of Transportation officials to learn the challenges the space might have so those issues could be addressed when creating a design for the park. “We went after this project, brought in some out-of-town experts, and were able to prevail over some of the best landscape architects and planners in the world,” Kressin said. “There is still a lot more work to do. We created a broad brush program and now we flush it out with the detail elements.” A timeline for the project has not been set and will likely depend on funding, but Kressin said it will ideally open at the same time as The Couture, since the two will be interconnected.

Rinka, who always humbly points out his role on the team is as a secondary architect, said while his work on The Couture and the Lakefront Gateway Plaza will integrate, he doesn’t believe that is why the team was chosen for the job. “Our submission didn’t show much of (The Couture) project,” Rinka said. “I think our local insight into what the lakefront really needs in terms of better access and inclusion really helped us among jurors. There were certainly big names in design, but the team we have is as strong as any of the names we were in competition against. We won this on our merits.” Joel Brennan, president and CEO of Discovery World, who was one of the jurors who chose the winning team, said it was the combination of local knowledge with Graef and Rinka, as well as the international talent. “I’m someone who runs an institution that is on the lakefront. The biggest thing for me is how do you easily get people to navigate from where they are to Discovery World, to the lake, to Summerfest – how

do we make this a true lakefront campus?” Brennan asked. The process for choosing a design team for the Lakefront Gateway Plaza was much different than another major project that transformed this area of the lakefront. In 1994, Spanish architect Santiago Calatrava was urged by the Milwaukee Art Museum’s search committee to submit a proposal for the museum’s expansion project. The art museum project was initially proposed as a small addition kicked off with a then-anonymous $10 million gift from Betty and Harry Quadracci. When Calatrava was chosen, excitement over the project grew and fundraising accelerated, which was needed, because so did the price tag. When the Quadracci Pavilion opened in 2001, it had cost a reported $122 million, up from the original estimate of $38 million. Greg Uhen, CEO and managing partner of design at Eppstein Uhen Architects, who was on the Lakefront Gateway Plaza jury, believes the public will embrace this

project as it did the art museum, both intellectually and philanthropically. “The money that had to be raised for the museum was substantially higher, and in some ways, this can have even more of an impact,” Uhen said. “I love the museum and many, many people visit it. But this space is an outdoor park and a public space. It has the ability to attract a lot more visitors.” Uhen said he chose the Graef team because he liked the fact that this group has worked in cold weather climates. The other finalists were teams led by James Corner Field Operations, New York; AECOM, Los Angeles; and The Office of James Burnett, Solana Beach, Calif. “Landscapes can be beautiful in California, but it’s not cold weather work,” Uhen said. “I also liked this team’s modern, clean designs. We have a limited budget, but a budget I think we can work with. There are a myriad of outside issues that affect a small piece of property and Graef had a better understanding of those types of issues than anybody.” n

Inspired by Innovation Davis & Kuelthau’s Construction Industry and Real Estate Teams are committed to taking a unique approach to guiding you through your legal needs. We proudly work with private and public owners, investors, developers, general contractors, subcontractors, architects and engineers on the full spectrum of start-to-finish services.

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commercial real estate CRAFT BREWERY PLANNED IN MENOMONEE VALLEY A craft brewery is planned at a former factory in the Menomonee Valley. Third Space Brewing, 1505 W. St. Paul Ave., will include a sampling and tasting room and have an outdoor beer garden when it opens in summer 2016. Future plans call for an event space and revitalization of an old train dock on the property, said Kevin Wright, brewery owner. Wright and his business partners are leasing about 15,000 square feet of the former factory, located near Sobelman’s and the 16th Street viaduct on the site of the old Geuder, Paeschke & Frey tinware manufacturing facilities. For the past six years, Thiensville native Wright has been head brewer and director of brewing for a 40,000-barrelper-year operation at Hangar 24 Craft Brewery in Redlands, Calif. Construction on the new Third Space Brewing facility began in October. Dan Beyer is the architect on the project

and Steve Looft is the developer.

TARGET TO CLOSE BROWN DEER ROAD STORE Target Corp. will close its Northridge Plaza store at 8501 W. Brown Deer Road on Jan. 30, 2016. The store’s profits were dwindling, the Minneapolis-based retailer said. “The decision to close a Target store is not made lightly. We typically decide to close a store after careful consideration of the long-term financial performance of a particular location. Typically, the decision to close a store is as a result of seeing several years of decreasing profitability,” said Kristy Welker, a Target spokesperson. The retail corridor along Brown Deer Road has been in distress since Northridge Mall closed in 2003. Over that time, Best Buy, Lowe’s, Walgreens, Stein’s Gardens and Gifts, Circuit City and Stein Mart have closed their stores between North 60th and 91st Streets. Walmart, one of Target’s biggest competitors, closed its store at 8700 N.

Servite Drive in the corridor in 2012, but then purchased the vacant Lowe’s store at 6300 W. Brown Deer Road and built a supercenter store that includes a grocery department that opened last year. Brookfield-based Penzeys Spices has been unsuccessful in attempts to purchase and redevelop the former Northridge Mall, located northwest of Brown Deer Road and North 76th Street.

RIVERFRONT PLAZA ON OLD WORLD THIRD SOLD Riverfront Plaza on Old World Third has sold for $7.5 million. The building at 1110 N. Old World Third St. was sold to Andover Portland Avenue Associates LLC., an investor group from Maine. RFP Office LLC/NAIMLG previously owned the property. It includes five floors of office space and ground floor retail space that currently houses Lucille’s Piano Bar & Grill and Ale Asylum Riverhouse. Patrick Gallagher, with SiegelGallagher, Inc., was one of the brokers

representing the owner. Gallagher said the new owners plan to keep the building as office space and plan to replace the aging HVAC system and make cosmetic improvements to increase the number of tenants in the building. The property is currently about 77 percent occupied, Gallagher said.

MIXED-USE DEVELOPMENT PLANNED AT NORTH WATER AND EAST BRADY Wangard Partners Inc. is moving forward with plans for a mixed-use development at North Water and East Brady streets. The Milwaukee developer is proposing a two-phase project that will include 89 apartments with 92 parking spaces and 4,500 feet of commercial space, including a coffee shop, in the first phase, said Wayne Wiertzema, Wangard president. Phase one is expected to cost $21 million. Phase two will include a second mixed-use building with a “small amount” of commercial space and an undetermined amount of residential units, Wiertzema said.

On October 27th, professionals, executives and students gathered at Potawatomi Hotel & Casino for the 2015 Get Smarter Talent Development Conference. The theme this year was “Invest in Your Company’s Next Generation of Leaders,” which included best practices, philosophies and other insights that have helped make companies they lead truly great. The first panel featured local rising stars who discussed the accomplishments and challenges they faced in their careers. The second part of the program consisted of local executives who shared 50 ideas in 50 minutes on how to advance and improve your business.

Thank You!

Thank you to our sponsors, presenters and attendees of the 2015 Get Smarter Talent Development Conference.

Presentd By:

Sponsored By:

Join us as we salute excellence, encourage innovation and recognize these deserving heroes! The Health Care Heroes awards salute the impact and the accomplishments of people and organizations that are making a positive difference in the community on the front lines of health care. The awards presentation will be emceed by:

Behavioral Health:

Honors an individual or an organization for their leadership, commitment and care on behavioral health issues. • John Chianelli, Executive Director, Whole Health Clinical Group, a service of MCFI • Michael Miller, Dr., Medical Director of the Herrington Recovery Center, Rogers Memorial Hospital • Mary Neubauer, Certified Peer Specialist, Community Advocates

Community Service:

Honors an individual or an organization for leadership in focusing on solving a particular health care issue.

Melinda Davenport Co-Anchor WISN 12 News This Morning

• Mark Lyday, Director of Child Advocacy and Protective Services, Children’s Hospital of Wisconsin • Robert Ramerez, Manager, Community Services, Columbia St. Mary’s • Jim Strachota, Executive Director, Albrecht Free Clinic

Corporate Achievement in Health Care:

Honors a company or organization that has successfully implemented an innovative health care product, process or service. • Lisa Froemming, Vice President, External Relations, Columbia St. Mary’s • Medical College of Wisconsin

Executive Leadership:

Honors a senior-level individual who demonstrates strong skills in leading their organization in quality care, collaboration and financial management. • Larry Schreiber, President, Anthem Blue Cross and Blue Shield in Wisconsin

Nurse:

Honors an individual from the nursing field whose performance on the job is considered exemplary by patients, peers and physicians. • Elizabeth Krzywda, APNP, Medical College of Wisconsin Dept. of Surgical Oncology • Alexa Nawrocki, Registered Nurse, Madison Medical Affiliates

Physician:

Honors a physician whose performance on the job is considered exemplary by patients and peers. • Doug Evans, Chairman of the Dept. of Surgery at MCW and pancreatic cancer surgeon, MCW • Pamela Wilson, Medical Director, Sixteenth Street Community Health Centers

Volunteer:

Honors an individual who has done volunteer work for the good of one or more people or the entire community. • Mike and Mary Altschaefl, Owner and CEO/President, Albany-Chicago Company; Mid-America Bag, LLC • Maggy Schultz, Froedtert and the Medical College of Wisconsin

To register to attend visit biztimes.com/hero

strategies

Objective overseers

Avoid cronyism when selecting board members

he family business frequently has multiple shareholders who are family members, but oftentimes the board is also made up of family outsiders. As the saying goes, “you can’t pick your family,” but you can pick the outside board members wisely by selecting on competency and character. One of the most common mistakes owners make is cronyism – choosing someone because she is a friend. This may have served well during the 1950s, but today’s boards are far more complex – and should be – because the issues they will face are complicated. A board member who is too close to the family can’t offer objective concerns the way he needs to, or ask the right questions when they need to be asked. If the chair/owner

wants a golf foursome, go golfing, but if you want to run a board and keep your business going, choose individuals with skillsets, expertise, and enough distance to remain objective.

“ A board member who is too close to the family can’t offer objective concerns the way he needs to, or ask the right questions when they need to be asked.” A good board member is there to support and offer sage advice. Recently, the owner of a board I sit on called a meeting with me to discuss our roles – his as

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owner and mine as board chair. I made it clear I am not there to run the business – manage it – that is his job. But I am there to protect the business, and my

B i zT i m e s M i l w a u k e e

loyalty is to the organization he built, first and foremost, even above him! That was tough for him to hear, but it is the truth. That is how I view “fiduciary,” although I am sure some lawyers reading this will have a far more lengthy opinion. The board member must protect and serve the organization, and sadly, sometimes that protection must even be rendered against the owner, who sometimes makes capricious decisions. Is that new product line really in the best interest of the firm or the ego of the owner? You need to speak up if you have concerns. This type of board member is what a family business – any business – should want. So what kind of board member should be hired? Stay away from people that could be paid for their services, SCHROEDER.................................. from page 34

Here in Wisconsin, Gov. Scott Walker signed the Wisconsin Fast Forward program into law in March 2013 with the near-unanimous support of the state Legislature. Wisconsin Fast Forward helps address the state’s need for skilled workers. The program created training grants and makes other investments to prepare workers for jobs available today and in the years to come. Wisconsin Fast Forward will make up to $15 million in grants available to support employer-led worker training. The Department of Workforce Development’s new Office of Skills Development administers the program.

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DAVID B O R S T FAMILY BUSINESS

like bankers and lawyers. You can secure their services in other ways without having them on a board. Diversity of opinion is a good thing, and this can come from ethnicity or gender. Add people who understand the industry without being in it, and most of all, hire people who have the wisdom of Job and the counsel of Solomon. A person with integrity. A person with honor. These people are not easy to find, but you know them when you meet them. The owner who hires friends will get yes-men most frequently or ex-friends when the fire is lit for some reason. Don’t risk friendships or worse, your business, by selecting people with strained objectivity. Choosing the right person helps ensure a legacy of future success for the business and this makes sure everyone is on board. n David Borst, Ed.D., is executive director and chief operating officer of the Family Business Legacy Institute, a regional resource hub for family businesses. He can be reached at david@fbli-usa.com.

As the Council for Adult and Experiential Learning has documented, such learning partnerships promote flexibility for adult learners, increased accountability for learning outcomes that meet employer needs, and in many cases, a substantial reduction in the cost of a college education. Of course, implementing these learning partnerships involves numerous changes, including challenging some of the most “sacred cows” in higher education. n Daniel A. Schroeder, Ph.D. is president of Brookfieldbased Organization Development Consultants, Inc. (www. OD-Consultants.com). He can be reached at (262) 8271901 or Dan.Schroeder@OD-Consultants.com

strategies

The evolving world of work

Armed with high tech tools, what younger workers expect

f you’re reading the plethora of books, articles and studies related to the attraction and retention of the emerging workforce (combined with your own experiences), you’re well aware that workforce demands and preferences have shifted. As well, the world of work is evolving, in large part driven by technology advances. The annual Cisco Connected World Technology Report (2014) examines the relationship between human behavior, the Internet and networking, demonstrating the ways in which the world of work is being impacted by technology. This global study focused on generation X, generation Y and human resources across a range of industries, across 15 countries. Lance Perry, vice president of IT customer strategy and success at Cisco, expressed that, “Businesses should grab this opportunity to re-examine how they need to evolve in order to attract top talent and shape their business model.” In this column, I will share a number of the findings, taken directly from the report. You can read the full 2014 Cisco Connected World Technology Report at bit.ly/1fvCAbn. »» “By 2020, the majority of Generation X and Generation Y professionals believe that smartphones and wearable devices will be the workforce’s most important ‘connected’ device. The laptop will remain the workplace device of choice.” »» “Devices, apps and solutions preferred by these generations are enabling new ways of working, including the rise of the ‘supertasker’ using four devices.” »» “44 percent of millennials feel most productive in the office.” »» “More than four in 10 Gen X and Gen Y professionals, as well as nearly six in 10 HR professionals, consider themselves to be a ‘supertasker,’ defined as an individual who can successfully do more than two things at once, and do them well.” »» “Most HR professionals feel supertaskers are best suited for a managerial role, an individual contributor or an executive role.”

»» “Gen Y professionals are more likely to indicate being “wired” differently than Gen X employees…and 56 percent note they are more productive than Gen X employees.” »» “Nearly six in 10 HR professionals would be willing to hire a candidate by only interviewing the candidate using video conferencing.” »» “More than half of professionals (Gen X and Gen Y) consider themselves accessible to work 24 hours a day, seven days a week, including three in 10 who are accessible by both email and phone.” »» “Does the 9-to-5 workday exist? The workday is more like 7-8, then 9-12, then 2-5, then 9-10.” »» “Professionals are somewhat evenly divided when it comes to the typical white collar workday. Slightly less than half prefer the freedom to work and play at any time with no restrictions.” »» “Roughly two-thirds of professionals believe that an organization that has adopted a flexible mobile and remote work model has a competitive advantage over one that requires employees to be in the office from 9 a.m. to 5 p.m.” »» “About half of Gen X and Gen Y professionals feel their organization’s human resources department is adjusting to make a more mobile, flexible work style for its employees.” »» “Most professionals believe physical offices will still exist in 2020, though about four in 10 believe they will be much smaller.” »» “Further, more than half of Gen X and Gen Y professionals believe their job will sometimes require them to be in the office, depending on their schedule.” »» “BYOD (bring your own device) is now pervasive: Four in 10 HR professionals indicate all employees within their organization are allowed to connect any device to their network in order to do their jobs.” »» “BYOD gone mad: In Australia, more than half use at least 10 devices in their daily lives.” (10? I don’t even know what those could be!) w w w.biztimes.com

»» “The smartphone is important enough that (more than) one-third of professionals would give up electricity in their homes for a week before giving up their smartphone.” »» And, here is an intriguing one to finish up with: “About one-quarter of Gen X and Gen Y professionals would be willing to move to Mars or another planet if their organization (were) to open a branch.” We continue to observe business leaders focused on the preservation of longstanding business practices, particularly related to the approach to work. For some individuals, there exists a clear demarcation between what is right (the way it’s been) and what is wrong (the newer pref-

A LETA N O R R IS NEXT GENERATION erences). I encourage you to read the full study as part of your continued research into and understanding of the evolving world of work. n Aleta Norris is a co-founding partner of Brookfield-based Living As A Leader, a leadership training, coaching and consulting firm. You may send questions to her at anorris@livingasaleader.com. To read all of her columns, visit the knowledge portal at www.livingasaleader.com.

MAKE CONNECTIONS. BUILD YOUR NETWORK. GROW YOUR BUSINESS.

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NONPROFIT DIRECTORY

Menomonee Falls Chamber of Commerce Inc. will host Profiles & Pathways: Dialogue with Today’s Business Leaders on Friday, Nov. 20, from 7:30 to 9 a.m. at Kohl’s Innovation Center, W165 N5830 Ridgewood Drive, Menomonee Falls. Among the featured leaders are Michelle Gass, chief merchandising and customer officer at Kohl’s, Catherine Jacobson, president and CEO of Froedtert Health, and Michael Lovell, president of Marquette University. Cost is $15 for members and $20 for non-members. For more information or to register, visit business.fallschamber.com/events.

SPOTLIGHT

The Waukesha County Business Alliance will host AMP! Why Coaching is the New Motivation on Thursday, Dec. 3, from 7:30 to 9:30 a.m. at Sheraton Milwaukee Brookfield Hotel, 375 S. Moorland Road in Brookfield. The event will cover the value of coaching and how it can impact motivation and talent development. Cost is $30 for members. Non-members should call to register. For more information, visit business.waukesha.org/events. The South Suburban Chamber of Commerce will host a Chamber Networking Breakfast on Wednesday, Dec. 9, from 7 to 9 a.m. at St. James Catholic Church, 7219 S. 27th St. in Franklin. Each attendee can give a 30-second introduction to the group, and the event focuses on networking. Cost is $15. For more information or to register, visit business.southsuburbanchamber.com/events. The Metropolitan Milwaukee Association of Commerce will host The Business Council Holiday Party on Tuesday, Dec. 8, from 6 to 9 p.m. at Highland Lanes, 5830 W. Vliet St. in Milwaukee. The free event includes optional bowling, appetizers and cocktails, along with networking and holiday cheer. For more information or to register, visit web.mmac.org/events. See the complete calendar of upcoming events & meetings.

BIZ NO T ES The Medical College of Wisconsin Two Medical College of Wisconsin female researchers were honored at MCW’s ninth annual Women in Science Awards Luncheon on Oct. 29. The recipient of the $10,000 Women Pioneers in Research Award for 2015 was Dr. Mary Eapen, professor of medicine (hematology and oncology) and senior scientific director for research operations in the Center for International Blood and Marrow Transplant Research. The recipient for this year’s $1,000 Edward J. Lennon, M.D. Award for an Outstanding Woman Postdoctoral Researcher was Sushma Kommineni, a postdoctoral fellow in pediatrics. In other MCW news, Dr. Elizabeth Ellinas, associate professor of anesthesiology and chief of obstetric anesthesia, was selected to participate in the 2015-16 Hedwig van Ameringen Executive Leadership in Academic Medicine Program for Women. Lastly, three MCW leaders received a Distinguished Service Award, which is MCW’s highest faculty and staff honor. They are Joseph Besharse, Marvin Wagner Professor, chair of the department of cell biology, neurobiology and anatomy, and research director of the Eye Institute; Richard Katschke, associate vice president of communications; and David Mattson, professor of physiology.

Dr. Carolina Conti MHS Health Wisconsin, a wholly-owned subsidiary of St. Louis-based health care company Centene Corp., presented its 8th Annual Summit Award to Dr. Carolina Conti, a board-certified internal medicine physician in Milwaukee. The award acknowledges health care profes-

www.biztimes.com sionals for providing exemplary care and clinical excellence to MHS Health members throughout Wisconsin. A single award is presented annually. Conti was recognized for her ongoing contributions to improve the care, quality and long-term health outcomes of MHS Health’s members. Winners of the annual Summit Award demonstrate superior performance in areas such as establishing a “patient-centered medical home” for new enrollees; providing routine preventive and well-care services for both adults and children; and offering open access to appointments and follow-up care after emergency room and hospital visits. MHS Health Wisconsin, founded in 1984, is a health maintenance organization that provides coverage for Wisconsin in BadgerCare Plus, SSI and Medicare Advantage. The health plan currently serves about 80,000 members.

WMEP and WEDC The Wisconsin Manufacturing Extension Partnership and Wisconsin Economic Development Corp, received a Silver Excellence in Economic Development Award for their 2015 project in the category of Sustainable & Green Development for communities with populations greater than 500,000 from the International Economic Development Council. The honor was presented at an awards ceremony on Oct. 6, during the 2015 IEDC Annual Conference. The organizations were recognized for The Wisconsin Profitable Sustainability Initiative, which demonstrates the range of economic, social and environmental benefits that can be realized by small and mid-size manufacturers through the implementation of sustainable business practices.

To have your business briefs published in a future issue of BizTimes Milwaukee send announcements to briefs@biztimes.com.

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St. Ann Center for Intergenerational Care Stein Campus: 2801 E. Morgan Ave., Milwaukee; (414) 977-5000 Bucyrus Campus: 2450 W. North Ave., Milwaukee; (414) 210-2450 http://stanncenter.org Year founded: 1983 Mission statement: St. Ann Center for Intergenerational Care provides community-based health and educational services for children, adults, the elderly and those with disabilities, while serving as a resource and support for caregivers. The center brings all ages together – from six weeks old to 100+. Youngsters learn to respect and socialize with all types of people. And older adults delight to the sights and sounds of children, improving their physical and mental health and sense of self-worth while making young, loving friends. The center, sponsored by the Sisters of St. Francis of Assisi, reflects Franciscan values in meeting the spiritual, psychological, social and physical needs of all who participate, regardless of faith, culture or ability to pay.

Primary focus: St. Ann Center provides day services for children and adults in one home-like setting. For adults, day services and overnight respite care offer an alternative to premature institutionalization.

Other focuses: St. Ann Center enhances quality of life for clients through art and music therapies; physical, occupational and speech therapies; massage; aquatics; emotional health programs; caregiver support groups; and at-risk teen mentoring.

Number of employees: 200 Executive leadership: »» Sister Edna Lonergan, founder/president

Board of directors: »» Craig Mackus, chairperson, Bucyrus International (retired) »» James Gormley, vice chairperson, Foley & Lardner »» Cary Cameron, First Weber Realty »» Doug Barnes, Zimmerman Architectural Studios »» Jacqueline Herd-Barber, community volunteer »» James Lenahan II, PricewaterhouseCoopers »» Jeffrey Kleczka, Kleczka, Prasser Kleczka Funeral Homes »» Jim Lenahan, Ludman Industries »» Linda Grunau, community volunteer

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»» »» »» »» »» »» »» »» »» »» »» »» »» »»

Marjorie Singer, community volunteer Peter Kordus. Building Service Inc. Praveen Rao, LeadStrong Raejean Kanter, The Falk Group PR Rev. Robert Gloudeman, Milwaukee Archdiocese (retired) Ronald Malone, Racine Correctional Sherry Husa, Managed Health Services Sister Helene Mertes, Sisters of St. Francis Susie Jelich Nevins, George’s Barber Sister Mary Louise Schramer, Sisters of St. Francis Sister Ann Kelley, Sisters of St. Francis Theresa Jones, Wheaton Franciscan Healthcare Timothy Sullivan, Bucyrus Co. (retired) William Reilley, Sr., Lakeside International Trucks

Is your organization actively seeking board members for the upcoming term? Yes What roles are you looking to fill? General directors; standing committee members on: Fund Development/Marketing Committee, Audit Committee, Mission Effectiveness Committee, Executive Committee, Nominating Committee, Capital Campaign Committee

Ways the business community can help your nonprofit: Skilled volunteering; sponsoring, attending and promoting fundraising events; touring to learn more about the center.

Key fundraising events: Center Stage Talent Show Tuesday, March 1, 2016; 6:30-9 p.m. Turner Hall Ballroom, 1040 N. Fourth St., Milwaukee A talent show spotlighting the gifts of people of all ages and abilities. Fulfilling the Dream Gala Summer 2016 BMO Harris Bradley Center, 1001 N. Fourth St., Milwaukee An inspiring evening of celebration including a dinner, live/silent auctions, entertainment and updates on St. Ann Center’s programs.

biz connections PER SO NNE L F I L E

■ Accounting Wipfli LLP, of Wauwatosa, appointed Bill Metzdorff a director of its Valuation, Litigation and Transaction Services Practice. Metzdorff has more than 33 years of consulting experience, having provided financial, accounting and economic evaluations to attorneys and their major lawsuits. He also has experience offering claims preparation services to insureds facing severe losses. Metzdorff is a certified management accountant and certified fraud examiner.

Advertising & ■ Public Relations Zizzo Group, of Milwaukee, has added Tinashe Ota as an associate front-end developer to its creative team. Ota has more than two years of experience in graphic design. He previously worked as a graphic designer for the City of Milwaukee and for 3D Molecular Design. He received degrees from both Lakeland College and the Art Institute of Wisconsin.

Send new hire and promotion announcements to personnel@biztimes.com

to Laughlin Constable from mobile ad/tech startup Digital Factory in Chicago, where he was CMO. He previously served as general manager of Fathom Communication’s Chicago office. He also held senior management positions at Starcom and Cramer-Krasselt in Chicago and at Lowe & Partners and Foote Cone & Belding in New York.

■ Architecture Madisen Maher Architects added J.D. Henning as architectural technician. He has 10 years of drafting experience. Henning previously held a technical architectural position with MSI General. AG Architecture has added Jeff Hoffmann as director of client relations. With more than 29 years of experience as a strategic planning specialist, Hoffmann serves as a client advocate throughout the planning process. His consulting and project management skills have supported the completion of senior living projects ranging from standalone assisted living facilities to continuing care retirement communities.

Nicholas Migan has been hired as an architect at Galbraith Carnahan Architects, located in Wauwatosa. Migan has 27 years of experience in architecture. He has developed a broad spectrum of experience in the Midwest and across the country with involvement in projects in health care, corporate and retail, as well as distribution centers, government/VA work, historic preservation and adaptive re-use.

■ Banking & Finance

Michael Baer has joined Laughlin Constable as its first chief marketing officer. Laughlin Constable is a national, full-service branding agency with offices in Chicago, Milwaukee, New York and New Jersey. Baer will split his time primarily between the Chicago and Milwaukee offices. Baer comes

She previously worked for Gould Evans in Lawrence, Kan. Roach has an architectural background consisting of higher education, athletics, sciences and civic work. Throughout Roach’s career, she has filled a range of roles, including designer, project manager, and project architect. At Eppstein Uhen Architects, she will focus on the health care market and will offer expertise and creativity in interior architecture to enhance the patient experience. Eppstein Uhen Architects has also added Adam Ruhland as a project specialist. Ruhland worked in the field of architecture in Minnesota, California, North Carolina, Washington and now Wisconsin, gaining exposure to a variety of architectural approaches, styles and best practices. His past experience is in the support of architectural documentation for medical office buildings, hospitals, laboratories and patient service centers. At Eppstein Uhen Architects, he will apply and share his health care industry experience.

Roach Ruhland Eppstein Uhen Architects in Milwaukee added Theresa Roach as project architect.

American Bank, of Waukesha, added Victoria Andes as an assistant vice president. Prior to joining American Bank, Andes served as a senior loan officer at PyraMax Bank. She has more than 30 years of experience in the financial industry. In her new role, she

will focus on residential real estate. PNC Bank has added Luke Kasten as a vice president and banking advisor for wealth management in Milwaukee. In this role, Kasten will offer deposit and loan solutions to high net worth clients. He will also contribute to a team centered on investment management, financial and estate planning, and trust. Kasten has more than 10 years of banking experience. Prior to joining PNC Bank, he was an assistant vice president and private banking relationship manager at U.S. Bank.

■ Building & Construction J.H. Findorff & Son Inc. has added Jeff Garretson as the director of business development in its Milwaukee office. Garretson has 15 years of experience in sales, customer service and operations management in the construction industry. As an addition to Findorff, he will be responsible for the overall direction of regional business and marketing efforts, such as strategic planning, relationship development, project proposals and client retention. Garretson most recently served as the vice president of business development for Berghammer Construction Corp., where he led all aspects of the company’s new business and marketing initiatives.

■ Engineering Brookfield-based R.A. Smith National has added Troy Hartjes as senior project manager in its municipal services division.

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biz connections PER SO NNE L F I L E Hartjes has close to 20 years of experience in municipal public works engineering. His career has included work in urban and rural roadway rehabilitation and construction, in Hartjes addition to sanitary sewer and water main system design. He also is experienced in stormwater conveyance systems, stormwater management, stormwater utilities, drainage plans and site development. He has helped clients with capital improvement budgeting and grant writing as well. In his new role, Hartjes will focus on client and project management, quality control, and design and organization of municipal engineering and land development projects.

■ Gaming Courtney Birmingham has been named director of marketing at Potawatomi Hotel & Casino. In her role, Birmingham will provide strategic direction to advertising, creative, public relations and corporate sponsorships. Birmingham has spent much of her career on the East Coast with stints at

Send new hire and promotion announcements to personnel@biztimes.com

casinos in Atlantic City and Connecticut. Most recently, she oversaw advertising and creative services for Foxwoods Resort Casino in Mashantucket, Conn.

■ Health Care Columbia St. Mary’s has added Dr. Christopher Weber, internal medicine and pediatrics, to its Germantown Clinic. Weber is board certified in internal medicine and pediatrics and specializes in weight management, HIV care, chronic pain and adult care of congenital diseases. He completed his medical degree in 2008 and an internal medicine and pediatric residency in 2012 – both at the Medical College of Wisconsin.

■ Hospitality & Entertainment Marcus Hotels & Resorts, a division of Milwaukee-based The Marcus Corp., has promoted Tom Mason to senior vice president of operations. Mason joined The Marcus Corp. in 2014 as managing director of the Grand Geneva Resort & Spa. He was then promoted to area vice president in 2014. His career in hospitality has spanned more than 30 years.

BIZ NO T ES Jeff Rusinow Jeff Rusinow, who founded Milwaukee’s first angel network and who has been a part of six successful startup exits over time, was inducted into the Wisconsin Investor Hall of Fame during a Nov. 4 dinner tied to the Wisconsin Early Stage Symposium. Rusinow was elected by a group of state investors that included the past three inductees: Dick Leazer, a founder of Wisconsin Investment Partners; George Mosher, a Milwaukee “super

director of marketing and public relations.

■ Legal Services

angel” investor; and Roger Ganser, a co-founder of Venture Investors LLC. Rusinow founded Silicon Pastures in 2000 and has directly invested in more than 35 startups. Rusinow is a founding donor of BrightStar Wisconsin Foundation and serves on the investment committee of the Wisconsin Super Angel Fund. He is the lead angel investor in three recent graduates from Gener8tor, a Wisconsin-based accelerator, and he serves on boards.

Koeppel King

Schuster Michael King, University of Wisconsin 2015, cum laude, has joined Goldstein Law Group S.C. as an associate attorney focusing on labor and employment law and corporate issues. The firm has also added Julia Schuster, Marquette 2015, cum laude, as an associate attorney focusing on labor and employment law and corporate issues. Simandl Law Group S.C., of Waukesha, has added James Panther as an associate attorney who will concentrate on labor and employment counseling and litigation. Panther completed his undergraduate degree at the University of Wisconsin-Madison and earned his law degree from Marquette University Law School.

■ Manufacturing Brett Berger has been hired as a senior designer in engineering by TLX Technologies, a Pewaukee-based manufacturer of electromagnetic solutions. Berger has more than 15 years of experience in full circle product design, from concept to production and final assembly.

■ Nonprofit Danceworks Inc. has added Linnéa Koeppel to its staff as the first full-time director of development. Elyse Cohn, who had overseen both the marketing and development strategies of the organization, has been named

BızTımes Media Presents:

Curative Care Network has appointed Julie Rogers vice president of marketing and communications. Rogers previously worked as a marketing executive for Aurora Health Care. She has also worked at a number of advertising agencies. In her new role, she will lead Curative’s brand-building, marketing, public relations and communications initiatives. Ebenezer Child Care Centers has named

Sharece DeVougas center coordinator for its Wauwatosa location. DeVougas has spent 15 years in the child care industry. She most recently was quality team leader at Knowledge University in Portland, Ore. At Ebenezer, DeVougas will be responsible for making sure center programming runs efficiently and is optimized to meet the development needs of children.

■ Professional Organizations The International Facilities Management Association – Southeast Wisconsin Chapter – has announced its executive board for 2015-’16. Members are: Jeff Rinderle, president; Scott Wollenzien, vice president; Tom Frederick, secretary; and Michael Bohn, treasurer.

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n GLANCE AT YESTERYEAR VOLUME 21, NUMBER 17 NOVEMBER 16 - 29, 2015 126 N. Jefferson St., Suite 403, Milwaukee, WI 53202-6120 PHONE: 414-277-8181 FAX: 414-277-8191 WEBSITE: www.biztimes.com CIRCULATION E-MAIL: circulation@biztimes.com ADVERTISING E-MAIL: ads@biztimes.com EDITORIAL E-MAIL: andrew.weiland@biztimes.com REPRINTS: reprints@biztimes.com SALES & MARKETING

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This photo, taken circa 1925, shows the Pabst Theater being cleaned by sandblast. The Pabst, located in downtown Milwaukee, was built in 1895 by brewing magnate Capt. Frederick Pabst and today frequently hosts shows and concerts. — This photo is from the Milwaukee Public Museum’s Photo Archives collection. Additional images can be viewed online at www.mpm.edu.

Sarah Sinsky sarah.sinsky@biztimes.com

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Shop ’til somebody drops

ordstrom is finally here! For years, shoppers in the metro Milwaukee area have clamored for Seattle-based Nordstrom Inc. to open a store in the region. Their wish finally came true with the recent opening of the new Nordstrom store at Mayfair Mall in Wauwatosa. A sellout crowd of 1,800 attended an Opening Gala for the store and hundreds more streamed through the doors on the store’s first day of business. The three-story, 140,000-square-foot store certainly is a high-class, upscale addition to the metro Milwaukee retail scene. It is probably one of the best, if not the very best, stores the region has ever had. Metro Milwaukee was the largest market in the nation without a Nordstrom store. It will be interesting to see if this notoriously thrifty community will provide enough business to support the store after the novelty wears off. The new Mayfair Collection shopping center, also in Wauwatosa, offers Nordstrom’s off-price alternative, Nordstrom Rack. 44

The Mayfair Mall Nordstrom should be a regional destination, attracting shoppers to make the trip to Wauwatosa, and it could help convince more Milwaukee area shoppers to spend their money here rather than in Chicago. The addition of Nordstrom Mayfair Mall Nordstrom certainly establishes Mayfair Mall as the premier shopping center in metro Mayfair Mall could put significant presMilwaukee. In addition to Nordstrom, the sure on Brookfield Square, located in bemall has added several other new stores tween the Wauwatosa shopping centers recently, including The Container Store. and the site of the Corners. Brookfield Meanwhile, it is good to see con- Square continues to enhance its offerstruction progressing at The Corners, ings, but it will face a lot of additional a $200 million lifestyle center develop- competition from these developments. ment in Brookfield that will have 400,000 Or will one of the new developments square feet of retail space, including a struggle to find its place? One retail real 140,000-square-foot Von Maur store, an- estate developer told me The Corners will other upscale department store that will be a failure because Chattanooga, Tenn.open its first location in the state. based CBL & Associates Properties Inc., Can our region support the addition which owns Brookfield Square, and Chiof two new high-end department stores? cago-based General Growth Properties The addition of The Corners, the Inc., which owns Mayfair Mall, have too Mayfair Collection and Nordstrom at much clout over national retail tenants B i zT i m e s M i l w a u k e e

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ANDREW WEILAND Editor BizTimes Milwaukee

and will block them from locating at The Corners. We shall see. It has been awhile since there has been a tenant announcement for The Corners. And that’s not all. We are still waiting to hear who will take the place of the Sears store that closed late last year at Bayshore Town Center. The Corridor, a mixed-use project under construction southwest of Bluemound and Calhoun roads in Brookfield, will have a significant amount of retail space. The area’s grocery industry is in a state of upheaval, with increased competition, including the introduction of numerous Meijer stores in the region and Costco building stores in New Berlin and Menomonee Falls. That’s a lot of new retail development in a region experiencing modest population growth. Something’s got to give. n

BIZTIMES AROUND TOWN n

biz connections

Get Smarter The annual BizTimes Milwaukee Get Smarter Talent Development Conference was held on Oct. 27 at Potawatomi Hotel & Casino. Attendees heard career development advice from a lineup of top area business executives and entrepreneurs and from a panel of “rising stars” future leaders. 1 Omar Shaikh of SURG Restaurant Group and Amy Hurwitz of iHeartMedia. 2

Jeanne Simmons, associate dean of the Graduate School of Management, Marquette University.

Qianqian Liu, Sara Slowinski and Elliot Young, all of Rinka Chung Architecture, and Katherine Samboy of Marquette University.

Arthur Flater of Central Office Systems, Debbie Seeger of Patina Solutions and Michelle Faretta of 360 Direct.

Tom Gorak and David Reinelt, both of J.F. Ahern Co.

Adam Kouhel of Marquette University and Matt Cordio, founder of Startup Milwaukee, Skills Pipeline and The Commons.

7 Milwaukee Public Schools superintendent Dr. Darienne Driver. 8

Corry Joe Biddle, executive director of Fuel Milwaukee, moderated the “Rising Stars” panel, which included Dustin Zick of Cramer-Krasselt.

Kelly Skendrelewski of GE Healthcare, Debbie Seeger of Patina Solutions and Amanda Kerkemeyer of GE. Photos by Paul Gaertner, White Dog Photography

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the last word Select those with the best explanations

Patrick Bieser President Northwoods Software 1572 E. Capitol Drive, Shorewood Industry: Web development, software engineering Employees: 35 www.northwoodsoft.com

B i zT i m e s M i l w a u k e e

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“I recently met with a Milwaukee business looking for a website redesign. They wanted a better ‘look’ to help improve sales. They didn’t have a large budget. “The president wanted a new look. The marketers wanted a better product list. The IT staff wanted an easy to use CMS. They showed me a huge website. ‘Can you make it look like this?’ they asked. “They wanted to make a smart spend with their modest budget and had enrolled in the school of ‘Interview Vendors’ to learn more about web design and marketing. “We don’t mind. It’s part of our job. But it is a bit like going to medical school by making appointments at the local urgent care center. “A few years ago, I had a similar problem. Our phone system was dying, so we needed a new one. I’m pretty smart about technical stuff, but after three meetings with phone vendors, my head was spinning. Phone guys will VOIP your PBX if you’re not watching. There was much we didn’t know. “In the end, we went with the vendor with the best explanations. We didn’t understand everything, but our vendor did, and we trusted them. “But back to the original point. “Usually, it’s not possible for us to share enough information or transfer enough knowledge for clients to make expert, likely-toimprove-leads, website redesign decisions. We spend a lot of time overcoming dark forces offering bad advice. At some point, our clients have to trust us.” n

ERICH SCHROEDER PHOTOGRAPHY

It can be time-consuming, confusing and frustrating to get the information you need. Northwoods Software president Patrick Bieser says it is OK not to understand it all. Just look for those with the best explanations.

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WISCONSINBIZ ECONOMIC DEVELOPMENT | RESEARCH & INNOVATION | BUSINESS GROWTH

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