Ryan Companies US, Inc. Acquires 11 Acres in Menomonee Falls; 146,000-Square-Foot Medical Office/Surgical Center Campus Planned
Naperville, IL (April 12, 2006) — The Chicago office of Ryan Companies US, Inc. has acquired an 11-acre site adjacent to the intersection of Appleton Ave. and Good Hope Road in Menomonee Falls, Wisconsin (suburban Milwaukee) and will develop a three building medical office and surgical center campus. Construction on Phase I will begin later this spring. Jeff Smith, President, Ryan Companies US, Inc. made the announcement.
According to Smith, Ryan Companies is recognized in Chicago for the development of industrial parks, retail centers and the Sears Centre (an 11,000-seat multipurpose sports and entertainment arena) in Hoffman Estates, and across the country for all types of projects, including office buildings. Ryan recently acquired a prime development site adjacent to its Chicago office (in Naperville) for future office development considerations.
“In the last 10 years, Ryan has developed a significant portfolio of suburban style office buildings throughout the Midwest , and across the country,” Smith said. “Market conditions in Menomonee Falls and the Milwaukee area are quite favorable for a medical office and surgical center campus. This opportunity, in a visible and accessible location, represents a great opportunity for Ryan Companies to become involved in the greater Milwaukee area.”
The first building will be a three-story 63,000-square-foot building, targeted to doctors and medical professionals, including surgical centers, serving the Milwaukee area. In moving forward with the development, Ryan Companies already has lease commitments from nine tenants totaling approximately 27,000 square feet.
“Whether you practice medicine or develop real estate, it is all about location,” said Brad Wilson, Vice President, Ryan Companies US, Inc. said. “This complex is at the center of a ring of seven hospitals all located within close proximity giving the complex immediate appeal to a variety of doctors and medical services offices.”
According to Wilson , ground will be broken and construction will begin on the medical office and surgical campus by mid-June. Tenants will begin moving into the building in early Summer 2007.
Menomonee Falls, located just northwest of Milwaukee, is the fastest growing suburb and is within the fastest growing county ( Waukesha ) in Wisconsin. Other developments, in progress or in varying stages of development adjacent to this site which include an already completed assisted living facility, Alta Mira Retirement Community, North Hills manor, an Alzheimer’s cancer facility and a retail center.
In designing the first building, and the entire campus, Ryan placed great emphasis on the quality of the architecture and building materials. Architectural features encourage an integration of traditional and contemporary design and a preference toward native materials rather than prescribing a particular style. Class A building materials being incorporated into the building’s design and construction include a structural glass curtain wall, brick, prairie stone, specialty concrete, architectural concrete masonry units and other comparable materials.
“The building is designed to make a crisp, distinct impression, allowing easy identification from several directions and at a distance,” Wilson said. “The image will be welcoming, healing and in keeping with the impression medical service professionals and related firms seek to portray.”
The design and finishes incorporated into the interior spaces will complement the materials used on the exterior and the needs of the medical community. Office suites already leased in the building range from 1,500 square feet to 9,000 square feet.
Subsequent phases of the complex include a second 63,000-square-foot office building and a 20,000-square-foot building.
Ryan Companies US, Inc. is a leading national commercial real estate firm offering integrated design-build and development as well as asset, property and facilities management services to customers. For more than 68 years, Ryan Companies has used a single-source approach that offers flexibility in defining the scope of a project and strength in providing effective, timely solutions resulting in a higher certainty of success. In addition to its Chicago office, Ryan has offices in Minneapolis, Minnesota; Phoenix, Arizona; San Diego, California; Tampa, Florida; and Cedar Rapid , Davenport and Des Moines, Iowa.