Growing business: Northwestern Mutual hires contractors for new tower; leases space downtown

MILWAUKEE (WITI) -- Northwestern Mutual has announced nearly five dozen local and Wisconsin-based companies, including more than three dozen small business enterprises have joined the design and construction team for the Northwestern Mutual Tower and Commons. The new hires join the dozens of local companies and SBEs that completed previous work related to decoupling and deconstruction of Northwestern Mutual’s east office building, utility relocation, and other work to prepare for construction.

The companies will play prominent roles in bringing the 32-story, 1.1 million-square-foot project to life over the next three years, according to Sandy Botcher, head of Northwestern Mutual’s downtown campus development project.

“A tremendous amount of enthusiasm exists around this project. We’re excited to partner with dozens of companies and thousands of people who also call this city their home and will be able to say proudly that they played an important role in the largest construction project in Milwaukee in the past 40 years," Botcher said.

The companies will also help Northwestern Mutual meet its commitment to the City of Milwaukee to tap SBEs for 25 percent of the project costs and utilize city residents through the Resident Preference Program (RPP) for 40 percent of the hours worked on the project. As of June 30, 2014, Northwestern Mutual had exceeded both the 25 percent SBE and 40 percent RPP thresholds.

“From day one, we said we needed the community and our fellow businesses, especially local companies, to be a partner in this process. We believe those partnerships will lead the way in creating more jobs and moving our economy forward," Botcher said.

The new companies hired to work on the Northwestern Mutual Tower and Commons will perform work ranging from foundation, architecture and building automation, to plumbing, electrical and mechanical work.

A complete list of companies who are partnering with Northwestern Mutual can be found here.

Over the past several months, Northwestern Mutual partnered with its development manager, Hines, as well as Prism Technical and the general contractor team, Gilbane | C.G. Schmidt, to share the upcoming opportunities with SBEs and Milwaukee residents.

Botcher said the company proactively engaged local chambers of commerce, numerous industry representatives, and more than 100 community-based organizations to ensure the project includes significant participation from diverse segments of the Milwaukee community.

Additionally, 15 informational sessions were held to highlight contracting opportunities (including four sessions for SBEs and two matchmaking sessions), all of which were attended by more than 300 businesses and organizations. The company also worked closely with the Wisconsin Regional Training Partnership/BIG STEP and Milwaukee Common Council leaders to host a series of workforce fairs throughout the city aimed at connecting residents to apprenticeship preparation and career opportunities related to the development.

“Our focus has been and will continue to be providing as many opportunities as possible to local companies and SBEs and Milwaukee residents,” Botcher said.

Construction of the Northwestern Mutual Tower and Commons is scheduled to be completed by the end of 2017. The site is currently being prepared for vertical construction that is expected to begin in February when crews undertake a 24-hour concrete pour, the largest continuous pour conducted in the state of Wisconsin.

Once completed, the project will preserve 1,100 downtown jobs while adding 1,900 new ones. It will also welcome residents and visitors to the city and anchor Milwaukee’s lakefront development.

For more information about the Northwestern Mutual Tower and Commons, visit www.NorthwesternMutual.com/BuildingMKE.

Meanwhile, Northwestern Mutual has announced it is leasing three floors of a building on E. Wisconsin Avenue in downtown Milwaukee.

In an agreement that represents the largest new office lease in the past year (four quarters) for downtown Milwaukee, Northwestern Mutual will become the newest tenant at the 411 East Wisconsin building.

The financial services company will occupy 56,320 square feet of Class A space on the building’s seventh and eighth floors, as well as the lower-level concourse area. Northwestern Mutual’s move to the 411 building was necessitated by the need to accommodate its growing workforce.

A $17.5 million redevelopment of the building was one of the key drivers of the lease, which commences on or about March 1. When work is completed, the building will feature an updated elevator system, HVAC system, lobby, roof and adjacent parking structures.

“Northwestern Mutual is known for both its industry-leading ratings for financial strength, and its commitment to providing its employees exceptional working conditions, technology and amenities. We are thrilled to be a part of their standard of excellence,” Jeffrey Patterson, president and CEO of Riverview Realty Partners said.

The transaction came together in just 47 days and was brokered by Jim Cavanaugh and Matt Hunter (CBRE—listing brokers), and Steve Palec (Cresa—tenant broker). It will increase the occupancy of the 30-story high-rise from 78% to 86%. The 411 building has approximately 45,000 contiguous square feet of high-rise space still available on the 15th and 16th floors.

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