This view of the downtown Milwaukee Post Office along the
Milwaukee River looks
to the northwest.
Photo courtesy of DTZ/Barry
MILWAUKEE — The
Milwaukee Post Office on West St. Paul Avenue has been
sold to a Chicago-based investor and developer, R2
Companies, which eventually plans to turn the nine-acre
site into a multi-use development.
Matt Garrison, managing principal of R2 Cos., said he
considers the site to be “the best large-scale
redevelopment site in Milwaukee.”
The Barry Company, a commercial real estate company
headquartered in Milwaukee, was the broker for the sale
of the 1,105,000-square-foot post office building, 341
W. St. Paul Ave., which also has 1,500 feet of frontage
on the Milwaukee River. Kurt Van Dyke and Jim Young of
The Barry Company worked as the principal brokers in the
“The Post Office controls the building on a long-term
basis with a lease that has multiple options to renew,”
Van Dyke said in a statement. “We were encouraged when
three strong offers were generated almost immediately
from large out-of-state developers with an interest in
eventually developing the property to a transit-oriented
Garrison said R2 Cos. purchased the building for a
little more than $13 million.
“We purchased it ultimately because we would like to
redevelop it,” he said.
The Post Office, which occupies the entire building,
will remain for the next five years, at which point its
lease terms are up, but are negotiable. Garrison said
the St. Paul Avenue building is not a great fit for the
Post Office and he would anticipate the organization
wanting to move at some point.
In the interim, R2 Cos. is meeting with city officials
including the planning department, Garrison said, to
determine what’s best for the site.
Garrison said R2 Cos. is working with Gensler, a
commercial office building developer out of San
Francisco, who designed the Facebook headquarters, the
Shanghai Tower and the Currency House in Dubai.
The vision for the Post Office building is it would be
turned into a mixed-use development with possibly retail
on the first floor, office space, a hotel and
multi-family residential space.
The location along the river and near other great
neighborhoods in Milwaukee made the Post Office’s
location desirable for redevelopment, Garrison said. He
said he considers the area underdeveloped, which is
understandable considering the Post Office occupying
such a large area.
Knowing the Milwaukee Bucks will be staying in the city
and there will be investment in a new facility is also
“Milwaukee is and can become an even greater of a city,”
Garrison said, adding the investment in the city has
“inspired confidence in us and hopefully a lot of