Lisbon signs Lied’s deal with developers
Potential $9 million development

By Kelly Smith - Special to Conley Media

March 15, 2019

TOWN OF LISBON —The Town Board Thursday night approved the first step in a development plan that could lead to a $9.5 million, 175,000-square-foot, commercial building built on a portion of the former Lied’s Nursery Company land near the intersection of Town Line Road and Main Street, Sussex.

The board unanimously approved a letter of intent between the town and Springdale-94 North LLC that outlines the potential development of most of the 65-acre commercial site that the town purchased from local developer Jim Forester for $1.7 million in 2016.

The terms of the letter were initially discussed during a closed session Monday night.

A special meeting was called Thursday for the board to approve the letter.

Springdale-94 North LLC are business partners with the Briohn Building Corporation of Brookfield, according to company spokesman Joe Jursenas.

Briohn Building Corporation is a 40-year-old family-owned business that has developed, built, designed, and managed number manufacturing, commercial, retail medical and service company projects in Waukesha County and Lake Country, according to its website.

Jursenas told Conley Media that the letter of intent is an indication of the business partners’ intent to work with the town in the development of the property. “We have thought there was a great potential for that property for some time,” he said.

The letter divides about 58 acres of the property into three parcels.

The town will sell about 17 acres in “Parcel A” to the developers for $1 on the condition the developers construct a building with a construction cost valued at approximately $9.5 million.

According to the letter, the building will be both an office building and manufacturing facility of approximately 175,000 square feet.

The layout and dimensions of the proposed development will be subject to the town’s approval.

Town Chairman Joe Osterman told Conley Media the town is willing to virtually give the land to the developer because the building will immediately generate real estate tax revenues for a tax incremental financing district being used to finance public improvements for the town.

In addition, the developers will have the first option to purchase lands included in parcels B and C described in the letter of intent.

Jursenas said it is the business partners’ intent to exercise those options and fully develop the property.

However, there are about six to seven acres that the town will retain for Forester, according to Osterman.

The town purchased the land from Forester to prevent it from being annexed into Menomonee Falls.

For two decades, town officials had believed the abandoned nursery property had potential for redevelopment that could significantly increase the town’s commercial tax base.