A.O. Smith – Lloyd R. Smith Corporate Technology Center


Milwaukee, Wisconsin

42,700 SF



  • Acquisition
  • At-Risk Development
  • Build-to-Suit & Lease
  • Construction Management
  • Development Management
  • Property Management


Value Added

Purchase Date: August | 2017
Purchase Price: $8.8 million
Equity: $1.9 million

  • Site identification
  • Competitive pricing
  • Exceptional design aesthetic

Irgens worked closely with A.O. Smith to make certain all of its objectives were achieved with their Lloyd R. Smith Corporate Technology Center. Dedicated to the development of new, energy-efficient products and processes, the research and development lab is intended to be the company’s global innovation hub. Located adjacent to the company’s world headquarters in Milwaukee, it initially looked as though the Center would be located elsewhere in a more utilitarian, nondescript location. Irgens advised A.O. Smith to consider a more prominent location that wouldn’t sacrifice the functional needs of the project.

After listening closely to A.O. Smith’s specific objectives, Irgens led the process to achieve project success by working with the City of Milwaukee to incentivize the retention of city jobs, securing easement rights with a neighboring property for a walking path and providing a fiber connection between corporate headquarters and the new Center. Irgens also obtained new markets tax credit financing, which resulted in lower rent for A.O. Smith. Every action Irgens took along the way pointed toward better overall results for the project and exceptional outcomes for A.O. Smith.