Medical College of Wisconsin – Tosa Health Center

Details

Wauwatosa, Wisconsin
100,977 SF – total
40,977 SF expansion

 

Responsibility

  • At-Risk Development
  • Build-to-Suit
  • Design & Construction Management
  • Leasing
  • Property Management
  • Site Acquisition

 

Value Added

Purchase Date: June | 1997
Purchase Price: $20.9 million
Equity: $1.5 million
Sale Price: $52.7 million
Sale Date: December | 2018

  • Long time development partner and landlord
  • Purchased neighboring site for expansion space
  • Secured state grant

Irgens developed Tosa Health Center in 1998. The 60,000 square foot medical office building was constructed for the Medical College of Wisconsin (“MCW”) at a prominent location on a major intersection in a busy office and retail corridor. The successful development became an important clinic for the healthcare provider in a good demographic location with superior access and visibility.


Initial site acquisition was complicated because it was a site assembly (one site under tax foreclosure) of two troubled sites (the other site contaminated). Irgens assembled the site, came up with a brownfield remediation plan and secured a State of Wisconsin brownfield grant to help with remediation.


The initial occupancy consisted of MCW’s first off-campus primary care clinic on the first floor and MCW billing offices on the second and third levels. As medical use succeeded beyond expectations, the billing department was moved to another Irgens building and the second and third floors were redeveloped into specialty medical uses.


After years of occupancy and several lease renewals and building upgrades, MCW maximized its space in the building and had a strong need to expand its service offerings. Irgens, MCW’s long-time development partner and landlord, recognized this and started exploring possible solutions. The final solution involved both parties working closely together to plan for a 40,977 SF (total of 100,977 SF), three-story addition that would be connected to the existing building on all three floors of the building.


To pave the way for the project, Irgens controlled and then purchased the neighboring property to the south and demolished an older commercial building on the site. When construction for the expansion began, the project team worked effectively to minimize disruptions to the building so clinical services could remain operational.


Completed in April 2016, the expanded Tosa Health Center is home to a new plastic surgery center, medi spa and vein clinic. It also accommodates larger clinic areas for primary care, spine, psychiatry and hand care services. Together, these services allow MCW to meet the needs of more patients in the community and cost effectively provide these services in a convenient location.


This currently represents a total of 33 years of lease commitment by MCW.