01 Jul Milwaukee Business Journal: ProHealth Care buys Pewaukee building for future HQ
ProHealth Care paid $7.4 million for an office building in the same business park as its existing Pewaukee headquarters and plans to relocate the headquarters to the new site.
The building, which formerly was occupied by AT&T, “offers much more space to accommodate growth and will significantly reduce costs” compared with ProHealth Care remaining at its current leased space, said spokeswoman Ann Dee Allen.
The health care system acquired the building at N17 W24300 Riverwood Drive from U.S. Bank, according to a deed filed with the Wisconsin Department of Revenue.
AT&T had sold the building in March 2007 for the pre-recession price of $29 million and signed a 10-year leaseback. The property ended up in foreclosure and bank-owned, according to Trepp LLC.
Read the full article here.