June 18, 2018
Taiwan-based Foxconn confirmed that its North American headquarters will be in Milwaukee, WI. The electronics manufacturer acquired a 132,806-square-foot building at 611 E. Wisconsin Ave. in downtown for $14.95 million from Northwestern Mutual Life Insurance Co.
In addition to accommodating 500 employees and virtually all of Foxconn’s corporate functions, the seven-story building will also house an innovation center for startup companies developing technology relating to Foxconn’s high-resolution LCD screens. The company is also planning to invest $10 billion to build a 20-million-square-foot LCD panel plant in Mount Pleasant, WI for 13,000 employees.
The two-acre site in Milwaukee includes the office building as well as a large parking lot, which offers Foxconn the potential to develop for future growth. For now, it is seeking proposals to renovate the existing building. The property is in a thriving area, east of the Milwaukee River, now undergoing an historic renaissance.
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Tags: Acquisition, Office
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