Corporate Tax

GE Healthcare Withdraws Itemizing for Waukesha Company Campus

GE Healthcare’s corporate campus in Waukesha is no longer for sale, according to a company release.

The 561 hectare site was listed by CBRE earlier this year. The company campus with lots in the cities of Pewaukee and Waukesha was built in 1973 and only expanded in 2005.

In September 2020, the company announced a $ 50 million investment in its existing West Milwaukee facility. At that time, the company also announced its intention to sell portions of the Waukesha campus off Interstate 94.

GE Healthcare previously acquired an 87,000 square foot building adjacent to its existing facility at 4855 W. Electric Ave., West Milwaukee.

On November 30, the company put a message on a reporter that it was sending employees an explanation why GE Healthcare had withdrawn its listing.

“We are flexible about our expansion efforts in order to meet the needs of our customers,” said the company. “Over the past few months we’ve seen a surge in CT demand, and our manufacturing teams (Electric Avenue) have prioritized customer needs while advancing plans to expand the site.

“Given our needs for the CT business and after careful consideration, we have decided to remove the Waukesha Campus from the real estate market at this point and intend to put the property back on the market at a more convenient time for the CT business and electrical engineering to bring avenue site. “

The campus, which consists of seven buildings, covers more than 1.23 million square feet, 53% of which are for office use and 47% for industrial use, according to a listing by CBRE. According to CBRE, there are more than 3,000 on-site parking spaces, a stand-alone fitness center, and excess land with future development potential.

GE currently uses the property primarily for its magnetic resonance imaging, computed tomography and x-ray businesses.

At this point in time, no sales price was quoted by CBRE. The 10 parcels for sale were valued at more than $ 45 million, according to Waukesha County tax filings.

Contact Evan Frank at (262) 361-9138 or evan.frank@jrn.com. Follow him on Twitter at @Evanfrank_LCP.

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