The $9.6 million building has 30,000 square feet of modern office space, featuring views of Miller Park, and 125,000 square feet of warehouse and production space. About 150 people work in the building. Schultz and Haney expect the building to receive a LEED silver rating. LEED features in the building include: efficient lighting system, efficient HVAC system, thicker pre-cast concrete panel walls with insulation, an exercise area, a bike rack, hybrid parking spaces and a low flow water system. The energy efficiency features increased the cost of the building by about 1.5 to 2 percent, which Derse will recoup after about 10 years of lower energy costs, Haney said.
Schultz and Haney say they have received numerous offers to buy the Derse building, but they have no plans to sell.
“This is a long-term hold for HSI,” Schultz said. “This is a way of establishing ourselves in the development community.”
Looking ahead, HSI is looking to develop and purchase real estate, mostly industrial and multi-family properties. The firm also provides brokerage and property management services.
Unlike older more established firms, a new real estate firm such as HSI benefits by not carrying a lot of baggage from real estate deals that have gone bust when the real estate market collapsed in 2007.
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