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T. Wall Properties: Developer bucks economic storm – completes new office building
12/8/2009

Contact: Terrence Wall, CEO
Phone: (608) 830-6301
Company: Johnson Bank
Contact: Greg Dombrowski, President
Phone: (608) 249-7800

Madison, WI. December 8, 2009 -- In the middle of an economic recession, one developer finds a way to bring success to the local business community. T. Wall Properties has completed a new three-story, 45,000 square foot office building in the American Center on Madison’s east side. The new building, estimated at $5.2 million including land and construction, will bear the Johnson Bank name. The bank will occupy the first floor in January 2010, and Horizon Construction Group, Inc. is leasing the third floor with plans to occupy in December 2009.

As T. Wall Properties put together the team for this project, they understood that securing a loan is always a challenge, particularly in the current credit environment. Johnson Bank made the loan, not just because they were anchoring the project, but because they had confidence; “Not every developer would have been able to secure this loan.” commented Greg Dombrowski, President of Johnson Bank. “T. Wall Properties’ strength lies in its partners and solid balance sheet which provide the company with the ability to maintain a significant capital reserve on top of working capital.”

T. Wall Properties has proven that even in this tough economy a company can grow when you have a team who can build an efficient, forward thinking project with a sound business plan. Nearly a hundred local construction jobs were created as a result of this single building project. Terrence Wall, founder of T. Wall Properties commented that construction bids were very competitive, “We received bids from as far away as Green Bay. Wherever possible however, the best local businesses were selected.” Horizon Construction Group, Inc. was hired as the General Contractor for the project. Key subcontractors included The Bruce Company, Capitol Mechanical, Central Ceilings, Endres Manufacturing (steel), Fitchburg Plumbing, Hatch Building Supply, Lake City Glass, Lycon (concrete), Nonn’s Flooring, Rural Masonry, Specialized Electric, and Wipperfurth Excavating.

The planning also included the leasing team who was able to secure customers to support the strategy for the building. According to Mr. Wall, “Securing enough tenants to pre-lease the building wasn’t easy. The original plan was for a four-story building. As the economy declined, we had to re-think the strategy and eliminate an entire floor so that the building would have a higher pre-leasing level,” Wall said. “The end result was actually a better building, more economical and less risky.”

Johnson Bank will be relocating from their existing east side location, just next door. “We look forward to moving into the new Johnson Bank Building which provides us with the additional space needed to meet our continued growth in this market. We have been a customer of T. Wall Properties at the City Center West development in Madison for years and are pleased that they have the ability to also meet our east side needs.” said Mr. Dombrowski. “Working with the T. Wall Properties team has been an enjoyable experience. This expansion represents our continuous growth in the Madison region. We are appreciative of the trust our clients have placed in us to help meet their needs during this challenging time.”

The building was designed by Mike Sobczak, Principal Architect with Plunkett Raysich Architects, whose offices are adjacent in the High Crossing Environ, a T. Wall Properties master planned development. The distinct design came from a collaboration of the architect and the developer, who asked for something different. “Viewed from above, the building is a rotated square with one corner sliced off to provide for a grand entrance,” according to Sobczak. One unique aspect of the building’s design is that each floor has an outdoor balcony on its eastern corner. The building features a two-toned brick exterior, with a 3,300 square foot colored decorative concrete entry plaza.

The new Johnson Bank building provides an amenity package of underground parking, a fitness center complete with shower rooms, and a board room in the lower level for all tenants to use. Additionally, a number of “green” features include: high performance windows extending from floor to ceiling, waterless urinals and dual flush toilets, low flow faucet, heat exchangers on hot air intakes, a computerized HVAC control system, and a construction waste recycling program. While implementing eco-friendly options into such large projects adds to the initial cost, the developer chose to stand by its green initiative; to become more energy efficient, environmentally conscious, and offer long-term cost savings for clients. “Given the economy, most tenants aren’t asking for green components anymore due to the additional cost.” Mr. Wall explained. “But we believe that in the long run, tenants will return to demanding green buildings, and so we continue our commitment to the environment.”

About T. Wall Properties:

T. Wall Properties is a Dane County based, award winning commercial real estate development firm, headquartered in Middleton, Wisconsin that owns more than 2.7 million square feet of office space making them one of the largest developers in Wisconsin. T. Wall Properties prides itself in creating walkable, mixed-use, green neighborhoods, fostering distinctive and attractive work communities with a strong sense of place, while encouraging community and stakeholder collaboration in each development.

The company has created and developed some of Dane County’s most prominent master planned business communities including City Center West, a 15-acre office park located along the West Beltline Highway, High Crossing Environ, a 115-acre office park located on Interstates 39/90/94; and The Center for Industry & Commerce, a 160-acre business park near the Dane County Regional Airport. T. Wall Properties is a privately held company with over 200 local investors and one institutional partner. http://www.twallproperties.com




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