HSA Bank: Signs lease with Schlitz Park, moving 100 employees to downtown

HSA Bank Signs Lease with Schlitz Park Moving 100 Employees to Downtown

Milwaukee, WI, June 11, 2014 – Schlitz Park announced today that HSA Bank, a division of Webster Bank, N.A. (NYSE: WBS) and a leading provider of consumer-directed health savings accounts, has signed an initial lease for 16,000 square feet of space on the second floor of Schlitz Park’s RiverCenter building at 1555 RiverCenter Drive. Based in Sheboygan, WI, HSA Bank will strengthen its Milwaukee presence when approximately 100 employees move to Schlitz Park in August.

With $2.5 billion in total account footings, HSA Bank provides tax-advantaged health care savings plans to about 600,000 consumers nationwide. Earlier this week, HSA Bank was named one of southeastern Wisconsin’s top workplaces by the Milwaukee Journal Sentinel. Kiplinger’s Personal Finance named HSA Bank as the ‘Best Health Savings Account’ in the publication’s ‘Best of Everything 2013’ issue in December.

Originally founded as the State Bank of Howards Grove in 1913, the bank name was changed to HSA Bank in 2004 and acquired by Webster Bank, N.A., in 2005. HSA Bank was one of the first entrants in the healthcare savings account industry and in 2008 became the first administrator to exceed the half billion dollar mark in deposits and reach 200,000 active accounts.

“We continue to outpace our growth estimates. At Schlitz Park, we will have the flexibility and space to handle our current needs with room for expansion to support future growth,” said Charles “Chad” Wilkins, EVP of Webster Bank and head of HSA Bank. “Schlitz Park is a great location. The facilities, buildings and all of the amenities will help us attract new talent.

“Our employees will appreciate the abundance of natural lighting, plenty of free parking and the proximity to downtown restaurants and entertainment during and after work,” Wilkins continued. “The fact that there is dining on site, the riverwalk outside and easy access to public transit will make us an even more attractive place to work.”

“Milwaukee is a great place for business growth and HSA Bank will find Schlitz Park an ideal place to expand its operations,” Mayor Tom Barrett said. “As Schlitz Park adds tenants, it is also adding vitality to downtown Milwaukee. HSA Bank’s move is an affirmation that downtown Milwaukee is the center of economic activity in the state.”

Previously announced new tenants UMB Fund Services and RDA Enthusiast Brands begin their moves to Schlitz Park later this month and into July. RDA will bring about 200 employees from Greendale to Schlitz Park’s Bottlehouse A building while UMB’s 250 employees will move into the Stock-House and Executive Building.

“Schlitz Park is quickly becoming the place to locate for growing companies that are leaders in their sectors and looking to add smart and energetic employees that want a downtown work and play environment,” said Gary Grunau, Schlitz Park’s co-developer. “HSA Bank’s move and planned expansion is great news for the downtown and Milwaukee economy.”

RFP Commercial, Inc.’s Ned Purtell, partner, and Jenna Maguire, broker associate, representing Schlitz Park, and JLL’s Drew Saunders, managing director, and Dan Jessup, executive vice president, representing HSA Bank, negotiated the HSA Bank Schlitz Park lease.