Marcus Corp. scraps plans for downtown development

Hotel and theater operator has listed the site for sale

Hotel and theater operator Marcus Corp. is dropping its conceptual plans for a downtown Milwaukee mixed-use project and is instead listing the development site for sale.

The development site’s main portion is a 1.2-acre riverfront parking lot at 1301-1357 N. Edison St., which a Marcus affiliate bought in 2015 for $3.1 million.

It could be combined with a 23,268-square-foot green space, at 1301 N. Water St. , that Marcus bought from Milwaukee County in 2018 for $50,000.

Finally, one block of Edison Street which separates the two parcels could be vacated by the City of Milwaukee and become part of a future development site.

“We are still determining how to present the acreage given that a development would likely include the park and Edison street,” said Jim Barry, president of Barry Co. commercial real estate brokerage which is listing the site for Marcus Corp.

The firm also is still working on determining a listing price for the site, Barry said. There will likely be strong interest from prospective buyers, he said.

“This is one of the most appealing development properties available in Milwaukee, with an outstanding location and extensive Milwaukee River frontage,” Barry said.

A Marcus representative didn’t immediately respond to a request for more information about the sale, and about the company’s plans to eventually relocate its main offices from the 100 East office tower, 100 E. Wisconsin Ave.

Marcus is one of the main tenants in 100 East, which is being sold to a group that plans to convert it into around 350 apartments.

Marcus’ conceptual plans for the Edison Street site, known as Edison Place, called for a 20-story development that included restaurants and a health club on the ground floor extending to the riverfront, along with an eight-screen cinema.

The plans also called for five floors of offices, possibly including Marcus’ headquarters, above a sixlevel parking structure, topped by eight floors of residential space. The office and residential portions, along with the cinema, would have had street-level lobbies.

In 2018, a Common Council resolution proposed vacating North Edison Street from East Cherry Street to East Knapp Street.

But that resolution, a possible precursor to development, was later dropped.

CORP. / INPLACE DESIGN MARCUS The Edison Place mixed-use development’s conceptual plans included a Marcus theater and a 20-story office and residential building.