MILWAUKEE — Fiserv Inc. (NYSE: FI), a global payment and financial tech solutions firm, has unveiled its new corporate headquarters in downtown Milwaukee. The 170,000-square-foot office space serves as the new global base for the company, which is relocating from nearby Brookfield, Wis., about 13 miles west of Milwaukee.
The new Fiserv offices are part of HUB640, a mixed-use campus that also includes a small-format Kohl’s department store that opened in November. Other tenants include Eight Eleven Group, Abacus Architects and North Shore Healthcare, according to Founders 3 Real Estate Services, which is handling office leasing at HUB640. Chicago-based North Wells Capital LLC owns and operates HUB640.
As part of the move, Fiserv was awarded $7 million in TIF (tax increment financing) funding from the City of Milwaukee, under the condition that the company retain 93 percent of its employee base at its new office space.
“City of Milwaukee elected officials unanimously chose to partner with Fiserv on this project, and we are confident the decision will be applauded for many years to come,” says Milwaukee Mayor Cavalier Johnson.
The new office building is located at 600 Vel R. Phillips Ave., a site that formerly housed the Boston Store, a local retailer that closed in 2018, as well as offices for its parent company Bon-Ton Stores Inc. Before that, the parcel served as a storage and shipping hub due to its proximity to the Milwaukee River and Lake Michigan.
Today, the site houses the newly delivered office space for Fiserv, which is occupying multiple floors at HUB640. The space includes modern offices, a collaborative workspace called The Commerce Corridor and a client experience center, which is a tech-enabled space designed to host clients, prospective clients and training sessions for Fiserv employees.
Amenities at the Fiserv offices include the Clover Café, which brews local brand Colectivo Coffee, and The Point Downtown, a dining destination that serves breakfast and lunch and offers a 24/7 market with “grab-and-go” items. Other features include a gallery displaying art produced by the children of Fiserv employees, stadium stairs between floors, a centerpiece staircase, exposed Cream City brickwork and skywalk connections between the building and nearby 3rd Street Market Hall.
Fiserv is pursuing LEED certification for its office space. The Milwaukee Journal Sentinel reported in 2022 that the new headquarters will house approximately 800 employees at full operation.
Fiserv is a Fortune 500 company with approximately 40,000 employees globally. In 2019, the company acquired First Data Corp. in a deal valued at $22 billion. Fiserv’s history with the city of Milwaukee includes winning the naming rights for the Milwaukee Bucks’ home arena, Fiserv Forum, in 2018. The arena is situated about a half-mile north of Fiserv’s new offices along Vel R. Phillips Avenue.
Fiserv’s stock price closed on Monday, March 4 at $149.99 per share, up from $118.06 a year ago, a 27 percent increase.
— John Nelson