Foxconn Technology Group plans to buy the 611 Building in Milwaukee from Northwestern Mutual Life Insurance Co.
Representatives of Foxconn and Northwestern Mutual, as well as Gov. Scott Walker, are scheduled to announce details on the property acquisition Tuesday afternoon. The seven-story, 131,000-square-foot office building is assessed at nearly $11.5 million, according to city records.
The class B office building was constructed in 1964.
Foxconn previously announced plans to build a 20 million-square-foot manufacturing campus about 30 minutes south of Milwaukee in the village of Mount Pleasant. Related infrastructure work is already underway near the project site, and company officials expect to break ground sometime this spring or early summer.
The news comes less than a week after Mount Pleasant announced it was about to close on roughly 1,700 acres of land to make way for the Foxconn project, where the company will build LCD screens for electronic devices.
Once fully operational in the state, Foxconn plans to employ 13,000 people, while the construction project is expected to require 10,000 workers.