Foxconn Technology Group may be considering buying a six-story building in downtown Madison across the street from the Wisconsin State Capitol.
A new company called FE One West Main Madison LLC recently registered itself with the Wisconsin Department of Financial Institutions. As the address of its registered agent, that same entity lists a building Foxconn bought in Milwaukee for its North American Headquarters, according to the filing. And part of the company’s name – One West Main – corresponds with a six-story building owned by BMO Harris Bank at 1 W. Main St. in Madison, which is just south of the state capitol. The building has an assessed value of $4.9 million, according to Dane County property records.
Foxconn has registered other LLCs named after the addresses of properties it later bought. For instance, late last year a company linked to Foxconn called FE Watermark LLC purchased 10 condo units in the Watermark building in Green Bay. In Eau Claire, FE Haymarket LLC bought three condo units in the city’s Haymarket landing building. The latest LLC filing and others also contain the letters “FE.” The company used the code name “Flying Eagle” to refer to its development plans in Wisconsin. The company has announced plans to turn both properties into innovation centers.
Although Foxconn said in a statement on Wednesday that it is continuing to search for real estate in Wisconsin, it did denied that the registration of the entity was a direct sign that it would buy the building.
“Foxconn can confirm its ongoing search for real estate properties in the state of Wisconsin – for lease and/or acquisition purposes,” the company said in an official statement. “To facilitate such process, Foxconn has registered a number of LLC’s as part of its expansion of the Wisconn Valley Innovation Network. Facilities of this innovation network are integral to Foxconn as part of its initiative to foster and attract talent and connect with supply chain partners throughout the Badger state. Registration of any LLCs does not automatically suggest a real estate transaction would take place. Further announcements about any Foxconn Place location will be made in due course.”
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