MENOMONEE FALLS, Wis.-Kohl’s has reached an agreement with the village government here that will lead to the development of a second corporate campus.
Under the terms of the agreement, according to a Kohl’s statement, the retailer will assume ownership of about 100 acres of vacant land in the Woodland Prime office park and acquire a small office building adjacent to the vacant land. In exchange, Menomonee Falls will assume ownership of Kohl’s distribution center here. Kohl’s has the option to develop the vacant land as incremental office space for up to three years.
Kevin Mansell, Kohl’s chairman, president and CEO, said that while the company’s preference was to remain in Wisconsin, it had studied options to develop a campus outside of Wisconsin before deciding that the Woodland Prime site “gives us the room we need to satisfy our business needs for decades to come.” The transaction is expected to close this fall.