The Johnson Controls Innovation Center-Warren Johnson Engineering Lab building in Glendale has been sold to a Chicago-based real estate investment firm for $45.4 million, according to state records.

The two-story, 109,000-square-foot building, located at 2022 W. Florist Ave., just north of the Johnson Controls corporate headquarters, was built in 2024. It houses approximately 250 employees previously based at the company’s former downtown Milwaukee campus.

Johnson Controls and Milwaukee-based Weas Development collaborated with Mortenson Construction, Eppstein Uhen Architects (EUA), and CBRE Global Commercial Real Estate Services on the building project.

The building has now been sold by an affiliate of Weas Development to an affiliate of Chicago-based Syndicated Equities, according to state records.

Syndicated Equities is a private real estate investment firm that was founded in 1986. Since its inception, the firm has acquired more than $4 billion of real estate assets on behalf of its clients.

Weas Development, founded in 1997, is a real estate development and asset/property management company. According to its website, the firm has generated 2.2 million total completed square feet of real estate, and over $330 million in development value.

When the Innovation Center-Warren Johnson Engineering Lab building opened in 2024, Johnson Controls said that it “is equipped with state-of-the-art technology and resources that will enable Johnson Controls teams to develop and test the next generation of building controls.”

Credit: Andrew Weiland Johnson Controls’ Innovation Center-Warren Johnson Engineering Lab