The space is located at 1311 N. 6th St., Milwaukee, which was formerly occupied by Everest College.
Everest College is a private college owned and operated by Santa Ana, Calif.-based Corinthian Colleges Inc. The Everest College downtown Milwaukee campus opened in 2010 in the 2-story, 67,500-square-foot building northwest of North 6th Street and West McKinley Avenue. Everest College announced last week that it would close its downtown Milwaukee campus after giving all of its students the opportunity to complete their programs.
The building is part of the Haymarket Square development, developed by Dan Druml, the owner of Paul Davis Restoration. It is located three blocks north of MATC’s Downtown Milwaukee Campus.
“This agreement allows us to expand our exceptional academic programs in the School of Health Sciences,” said MATC president Michael Burke. “The health industry is the largest employer in Milwaukee County and the need for new health care professionals will continue to grow. This additional space will allow us to meet increasing student and employer demand.”
MATC will conduct limited classes in the new space beginning in January 2014. A full opening is projected for August 2014 and courses in several programs will be offered, including dental assistant, dietary manager, health information technology, medical assistant, medical interpreter and nursing.
MATC’s School of Health Sciences offers 28 associate degree, technical diploma and certificate programs on the Downtown Milwaukee, Mequon, Oak Creek and West Allis campuses.
The nine-year lease for the new space commences Aug. 1, 2013, and expires July 31, 2022, with base and additional rents totaling $6.6 million over the term of the lease and rent abatement for the first six months of the agreement. MATC also will purchase furniture, fixtures and equipment in the building for $500,000. General operating funds will be used to pay for the lease; capital funds will be used to purchase the furniture, fixture and equipment, the college said.
The additional space is a 30.5 percent increase over existing classroom and lab space for the college’s health programs.
“This lease gives the college the opportunity to increase its contracted training opportunities to ensure incumbent health care professionals receive continuing education and training as their respective career fields evolve,” said Burke. “Very few modifications need to be made to the existing space and we can immediately begin to address the anticipated shortage of health care professionals that is expected to grow over the next 5-10 years.”