“Our lease will begin at $500,000 a year, and that’s a very big number,” company president J. Paul Beitler said. “The only way we can reach that number is to have something that generates that kind of revenue. An office does that.”

Beitler III said the goal is to attract a large company to rent out the entire space, but the building’s design would also allow for individual tenants.

“The city would benefit most from attracting a large headquarters to the building, and it would be a full building occupancy that would generate the most short and longer term jobs and taxes, but it does have the flexibility to be a multi-tenant building,” Beitler III said.

Beitler added that a major corporation considering moving to downtown Madison would be able to name the building.

Plans call for the building to have amenities such as a fitness facility, conference center and a full wall LED display in the lobby that can be programmed to show scenes like a flowing waterfall. Additionally, plans also include a 200-car underground heated parking ramp.

“What this allows is the technical college can have one big asset on their land paying a strong maximized value ground lease for 98 years,” Beitler III said.