ASHWAUBENON (NBC 26) — From a board game to reality: A local CEO said the game of Monopoly inspired his real estate aspirations at a young age. Now, his dreams have brought him to a 145,000 sq. ft. building in Ashwaubenon — the former site for American Family Connect Insurance Agency.
- Video shows an exclusive look inside the vacant, 145,000 sq. ft. building in Ashwaubenon that will feature a host of businesses, a fitness center, and pickleball courts.
- The building was bought by Park Place Holdings, a local real estate company out of De Pere.
- CEO Caleb Hayes shares the plans for the building and the inspiration that drove the company towards the opportunity.
(The following is a transcription of the full broadcast story)
"It's a blank canvas and we're just painting it the way that each tenant needs," Caleb Hayes, Park Place Holdings CEO, said.
A blank canvas for U.P. native Caleb Hayes.
His real estate ambition started at a young age, wanting to buy his first property as a high school sophomore.
"My dad said no you're in all these sports. Do sports, and once you graduate, you can buy properties," Hayes said.
So he did. He bought his first property as an 18-year-old.
After a short construction stint in Chicago, Hayes traveled back north and created Park Place Holdings, a real estate company that develops business rentals.
"I played way too much Monopoly as a kid, that's why it's called Park Place Holdings," Hayes said.
He also has another company called Boardwalk Properties, which is also inspired by the popular board game.
Hayes built a team and invested time into his craft, eventually landing on a vacant 145,000 sq. ft. building at 3500 Packerland Dr., which is the former home of American Family Connect Insurance Agency.
"(We want to) break it up, but yet have it be a great little center for all the amenities that people can take advantage of," Hayes said.
Hayes said offering health and wellness spaces to tenants is also a priority. The building will feature a fitness center, a coffee shop, and a pickleball court.
Hayes said he wants those facilities to be open for the public. HE also said the goal is to house 10 to 20 businesses in the building.
"We want this really great, robust mix," Hayes said.
Each space, he said, will be customized to each business's desire.
"This is just where I've been graduating to and now our team gets to take down a big building like this where five years ago, we wouldn't have been able to imagine it, which is fun," Hayes said.
Hayes said spaces in the building are already in high demand and has been negotiating with several companies.
He said he hopes the project will be complete within the next two years.
