Molzer Development Newsletter #7

Last week, I embarked on an impromptu trip to Wisconsin with some of my partners on The Aladdin project, and it was an unforgettable blend of discovery, relationship-building, and real estate exploration. This journey was prompted by three key reasons:

Exploring New Territory

Surprisingly, I’d never set foot in Wisconsin before, so it was long overdue. The chance to finally experience the state firsthand was something I couldn’t pass up, and I was excited to see how Wisconsin might fit into our broader vision for growth.

Connecting with Partners

Two of my partners on The Aladdin project, Max and Hunter, are based in Wisconsin and often make the trip to Kansas City for work. This was a chance to see their world up close, meet their families, and gain a deeper understanding of the communities and spaces they call home. It’s incredible how much you learn about your team when you step into their environment.

Deals, Market Research, and Learning

While the first two reasons were inspiring, this trip’s real driver was the opportunity to explore Wisconsin’s market for potential investments and learn from the projects reshaping the region. Thanks to Max and Hunter’s local knowledge, I got an immersive tour through both major cities like Milwaukee, Pewaukee, La Crosse, and Madison, as well as the hidden-gem towns in between. This included scouting four stabilized acquisition projects and several promising ventures, connecting with industry peers, and getting firsthand insights into ventures I’ve long admired from afar.

Highlights of the Projects and the City

$200M Adaptive Reuse Project in Milwaukee

One of the most impressive sites we visited was a $200M+ adaptive reuse project in the heart of Milwaukee, a prime example of innovation in historic preservation. Originally a bustling mall, this complex is being transformed into a mixed-use development that blends retail, class-A office spaces, and high-end apartments. Touring this site was eye-opening—not only because of the sheer capital involved but also because of the vision required to breathe new life into a space that holds a rich place in Milwaukee’s history. The design integrates modern amenities with preserved architectural details, creating an environment where people can live, work, and shop in a way that honors the site’s legacy while driving future growth.

Milwaukee’s Third Ward and Milwaukee Public Market

Downtown Milwaukee reminded me of Kansas City, especially the Third Ward. Once an industrial hub, the Third Ward has undergone a major transformation into a vibrant economic zone. Now it features high-rent apartments, thriving retail stores, and dynamic office spaces within beautifully restored historic buildings. The Milwaukee Public Market is a prime example of this transformation—a bustling space packed with local vendors offering everything from fresh produce and seafood to Wisconsin’s famous cheese curds, coffee, and artisanal chocolates. It’s a paradise for any food lover and a landmark that embodies the neighborhood’s mix of history and modernity.

3rd Street Market Hall

Another highlight was touring the 3rd Street Market Hall, formerly known as the Grand Avenue Mall. This site has transitioned from a once-busy shopping destination in the 1980s and 90s to a new urban landmark. Developers have put in extensive capital to reshape this space into a vibrant mixed-use area, with 95% of its class-A office spaces leased, 20 unique food vendors, and an adaptive reuse of the mall storefronts into highly sought-after apartments. A particularly innovative feature was the transformation of old storefronts by adding rear-loaded corridors, a design that maximizes space and creates a seamless flow between residential and commercial areas.

The Wisconsin Experience

Every part of this trip, from the backroads we drove for market research to the local brokers we met, was intentional. Wisconsin’s beauty and potential as a development hub were apparent at every stop. This trip wasn’t just about scouting new investments—it was about experiencing the state’s unique charm, understanding its markets, and building meaningful connections that will guide future projects.

In short, my time in Wisconsin was both inspiring and insightful, leaving me energized and ready to bring new ideas back to The Aladdin project and beyond.

Travel = Opportunity

While many people take vacations to relax and unwind, I’m at a point where my travels are deeply focused on growing relationships, advancing my business, and creating memorable experiences along the way. There’s something invaluable about taking the initiative to cultivate your own connections, opportunities, and adventures—you just can’t put a price on it. That doesn’t mean you can’t have a ton of fun at the same time.

I’m grateful for the freedom to travel, seek new prospects, execute ideas, and genuinely enjoy the process. Are there obstacles along the way? Absolutely. Are all days or weeks smooth? Not by a long shot. Each city has its unique challenges, from local politics to logistical setbacks, that inevitably become part of the work. But is it all worth it? A million times, yes.

If you’re not into problem-solving, navigating political landscapes, putting projects first, exploring new markets, getting hands-on, and having a blast in the process, then development might not be the path for you.

Fortunately (or maybe, unfortunately!), I know that, at the end of each day, the work I’m doing is making a difference, and I wouldn’t trade it for anything.

Life is meant to be enjoyed. Loving what you do, who you are, and the people you surround yourself with is the ultimate way to make every moment count.

That’s it for this edition of Molzer Development Newsletter.

As always, if you have any questions about Kansas City, development, or if you’re interested in collaborating on future projects as an investor or partner, feel free to reach out. I’m working on some exciting new projects, and I’d love to chat with you about them.

Godspeed,

Zach Molzer