CBRE Arranges $28.75M Sale of Milwaukee Office Complex
CBRE arranged the sale of a 435,000-square-foot office complex in Milwaukee, Wisconsin. 100 East PropCo, LLC, purchased the property from Michael S. Polsky, Esq., the court-appointed receiver for Hertz Milwaukee 100 East Wisconsin, LLC, for $28.75 million.
CBRE’s Patrick Gallagher, Matson Holbrook, Bill Bonifas and Matt Cariello represented the seller in the transaction. “We’re excited for the buyer and the new life they will infuse into this classic asset in the heart of Milwaukee’s central business district,” said Gallagher. The tower was 46.5% occupied at the time it was marketed for sale.
The 35-story building at 100 E. Wisconsin Ave. is in the Downtown East submarket, three blocks from the Third Ward and proximate to I-794 and I-43 interchanges. According to CBRE research, Milwaukee had the fifth-lowest vacancy at 3.1% out of the top 69 multifamily markets in the U.S. in Q2. The property was built in 1989 and has direct access to the RiverWalk.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.