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Chicago Investor Acquires Milwaukee Offices
Milwaukee’s 222 E. Erie, an 85,000-square-foot, creative office building that was built as a bakery in 1896, has sold to Chicago-based R2 Companies for $9.65 million.
A JLL Capital Markets team of Jaime Fink, Jeffrey Bramson, Bruce Miller, Patrick Shields and Sam DiFrancesca represented the private seller and procured R2 as the buyer. Their colleagues, Christopher Carroll and Lucas Borges, secured $7.6 million in acquisition financing through a Chicago-based financial institution.
The four-story brick-and-timber 222 E. Erie is located in Milwaukee’s historic Third Ward, which has become a creative hub. The property was repositioned into creative office in 2006.
“R2’s continued investment within Milwaukee further demonstrates the strength and desirability of the market, particularly with regard to its unique stock of creative office inventory,” DiFrancesca said.
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- ◦Sale/Acquisition
