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Metro Milwaukee Office Portfolio - Metropolitan Milwaukee, WI
Opportunity:
This seven building portfolio offers the combination of stabilized income
via diverse tenant rosters and rollover exposure at the Brookfield and Park
Place VII buildings, and upside opportunity with 22% more leasing of the Lincoln
Center buildings. Acquired for significantly below replacement cost, further
portfolio upside exists with rental rate increases in Milwaukee enhancing long-term capital appreciation of these assets.
View a detailed map of this property (MapQuest).
- Properties:
The Brookfield Properties: Four office/flex buildings
Park Place VII: One single-story office building
The Lincoln Center Properties: Two office buildings - Size:
The Brookfield Properties: 171,433 SF on 16.48 Acres
Park Place VII: 36,037 SF on 3.44 Acres
The Lincoln Center Properties: 121,249 SF on 6.79 Acres
- Built: 1984 - 1989
- Purchased: September, 2006
- Ownership: Westminster Brookfield LLC, Westminster Lincoln LLC, &
Westminster Park VII LLC owned 50% Fund VI, 50% Fund VII
- At Acquisition:
- Cost: $30,535,000
- Occupancy: 83%
- Cost per SF: $93
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