CBRE Arranges Sale of Milwaukee Office Complex for $28.75M

CBRE successfully arranged the sale of a 435,000-square-foot office complex in Milwaukee, Wisconsin for $28.75 million. 100 East PropCo, LLC purchased the property from Michael S. Polsky, Esq., who was appointed as court receiver for Hertz Milwaukee 100 East Wisconsin LLC by the court. Patrick Gallagher , Matson Holbrook , Bill Bonifas and Matt Cariello represented CBRE in this transaction on behalf of the seller.
Gallagher commented: “We’re delighted that our efforts have resulted in successful sale of this classic asset located at heart of Milwaukee’s central business district to its new owner who will bring fresh life into it.” At time when it was marketed for sale 46.5% occupancy rate had been reported by CBRE research .
The 35-story building is situated at 100 E Wisconsin Ave and falls under Downtown East submarket which is just three blocks away from Third Ward with easy access to I-794 and I-43 interchanges as well RiverWalk . According to Q2 report published by CBRE Research , out 69 multifamily markets across US; vacancy rate recorded lowest i..e 3.1% only in city’s market area making it fifth best performing market among all others surveyed during same period