100 East sale price: $78 million

Exceeds assessed value, but lower than last time it was sold

100 East sold in $416.9 million portfolio deal

Last updated on May 15th, 2019 at 05:01 pm

The 34-story 100 East office building in downtown Milwaukee was sold for $78 million, state records indicate.

100 East sold in $416.9 million portfolio deal
100 East sold in $416.9 million portfolio deal

Santa Monica, California-based Hertz Investment Group LLC recently purchased the building from Chicago-based Equity Commonwealth as part of a four-property, $416.9 million office building portfolio deal, the firms announced recently. But the sale price was not immediately disclosed for each individual building in the deal.

The 435,067-square-foot 100 East building, located at 100 E. Wisconsin Ave., is assessed by the City of Milwaukee at $72.46 million. It was built in 1988.

The building is 88.2 percent occupied. Tenants include law firm Michael Best & Friedrich and entertainment and hospitality firm The Marcus Corp.

The building was last sold in 2010 when Commonwealth REIT (the former name of Equity Commonwealth) bought it for $81.3 million.

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Andrew Weiland
Andrew Weiland is the editor of BizTimes Milwaukee. He joined BizTimes in 2003, serving as managing editor and real estate reporter for 11 years. A University of Wisconsin-Madison graduate, Weiland is a lifelong resident of the state. He lives in Muskego with his wife, Seng, and son, Zachary. He is an avid sports fan and enjoys coaching his son’s youth baseball and basketball teams.