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 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, he is a lifelong resident of the state. He lives in Muskego with his wife, Seng, their son, Zach, and their dog, Hokey. He is an avid sports fan and is a member of the Muskego Athletic Association board of directors.

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