Last updated on May 15th, 2019 at 04:59 pm
A local investment group purchased an office building in the Bishops Woods office park in Brookfield for $4.5 million, according to state records.
Veer Karri, a Menomonee Falls IT consultant, who is registered to Corporate Woods LLC, which purchased the property, said he plans on keeping the current tenant mix at the building, located at 375 Bishops Way. It is 98 percent occupied with tenants including Paychex, SysLogic and Lawrence, Allen & Kolbe.
Karri and his partners bought the two-story, Class A office building from Somerset Properties. The building is assessed by Waukesha County for $4.5 million.
Eric Rapp and Patrick Gallagher in CBRE’s Milwaukee office and Judd Welliver, based in Minneapolis, arranged the sale on behalf of Somerset Properties, which will retain management of the building.
“Corporate Woods is great fit for investors because it’s a well-located asset in a mature
business park with high quality tenants,” Rapp said. “The sale demonstrates that suburban
multi-tenant office sales are picking up and trading will continue in 2017.”
Karri, who said he owns other office properties and a strip mall on Bluemound Road in Brookfield, said he plans on using the building as an investment property.