CBRE takes over management of 100 East and Milwaukee Center

Organizations:

CBRE Group Inc. is now providing property management services for 100 East and the Milwaukee Center, two of the largest office buildings in downtown Milwaukee.

Both buildings are owned by Equity Commonwealth, formerly known as CommonWealth REIT. In March, CommonWealth shareholders ousted the company’s leadership. Sam Zell became the new chairman of the office property real estate investment trust, which changed its name and moved its headquarters from the Boston area to Chicago.

The new leadership of Equity Commonwealth chose CBRE to replace RMR as the management firm for the real estate investment trust’s 43 million-square-foot portfolio, which includes the 100 East and Milwaukee Center buildings.

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CommonWealth REIT bought the 35-story, 432,092-square-foot 100 East Wisconsin Ave. office building for $81.3 million in 2010.

In 2008 CommonWealth, then known as HRPT Properties Trust, purchased the 28-story, 373,516-square-foot Milwaukee Center building at 111 E. Kilbourn Ave. for $53 million.

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