Brookfield office building sold
private investor from California recently purchased Chancellory Park II, a three-story, 85,000-square-foot office building at 350 N. Sunny Slope Road, Brookfield, in the Bishop’s Woods Office Park, from 350 North Sunny Slope Road Holdings LLC.
The sale price was not disclosed. However, the building has an assessed value of $11.873 million, according to Waukesha County records.
The building is fully leased to New York-based Thompson Reuters Corp.
The seller was represented by Kenneth Braden of Milwaukee-based Cassidy Turley Barry, and Michael Hanrahan and Paul Hilton of St. Louis-based Cassidy Turley. The buyer was represented by Craig Tomlinson of Tulsa, Okla.-based Stan Johnson Co.
The sale was completed as part of a 1031 exchange, a section of the federal tax code that allows capital gains taxes for a property sale to be deferred if the proceeds from the sale are used to purchase another property of equal or greater value. The buyer recently sold a large multi-family residential building in California, Braden said.
