Sale of 100 East Wisconsin closes
Newton, Mass.-based CommonWealth REIT has closed on its purchase of the 35-story, 432,092-square-foot 100 East Wisconsin Ave. office building in downtown Milwaukee.
The building was sold by Milwaukee-based Northwestern Mutual Life Insurance Co. Northwestern Mutual spokeswoman Jean Towell confirmed the sale of the building closed recently.
CommonWealth REIT announced recently in its second quarter report that it was in the process of buying the building for $81.3 million, or about $188 per square foot, to purchase the building.
CommonWealth REIT also owns the 28-story, 373,516-square-foot Milwaukee Center building at 111 E. Kilbourn Ave. in downtown Milwaukee.
The 100 East Wisconsin building is about 94 percent occupied. The tenants in the building include: Michael Best & Friedrich, which leases 112,684 square feet of space; Wells Fargo Bank, 44,670 square feet; Marcus Corp., 41,219 square feet; Cleary Gull Holdings Inc., 23,540 square feet and PricewaterhouseCoopers LLP, 22,894 square feet. John Hawks Pub is also located in the building.
Apartment complex sold for $1.1 million
Jomela Properties purchased a 57-unit, two-building apartment complex at 2319-27 W. Michigan St., Milwaukee, from Noonan Enterprises Inc. for $1.1 million. The property has an assessed value of $1.284 million, according to city records. The sale was brokered by Tom Shepherd and Mark Schnoll of Inland Companies.