The two out-of-state owners of Park Place, an office park on Milwaukee’s northwest side, have put a portion of the property on the sale block.
Eight buildings and two development sites on the campus have been listed by CBRE Capital Markets. Patrick Gallagher, Eric Rapp, Max Schultz and Ben Walker are leading the Milwaukee-based team.
Westport, Connecticut-based Greenfield Partners and Somerset Properties Inc. of Lower Gwynedd, Pennsylvania own Park Place Office Park, which contains more than 1.5 million square feet of office space in 24 buildings along Highway 41.
The eight buildings listed for sale are 87 percent leased. They include:
- Park Place XI, a 80,569-square-foot, three-story building at 7800 N. 113th St. The building is fully leased to Aurora Healthcare.
- Liberty II, a 88,259-square-foot, single-story property at 11100 W. Liberty Drive, currently occupied by DentaQuest LLC.
- Park Place X, a 40,020-square-foot, single-story building fully leased to the Minacs Group at 11301 W. Lake Park Drive.
- Liberty I, a 86,723-square-foot, multitenant building at 11414 W. Park Place.
- Park Place IX, a 35,817-square-foot, single-story building at 11425 W. Lake Park Drive.
- Park Place IV, a fully-occupied, 36,522-square-foot building at 11900 W. Lake Park Drive.
- Park Place V, a 35,749-square-foot, multitenant building at 11950 W. Lake Park Drive.
- Park Place II, a single-story, 56,293-square-foot building fully leased to A.O. Smith Corp. at 12100 W. Park Place.
Two parcels totaling 8.32 acres are also included in the portfolio. CBRE has not listed the portfolio with an asking price.