The Global Water Center building in Milwaukee’s Walker’s Point neighborhood was sold recently by an affiliate of Fond du Lac-based C.D. Smith Construction to an affiliate of SixSibs Capital Corp. for $11.9 million. SixSibs is the investment arm of the White family, which owns Milwaukee-based Rite-Hite. The building sits directly across South Third Street from the new Rite-Hite global headquarters campus and features a 44-seat auditorium and water testing and flow laboratory.
“We are strategically trying to acquire and possibly develop real estate in the neighborhood to take advantage of the value we are creating with the Rite-Hite project,” Greg Spanos, SixSibs managing director, said of the acquisition.
Long home to the Milwaukee Water Council, the 86,156-square-foot, brick and timber office building is nearly 88% leased to 14 tenants, including Xylem’s Sanitaire operations and Beckhoff Automation. Originally constructed in 1904, the historic building was completely redeveloped in partnership with the Milwaukee Water Council in 2013.
Price: $11.9 million
Seller: Water Accelerator LLC
Buyer: 247 Freshwater LLC
Address: 247 W. Freshwater Way
