Home Industries Real Estate Featured Deal: Northwest side office building sale

Featured Deal: Northwest side office building sale

By
Cara Spoto
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Parkland Center, a 222,704-square-foot office building on Milwaukee’s far northwest side, was recently sold for $20.8 million, according to state records. The seller was a limited partnership affiliated with Griffin Capital of El Segundo, California. The new owner is a limited liability company affiliated with Workspace Property Trust of suburban Philadelphia. Griffin Capital bought the

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Cara Spoto
Cara covers nonprofits, healthcare and education for BizTimes. Cara lives in Waukesha with her husband, a teenager, a toddler, a dog named Neutron, a bird named Potter, and a lizard named Peyoye. She loves music, food, and comedy, but not necessarily in that order.
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Parkland Center, a 222,704-square-foot office building on Milwaukee’s far northwest side, was recently sold for $20.8 million, according to state records.

The seller was a limited partnership affiliated with Griffin Capital of El Segundo, California. The new owner is a limited liability company affiliated with Workspace Property Trust of suburban Philadelphia.

Griffin Capital bought the building in 2013 for $26 million. At the time, it was entirely occupied by Wells Fargo Home Mortgage, until it ceased its operations there in 2015.

Located at 11200 W. Parkland Ave., the building’s tenants include FIS, a financial software company; Global Industrial, a seller of industrial products and office supplies; EQ Unify, an investment recovery firm; and Davians Café and Catering.

Address: 11200 W. Parkland Ave., Milwaukee

Buyer: Galaxy IL WI LP

Seller: The GC Net Lease (Milwaukee) Investors LLC

Price: $20.8 million 

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