Featured Deal: Sale of AT&T’s downtown Milwaukee office building

The new owner of the historic AT&T office building in downtown Milwaukee is a firm that specializes in redeveloping underperforming properties.

An affiliate of Reign Capital LLC recently bought the 20-story, class B office building at 722-740 N. Broadway. As of late June, it was not clear if the building would remain as offices or be converted to other uses.

Until recently, the building was technically fully occupied because it was owned by AT&T and not listed for lease. A 2017 marketing flyer from real estate brokerage JLL states AT&T is retaining only about 27,000 square feet. 

Address: 722-740 N. Broadway

Buyer: Reign CO1 Propco LLC

Seller: Wisconsin Bell Inc.

Price: $30.1 million

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Alex Zank, former BizTimes Milwaukee reporter.

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