Chicago-based real estate developer and investor R2 Cos. purchased The Tannery building complex in Walker’s Point with plans to renovate the property.
The firm, which also owns the downtown Milwaukee Post Office building, purchased the approximately 250,000-square-foot, multi-building Tannery office complex from Madison-based Sara Investment Real Estate LLC for $25.4 million in early October, according to state records.
Improvements are planned for all common areas, restrooms and lobbies, said Max Meyers, principal and chief investment officer of R2 Cos.
“We plan to turn The Tannery into the premier creative office campus in Milwaukee,” Meyers said. “We believe that Walker’s Point offers the best mix of character retail, market-leading hospitality and affordable housing stock, which are the pillars of a great creative office market.”
Address: 700 W. Virginia St., Milwaukee
Buyer: R2 Cos.
Seller: Sara Investment Real Estate LLC
Price: $25.4 million
