Office building near airport sold for $2.1 million in online auction

Airport Atrium Center purchased by local investor

Airport Atrium Center

Last updated on May 15th, 2019 at 05:03 pm

The Airport Atrium Center in Milwaukee has been sold to a real estate investor for $2.1 million.

Airport Atrium Center
Airport Atrium Center

The three-story, 54,652-square-foot office building, across the street from General Mitchell International Airport, was sold last week to Greenfield investor Sanjay Azad, according to state records.

Azad purchased the property from Miami-based LNR Properties LLC.

The Airport Atrium Center was sold in an online auction with a starting bid of $800,000. The class B office building was built in 1990 and is 37 percent occupied, with another 13 percent of leases expiring in the next year.

The property is located on a 3.1-ace site at 5007 S. Howell Ave., and was listed by Cushman & Wakefield | The Boerke Company.

The building is assessed by the city for $2.8 million.

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