A 176,610-square-foot office building located near the former Northridge Mall site on Milwaukee’s far northwest side has been acquired by the building owner’s lender in a deed in lieu of foreclosure action, according to state records.
The two-story office building, built in 1973, is located at 7800 W. Brown Deer Road. Tenants in the building include Weston, Massachusetts-based
Monster Worldwide Inc. and a Wisconsin Works office operated by Detroit-based
ROSS Innovative Employment Solutions. Wisconsin Works is a state government employment program within the Department of Children and Families.
The building was owned by an affiliate of Agoura Hills, California-based
The Miller Family Companies, a real estate business established in 1933 that is involved in real estate development, construction and investment.
It was acquired by an affiliate of Las Vegas-based
Kingsbarn Realty Capital, a real estate private equity firm.
The transaction was valued at $4.3 million, according to state records. City of Milwaukee records indicate the property has an assessed value of $11.3 million.
A
Colliers | Wisconsin listing for the building indicates that it has 130,313 square feet of available space, which would put its occupancy rate at only 26.2%. The listing says the building’s entire 81,850-square-foot first floor is available and 48,463 square feet on the building’s second floor is available.
New York-based Foot Locker Corporate Services Inc. previously had an office in the building. The company
eliminated its IT operational functions in the building in 2021.
The building is located just southeast of the former Northridge Mall site. Northridge Mall closed in 2003. City officials have been trying for years to take control of the blighted former mall property in order to tear it down and redevelop the site. The city is
hoping to finally take control of the former Northridge property by the end of this month and begin demolition later this year.
