ProHealth Care sold a Pewaukee office building to a Brookfield-based investment firm for $2.2 million, which is only about 20% of its assessed value.
With plans to move its headquarters from a nearby office building, the health care system purchased the building at N17 W24300 Riverwood Drive in the Riverwood Corporate Center in 2019 for $7.4 million. However, in 2020 the company changed its plans and put the building on the market, while continuing to lease office space at N17 W24100 Riverwood Drive, according to a company filing.
The 177,000-square-foot building at N17 W24300 Riverwood Drive was purchased by an affiliate of Brookfield-based
Decade Properties, which owns and manages more than 700,000 square feet of office space, several hotels and marinas, a waterpark, restaurants and undeveloped land, according to its website. Most of the firm's office space is located in Waukesha County.
Built in 1990, the building has an assessed value of $9.85 million, according to Waukesha County records. AT&T previously housed administrative offices at the building until 2016.
A ProHealth spokesperson confirmed that the company sold the building, but did not comment further.
Decade Properties did not immediately respond to request for comment.
