Riverfront Plaza, a 6-story office building located at 1110 N. Old World Third St. on the Milwaukee River in downtown Milwaukee is for sale.
The 108,671-square-foot building is currently 71 percent occupied. It is owned by a local investment group and is listed for sale by Patrick Gallagher and Matson Holbrook Jr. of Milwaukee-based Siegel-Gallagher.
Tenants in the building include Lucille’s Piano Bar & Grill and Ale Asylum Riverhouse.
The building was built in 1923 and was completed renovated in 1987, Gallagher said.
“I think (the investment group that owns the building) see that the office market is recovering from the recession,” he said. “It’s a good time to be a seller.”
The property could benefit from being located near the proposed new downtown arena for the Milwaukee Bucks and the ancillary development that the Bucks owners are planning around the arena, Gallagher said.
There is no asking price for the building. An offer due date has been set for May 6, Gallagher said.
“We’ve had four or five tours so far,” he said.
