South side medical office building sold for $5.95 million

An affiliate of The Atkins Companies, a West Orange, N.J.-based real estate development, investment and management firm, recently purchased a 26,521-square-foot medical office building at 3305 S. 20th St. in Milwaukee for $5.95 million, according to state records.

The building, constructed in 2000, sits on a 2.6-acre site. The property has an assessed value of $4.1 million, according to city records. It is located on the city’s south side near the Wheaton Franciscan Healthcare – St. Francis hospital.

“It’s a good location,” said David Zimmerman, chief financial officer of The Atkins Companies.

The building is fully occupied. Tenants include Lakeshore Medical Clinic and Wisconsin Surgery Center.

The Atkins Companies plans no major changes to the building and has added it as an investment property to its medical office building portfolio, Zimmerman said. The company now owns six medical office buildings, most located in the northeastern U.S.

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