Home Industries Real Estate Wauwatosa office building to be sold at auction

Wauwatosa office building to be sold at auction

By
Hunter Turpin
-
2675 N. Mayfair Rd. Image from LoopNet

A prominent Wauwatosa office building will be sold at auction. The 6-story, 102,000-square-foot building located at 2675 N. Mayfair Road is set to be auctioned on June 9 with a starting bid of $1.15 million, according to a listing on LoopNet. At 41% vacant, the building is being marketed as a “value-add” investment opportunity by

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Hunter Turpin
Hunter covers commercial and residential real estate for BizTimes. He previously wrote for the Waukesha Freeman and Milwaukee Journal Sentinel. A graduate of UW-Milwaukee, with a degree in journalism and urban studies, he was news editor of the UWM Post. He has received awards from the Milwaukee Press Club and Wisconsin Newspaper Association. Hunter likes cooking, gardening and 2000s girly pop.
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A prominent Wauwatosa office building will be sold at auction. The 6-story, 102,000-square-foot building located at 2675 N. Mayfair Road is set to be auctioned on June 9 with a starting bid of $1.15 million, according to a listing on LoopNet. At 41% vacant, the building is being marketed as a "value-add" investment opportunity by Colliers. The building has 15 tenants with a weighted average remaining lease term of 3.4 years and a weighted average tenure of more than 17 years, the listing says. Built in 1979, the building was purchased by Madison-based SARA Investment Real Estate, its current owner, in 2018 for $4.85 million. The property had a 2024 assessed value of $4.9 million, according to Milwaukee County records. According to the listing, SARA installed a new roof and condensing units on the building in 2018 and has new elevators scheduled for install. Earlier this year, the Trump administration's Department of Government Efficiency (DOGE) terminated the Food and Drug Administration's 6,700-square-foot lease at the building, according to DOGE's website.

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