River East Center
1515 SE Water Ave, Portland, OR 97214
9 290 mètres carrés
Description de l'actif
Jones Lang LaSalle Americas, Inc. (“JLL”) as exclusive advisor is pleased to exclusively offer for sale the fee-simple ownership interest in 200 S. Executive Dr. (the “Property”, "200 S. Executive"), located in the prestigious Brookfield submarket within Wisconsin's suburban office market. Designed by Mies van der Rohe and constructed in 1974, the Property features four stories of office space totaling 126,714 square feet. Situated on a 6.655-acre site, the Property boasts an attractive parking ratio of 4.22 spaces per 1,000 square feet to be utilized by tenants and visitors alike. The Property is an ideal candidate to be a headquarters location for an office user and divides well for multitenancy, as evidenced by an exceptional average occupancy rate of over 97% for more than 13 years since 2010. 200 S. Executive boasts an ideal location directly between U.S. Route 18 and Interstate 94, which provides incredible access to both downtown Milwaukee and General Mitchell airport. 200 S. Executive's location also provides immediate access to the Brookfield Square Mall, Brookfield Conference Center, The Corridor 66-acre mixed-use development, multiple country clubs, hotels, and numerous restaurants. The Property's premier building quality, ideal location in the Brookfield submarket and numerous area amenities create a preferred location for corporate users. The offering presents the exceptional opportunity to acquire a value-add premier headquarters office building in an irreparable suburban location. Additionally, the Property's development/redevelopment potential makes it an attractive covered land investment.
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Attributs
Superficie du bâtiment brute
11 772 mètres carrés
Année de construction
1974
Nombre d'étages
4
Zonage
B3
Places de parking
535
Média
Points forts de l'investissement
Headquarters Quality Asset
- The timeless Mies van der Rohe design features an attractive open lobby and an elegant exterior of structural steel and prominent floor-to-ceiling glass panels. The building boasts large, efficient floor plates measuring 31,679 square feet, among the largest in the Brookfield submarket.
Value-Add Profile with a Development/Redevelopment Potential
- The Property offers one of the largest premier contiguous blocks of office space available within the submarket. Paired with its flexible floor plates, the Property is well positioned to capture tenants of all sizes and requirements in the market.
- Value-enhancement potential through the development/redevelopment of the existing site with permitted use of office, retail, and parking.
- Ability to convert lower-level storage to executive heated parking with two potential options.
Prestigious Brookfield Location
- Brookfield is suburban Milwaukee’s largest and most attractive submarket, supported by strong demographics, employment, and corporate users, with multiple recent and ongoing lifestyle and corporate-focused developments that will further enhance the area.
- Over 500,000 square feet of recent development activity in immediate proximity to the Property.
- Irreplaceable transport accessibility.
Convenient Access to the Best Area Amenities
- The Brookfield Square Super Regional Mall, and the Brookfield Conference Center are located directly adjacent to the Property. Additionally, the Property's location provides convenient access to the Corridor, a 66-acre mixed-use development, various country clubs, hotels, and numerous restaurants.
Exceptional Leasing History
- Average occupancy of over 97% from 2010 to mid-2024, with no single year below 95%
Substantial Discount to Replacement Costs
- The replacement cost of similarly located asset would be in excess of $475 per square foot.
Contactez les courtiers
200 South Executive Drive (0 Propriétés)
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Dernière mise à jour
29 janv. 2025
