2-Tenant Med Office - Fox Point, WI

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the fee simple interest in a multi-tenant property located at 7950 N Port Washington Rd, Fox Point, WI ("Property" or "Asset"). The Property is occupied by Children's Wisconsin and Park Pet Hospital, operating on net leases with a weighted average lease term (WALT) of 7.2 years.

Children's Wisconsin, the anchor tenant, occupies 11,096 SF (71% of the total space) and recently executed an early lease extension, demonstrating their commitment to the site, lengthening the lease to have 7.6 years remaining. Their lease includes 2.0% annual rent increases starting 10/1/2027 and two 5-year renewal options. As the largest children's healthcare system in Wisconsin, Children's Wisconsin boasts an Aa3 credit rating from Moody's and reported operating revenues of $1.5 billion in FY2023. The organization operates over 40 care sites, including two hospitals, and employs more than 5,000 staff members, including 750+ pediatric specialists.

Park Pet Hospital, part of Blue River PetCare Group, occupies the remaining 4,505 SF (29% of the total space) with 5.6 years left on their lease. Their agreement includes 2.5% annual rent increases and two 5-year renewal options. Blue River PetCare, who guarantees the lease, is a leading veterinary care provider managing over 100 hospitals nationwide. Park Pet Hospital, established in 1957, has a long-standing presence in the community, offering a wide range of veterinary services including wellness programs, medical services, surgery, and dental care.

The Property is strategically located along the highly trafficked I-43, which sees 85,000 vehicles per day. It's situated in an affluent area with an average household income of $154,726 within a 1-mile radius. The nearby Bayshore shopping mall, ranking in the top 1% of shopping centers nationwide, attracts 6.3 million annual visitors and features major retailers like Target, Trader Joe's, and Nike. Fox Point offers an attractive blend of suburban tranquility and urban accessibility, with excellent schools and median home prices of $545K, significantly above the Milwaukee average of $210K.