Investment Summary
Cushman & Wakefield’s National Office Advisory Group has been exclusively retained to offer qualified investors the opportunity to acquire the fee simple interest in Schlitz Park (the “Property” or “Campus”), an iconic, multi-building, creative office campus located directly along the Milwaukee River in downtown Milwaukee, Wisconsin. Originally constructed for the Joseph Schlitz Brewing Company as the company’s primary brewery facilities, the Campus has been thoughtfully repositioned into one of Milwaukee’s premier office destinations, blending the connectivity and vibrancy of an urban core with the accessibility and space of a suburban environment. Spanning approximately 32 contiguous acres bounded by the Milwaukee River, Pleasant Street, Dr. Martin Luther King Jr. Drive, and Cherry Street, the Property comprises five office buildings, three parking structures, and a central chilled water plant totaling approximately 819,139 rentable square feet. Currently nearly 69% leased to 22 tenants, Schlitz Park supports a diverse roster of corporate and local users and offers a comprehensive amenity package including surface and structured parking, fitness centers, conference facilities, and on-site dining.
Beyond its highly differentiated architectural design, unique history and existing cash flow, Schlitz Park represents a highly compelling urban land play within downtown Milwaukee. In a dense urban market where land or redevelopment parcels regularly trade between $1.5 million to more than $6 million per acre, the opportunity to acquire 32 contiguous acres at or below land value with over 1,500 feet of frontage along the Milwaukee River and in-place income is unprecedented. The surrounding neighborhood has experienced significant mixed-use growth and development over the last 15+ years, with more than 5,000 rental apartment units absorbed within walking distance over the past five years, positioning downtown Milwaukee among the Midwest’s strongest multifamily absorption markets. With its scale, infrastructure, zoning flexibility, and direct river frontage, Schlitz Park offers a generational investment and redevelopment opportunity, uniquely suited to a transformative mixed-use repositioning that could incorporate residential, hospitality, retail and other uses.
Investment Highlights
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SIGNIFICANT VALUE CREATION & REDEVELOPMENT OPPORTUNITY
VALUE-ADD OPPORTUNITY WITH TANGIBLE NEAR-TERM UPSIDE
ONE-OF-A-KIND, URBAN INFILL CREATIVE OFFICE CAMPUS
PROMINENT, TRANSIT-ORIENTED LOCATION ALONG THE MILWAUKEE RIVER
ONGOING URBAN RENAISSANCE IN DOWNTOWN MILWAUKEE
TRANSFORMATION OF DOWNTOWN MILWAUKEE'S NORTHWEST QUADRANT
DIVERSIFIED, GRANULAR RENT ROLL
THE POWER OF RESETTING BASIS
Property Summary
RiverCenter
1515-1575 N River Center
Stockhouse
1543 N 2nd Street
Keghouse
111 W Pleasant St
Bottlehouse A
1610 N 2nd Street
Bottlehouse B
101 W Pleasant St
Consolidated
Year Built / Renovated
1949 / 2021
1906 / 2021
1901 / 2014
1899 / 2021
1907 / 2021
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Stories
4
6
2
2
2
-
Net Rentable Area
469,496 SF
153,678 SF
43,301 SF
97,332 SF
55,332 SF
819,139 SF
Avg. Floor Plate Size
117,374 SF
25,613 SF
21,651 SF
48,666 SF
27,666 SF
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Occupancy
68.0%
81.9%
68.1%
55.4%
62.8%
68.8%
Parking Ratio
3.00 / 1,000 SF
3.74 / 1,000 SF
3.0 / 1,000 SF
4.35 / 1,000 SF
3.0 / 1,000 SF
3.28 / 1,000 SF
# of Tenants
9
4
4
2
3
22
Avg. Tenant Size
35,488 SF
31,477 SF
7,367 SF
26,939 SF
11,576 SF
25,608 SF
WALT
3.1 Yrs.
3.8 Yrs.
2.4 Yrs.
3.3 Yrs
3.1 Yrs.
3.3 Yrs.
Photo Gallery
Investment Contacts
TOM SITZ
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7866
CODY HUNDERTMARK
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7865
JEREMIAH OLSEN