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

-

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

-

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

tom.sitz@cushwake.com 

CODY HUNDERTMARK

Co-Head of Midwest Investment Sales

Executive Managing Director

+1 312 338 7865

cody.hundertmark@cushwake.com 

BEN ADANK

Principal

+1 414 347 1000

badank@boerke.com 

 

KELSEY BERRY

Director

+1 312 424 8069

kelsey.berry@cushwake.com 

 

JEREMIAH OLSEN

Director

+1 312 338 7868

jeremiah.olsen@cushwake.com

ZACH BROWN

Senior Associate

+1 312 422 0642

zachary.brown@cushwake.com