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Office

Ironwood Office Park | Directly Off Interstate | Milwaukee MSA

5205-5225 N Ironwood Rd, Glendale, WI 53217

Listing Price: $6,156,000

Cap Rate
8.33%
Gross SF
56,766
Rentable SF
56,766
Price/Gross SF
$108.45
Lot Size
5.97 acres
Year Built
1977

Investment Overview

Marcus & Millichap is pleased to present Ironwood Office Park located in Glendale, Wisconsin. This premier multi-tenant office park has 9 tenants with annual rental bumps ranging from 2% to 3%. There are three uniquely different buildings. A rear parking lot amenity space was recently redeveloped. Office park employees benefit from being situated along the improved Oak Leaf Trail, providing a place to walk on breaks. 38 tenants have leases commencing between 2020 through 2022. The area shows demand and promise in the new normal of post-Covid 19 office needs suburban core locations are in demand due to shorter commutes, work-life balance, and having urban commerce and culture still within reach. Long operating history for many tenants. Marquardt has been a tenant since 1997, Wyckoff chemical company since 1999, Silver Spring Psychotherapy and Community Connection since 2003, and Independent Solutions since 2004. Ideally located directly along Interstate 43 with additional nearby public transportation options. Less than a mile to Interstate 43’s interchange with 82,300 vehicles passing per day which provides direct access to Milwaukee. 15 miles to General Mitchell Airport. Six miles to the Milwaukee Intermodal station (Amtrak). Located within a major retail area and nearby Bayshore Shopping Mall and Columbia College of Nursing. Notable major retailers in the area include Target, Pet Supplies Plus, McDonald’s, Taco Bell, and more. Property is less than a mile from Bayshore Shopping Mall, an open-air retail center featuring more than 75 shops, restaurants, and offices (Anchored by Kohls and Barnes & Noble). Highly populated area with 343,176 people living within five miles of subject property and 337,971 people work within five miles of subject property. The average household income of $105,854 within one mile of subject property.

Investment Highlights

  • Premier Multi-Tenant Office Park | Three Uniquely Different Buildings
  • 38 Tenants have Leases Commencing Between 2020 Through 2022
  • Long Operating History for Many Tenants | Dating Back to 1997
  • Ideally Located Directly Along Interstate 43 with Additional Nearby Public Transportation Options
  • Located Within a Major Retail Area and Nearby Bayshore Shopping Mall and Columbia College of Nursing
  • Highly Populated Area | 343,176 People Living Within Five Miles

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s) WI: 56163-90

    Wisconsin

Office

Ironwood Office Park | Directly Off Interstate | Milwaukee MSA

Listing Price: $6,156,000

Cap Rate
8.33%
Gross SF
56,766
Rentable SF
56,766
Price/Gross SF
$108.45
Lot Size
5.97 acres
Year Built
1977

Investment Highlights

  • Premier Multi-Tenant Office Park | Three Uniquely Different Buildings
  • 38 Tenants have Leases Commencing Between 2020 Through 2022
  • Long Operating History for Many Tenants | Dating Back to 1997
  • Ideally Located Directly Along Interstate 43 with Additional Nearby Public Transportation Options
  • Located Within a Major Retail Area and Nearby Bayshore Shopping Mall and Columbia College of Nursing
  • Highly Populated Area | 343,176 People Living Within Five Miles

Investment Overview

Marcus & Millichap is pleased to present Ironwood Office Park located in Glendale, Wisconsin. This premier multi-tenant office park has 9 tenants with annual rental bumps ranging from 2% to 3%. There are three uniquely different buildings. A rear parking lot amenity space was recently redeveloped. Office park employees benefit from being situated along the improved Oak Leaf Trail, providing a place to walk on breaks. 38 tenants have leases commencing between 2020 through 2022. The area shows demand and promise in the new normal of post-Covid 19 office needs suburban core locations are in demand due to shorter commutes, work-life balance, and having urban commerce and culture still within reach. Long operating history for many tenants. Marquardt has been a tenant since 1997, Wyckoff chemical company since 1999, Silver Spring Psychotherapy and Community Connection since 2003, and Independent Solutions since 2004. Ideally located directly along Interstate 43 with additional nearby public transportation options. Less than a mile to Interstate 43’s interchange with 82,300 vehicles passing per day which provides direct access to Milwaukee. 15 miles to General Mitchell Airport. Six miles to the Milwaukee Intermodal station (Amtrak). Located within a major retail area and nearby Bayshore Shopping Mall and Columbia College of Nursing. Notable major retailers in the area include Target, Pet Supplies Plus, McDonald’s, Taco Bell, and more. Property is less than a mile from Bayshore Shopping Mall, an open-air retail center featuring more than 75 shops, restaurants, and offices (Anchored by Kohls and Barnes & Noble). Highly populated area with 343,176 people living within five miles of subject property and 337,971 people work within five miles of subject property. The average household income of $105,854 within one mile of subject property.

Exclusively Listed By

Broker of Record

  • Todd Lindblom

    First Vice President/Regional Manager

    (262) 364-1900

    License(s): WI: 56163-90

    Wisconsin

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