Skip to main content

Office

Liberty Mutual - Milwaukee

11800 West Park Place, Milwaukee, WI 53224

Listing Price: $3,835,000

Cap Rate
6.00%
Gross SF
57,332
Rentable SF
57,332
Price/Gross SF
$66.89
Lot Size
8.05 acres
Year Built
2001

Investment Overview

The Property contains a 54,839-square foot two-story office building located at 11800 West Park Place, Milwaukee, Wisconsin. The Property is situated between West Good Hope and West Bradley Roads on Milwaukee's Northwest side. This is a value-add opportunity with a existing long term tenant and the potential for a new 25,000-square foot lease. Currently leased to Liberty Mutual Insurance Company, a wholly-owned subsidiary of Liberty Mutual Insurance Holding Company Inc. The tenant is a diversified global insurer and third largest property and casualty insurer in the United States. In 2021, Liberty had Net Income of $3.068 Billion, Total Assets of $156.043 Billion and $27.848 Billion in Total Equity. They rank 71st on the Fortune 100 list. The Tenant leases the entire second floor of the building and a small area of the first floor. The lease is for a total of 29,620 net rentable square feet (54.01 percent of the property), under a least that expires February 28, 2025. The Tenant’s current base rent is $12.97 per square foot, NNN increasing each March first thereafter by 2 percent. The lease provides Liberty with two five-year options to renew the lease term at 95 percent of the then current market rate (but not less than the then escalated rate being paid by the Tenant at that time). The Property is located in the 300-acre Park Place Office Park, and part of Milwaukee’s Northwest sub-market. The Building has 54,839 rentable square feet, and is located on an 8.05-acre site with a retention pond, on the east side of Interstate 41/Highway 45. The building and its tenant signage are visible from the highway. The Property was built in 2001 and has a poured concrete foundation, a reinforced concrete frame, and a masonry exterior. The roof is a flat, rubber membrane and houses two 75-ton HVAC units. The parking lot has striped parking for 329 cars, a healthy 5.74 per 1,000 square feet of rentable square feet in the building. The building has one hydraulic passenger elevator manufactured by the Otis Elevator Company. Each floor has men’s and women’s restrooms.

Investment Highlights

  • Liberty Mutual Insurance occupies the entire 2nd floor under a long-term lease.
  • Excellent freeway visibility and access to Interstate Hwy. 41
  • Tremendous value-add opportunity

Exclusively Listed By

Financing By

Office

Liberty Mutual - Milwaukee

Listing Price: $3,835,000

Cap Rate
6.00%
Gross SF
57,332
Rentable SF
57,332
Price/Gross SF
$66.89
Lot Size
8.05 acres
Year Built
2001

Investment Highlights

  • Liberty Mutual Insurance occupies the entire 2nd floor under a long-term lease.
  • Excellent freeway visibility and access to Interstate Hwy. 41
  • Tremendous value-add opportunity

Investment Overview

The Property contains a 54,839-square foot two-story office building located at 11800 West Park Place, Milwaukee, Wisconsin. The Property is situated between West Good Hope and West Bradley Roads on Milwaukee's Northwest side. This is a value-add opportunity with a existing long term tenant and the potential for a new 25,000-square foot lease. Currently leased to Liberty Mutual Insurance Company, a wholly-owned subsidiary of Liberty Mutual Insurance Holding Company Inc. The tenant is a diversified global insurer and third largest property and casualty insurer in the United States. In 2021, Liberty had Net Income of $3.068 Billion, Total Assets of $156.043 Billion and $27.848 Billion in Total Equity. They rank 71st on the Fortune 100 list. The Tenant leases the entire second floor of the building and a small area of the first floor. The lease is for a total of 29,620 net rentable square feet (54.01 percent of the property), under a least that expires February 28, 2025. The Tenant’s current base rent is $12.97 per square foot, NNN increasing each March first thereafter by 2 percent. The lease provides Liberty with two five-year options to renew the lease term at 95 percent of the then current market rate (but not less than the then escalated rate being paid by the Tenant at that time). The Property is located in the 300-acre Park Place Office Park, and part of Milwaukee’s Northwest sub-market. The Building has 54,839 rentable square feet, and is located on an 8.05-acre site with a retention pond, on the east side of Interstate 41/Highway 45. The building and its tenant signage are visible from the highway. The Property was built in 2001 and has a poured concrete foundation, a reinforced concrete frame, and a masonry exterior. The roof is a flat, rubber membrane and houses two 75-ton HVAC units. The parking lot has striped parking for 329 cars, a healthy 5.74 per 1,000 square feet of rentable square feet in the building. The building has one hydraulic passenger elevator manufactured by the Otis Elevator Company. Each floor has men’s and women’s restrooms.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower