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For Auction
City Center Medical Office Building
New Berlin, WI 53151Represented by
Newmark
Asset Snapshot
Offering Summary
City Center Medical Office Building - Wisconsin MOB Sale
NKF Capital (“NKF”) in conjunction with RealINSIGHT Marketplace has been retained by the Seller to exclusively present and offer for sale the City Center Medical Office (the “Property” or “City Center”) in New Berlin, Wisconsin, just outside of Milwaukee, WI. The 25,465 square foot medical office building was built in 2005 and is currently 56.7% leased to two tenants.
The two-story medical office building (“MOB”) is well located in an established commercial location in New Berlin, Wisconsin with numerous amenities. City Center benefits from its strategic location near two major highways (I-41 and I-43) and its adjacency to an existing senior living facility and a dense residential community. New Berlin boasts strong demographics and is a desirable destination for executives and supporting services for this affluent bedroom community. A new owner will have the stability of the primary tenant, Wheaton Franciscan Medical Group; representing 45% of the total space (recently exercised an extension through February 2021).
INVESTMENT HIGHLIGHTS
Strategic Location – City Center MOB is well located near the convergence of major thoroughfares I-41 and I-43 in New Berlin, WI. It is surrounding by strong retail, residential and healthcare facilities. City Center benefits from excellent visibility and convenient access for tenants and customers.
Lease to Market – This well located building should perform well moving forward with new ownership having the opportunity to lease the asset to submarket rents (~$19.50) and occupancy levels (91.9%).
Quality Asset – The Class A Medical Office Building was constructed in 2005 and is in excellent condition. The Building is situated on 2.43 acres and offers an excellent multi-tenant suburban office layout with lots of parking (5.07/1,000).
Reset Basis – A reset basis after recent foreclosure and below-market vacancy will position the next owner to aggressively pursue tenants by offering competitive, yet attractive, lease packages to potential tenants.
Due Diligence
Cooperating Broker Fee
Eligible brokers may receive a fee when representing the winning bidder.
0.50% co-op fee available
Learn more in the FAQsPlatform Fee
Buyer pays platform fee at closing.
5% or $25,000 minimum
How it Works
Learn about bidding, reserve prices, and closing.
Read the auction guideAuctioneer
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Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
