Available For Sale - Retail

2,216 SF | Show Pricing $

Retail Space in Milwaukee for sale

AVAILABILITY DETAILS

Size
2,216 SF
Price/SF
Show Pricing $
Listing ID
SA481526
Notes
Year Built

2017

Description

Lee & Associates is pleased to exclusively offer for sale, the fee simple interest (land & building) in a BMO Harris Bank property located in Sherman Park Neighborhood of Milwaukee, WI (the “Property”). Built in 2017, the Property consists of a 2,216-square-foot retail building with a drive-thru teller lane that sits on an approximately 12,209-square-foot parcel.

The subject property is leased to BMO Harris Bank. Established in 1882 as Harris Bank, and owned by BMO Financial Group (TSX, NYSE: BMO) since 1984, BMO Harris Bank has grown to become one of the largest banks in the Midwest serving personal, commercial and affluent customers. BMO is the eighth largest bank in North America by assets, with total assets of $710 billion and provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers.

This asset consists of BMO’s “Smart Branch” concept — the first such branch in Wisconsin. The “Smart Branch” Concept provides customers with a new and engaging environment that brings together high-tech convenience and personal service to customers such as video conferencing, smart ATMs, laptops & tablets, and free WIFI, in a unique, open building format tailored to fit customer’s evolving needs (see page 19).

The subject property is a new build-to-suit and a relocation site for BMO Harris Bank, built in late 2017. It sits across the street from a former site where BMO (formerly M&I Bank) conducted business for nearly 58 years, continuing BMO’s long -term community partnership with the Sherman Park neighborhood.

The new absolute NNN lease has 14 years remaining on it’s Absolute NNN Lease and features 2% annual rent increases, providing an investor with a safe and creditworthy passive investment with aggressive rent growth.

The subject property is located within the Milwaukee neighborhood of Sherman Park along W. Fond Du Lac Avenue. This corridor is the main traffic corridor, offering excellent visibility and signage to over 24,000 cars per day. Additionally, the property is located on the hard corner intersection of W. Fond Du Lac Ave and N. 37th St, a location that offers multiple access points into the property for easy in/out entry to the property.

This investment property is located in the city of Milwaukee, WI. Milwaukee is the largest city in the state of Wisconsin with an estimated population in 2017 of 595,351, and the fifth-largest city in the Midwestern United States. It is located on Lake Michigan’s western shore. Milwaukee is the main cultural and economic center of the Milwaukee metropolitan area. Milwaukee is the second-most densely populated metropolitan area in the Midwest, surpassed only by Chicago.

The city is undergoing its largest construction boom since the 1960s. Major new additions to the city in the past two decades include the Milwaukee Riverwalk, the Wisconsin Center, Miller Park, an expansion to the Milwaukee Art Museum, Milwaukee Repertory Theater, and Pier Wisconsin, as well as major renovations to the UW–Milwaukee Panther Arena. The Fiserv Forum, a multi-purpose arena that is the home of the Milwaukee Bucks of the National Basketball Association (NBA) and the Marquette Golden Eagles men’s basketball team of Marquette University, opened in late 2018.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Drew Olson, Lee & Associates