Exclusive Offering Memorandum

Transcription

1 135 West Wells Street, Suite 200 Milwaukee, WI RealEstate.com Exclusive Offering Memorandum Presented By: Beau Beach, CCIM CPM Direct: M ayfair Corridor Office B uilding 18,000 SF Incredible location Great views Your name on the building Attached covered parking Plus ample surface parking Make it your own by changing the exterior color (see included renderings) West Bluemound Road Wauwatosa WI Flexible floor plan (see included space plan) Busy corner at Mayfair and Bluemound Easy access to I94 Convenient central location Surrounded by amenities for you and your employees to enjoy Smart financial decision for any business owner wanting to be in this area Popular West Bluemound Road location with huge traffic counts and great signage opportunities. Perfect for an owner-occupant to move into approx. 5000SF on the top floor. The property cash flows today so you can occupy the top floor without paying rent. Why rent when you can own in the hottest office market in the area for less monthly cost? Make the building your own by renaming it or prominently displaying your business name on it. Easily change the exterior color with paint or by installing a new skin. We ve included renderings with ideas. The top floor can be designed to meet the needs of your business. We ve included a potential space plan to get you started. This is a rare opportunity for a business owner to establish a flagship location in the popular and growing Mayfair area.

2 Disclaimer The information contained in this Offering Memorandum ( Brochure ) is confidential and is provided for the sole purpose of allowing persons to evaluate whether there is interest in proceeding with further discussions with the Owner regarding a possible transaction with respect to the subject property (the Property ). The information contained herein shall not be photocopied or disclosed to any other party and shall not be used for any other purpose. If the person receiving this Brochure does not elect to pursue such a transaction, same person agrees that this material is to be returned to Prowess Real Estate Companies LLC ( Broker ). Neither the Owner, nor Broker, nor any of their respective officers, directors, partners, employees, agents or affiliates, assume any responsibility or make any representations or warranties, whether express or implied, by operation of law or otherwise, with respect to the Property or this Brochure or any information or statements (including financial statements and projections) contained herein or relating hereto, including but not limited to the accuracy or completeness of such information or statements and the condition, quality or fitness of the Property. Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions. Projections, in particular, are based upon various assumptions and subjective determinations as to which no guaranty or assurances can be given. Without limiting the foregoing, in the event this Brochure contains information relating to asbestos or any other hazardous, toxic or dangerous materials in relation to the Property, such information shall in no manner be construed as creating warranties or representations, express or implied, by operation of law or otherwise, by any party, as to the existence or non-existence or nature of such materials in, under, on or around the Property. Potential investors must perform their own examination and investigation of the Property and information relating to the Property and in its operations, and shall rely solely on such examination and investigation and not on this Brochure or any information or materials contained herein or otherwise provided in making their decisions on whether to proceed with a transaction. The Property is being sold as is by the respective Owner, without representation or warranty as to condition or profitability. The only party authorized to represent the Owner of the Property is Broker, and Owner shall not be obligated to pay any fees or commissions to any other advisor, broker or representative. Any party entering into a transaction with Owner shall be obligated to pay any fees or commissions due any advisor, brokers or representatives, other than Broker, dealing with such a party. This Brochure is provided subject to prior sale or lease, change of price or terms and other changes to the materials, statements and information contained herein or relating to the Property, and is subject to withdrawal, all without notice or liability. In no event shall the delivery or receipt of this Brochure be deemed to create any legal obligation to enter into any transactions with respect to the Property, and only a definitive agreement signed by all parties shall create a binding commitment to enter into a transaction.

3 Who is Prowess Commercial Real Estate Services? We are a locally owned and operated commercial real estate services company with offices in downtown Milwaukee, West Allis, and Racine. The services we provide are: Sales Brokerage Leasing Brokerage Property Management Corporate Advisory Services Facilities Maintenance Sale/Leasebacks It s no secret that our people, with our expertise and connections, are our competitive advantage. We don t accept all clients. In fact, we re very selective of the clients and projects we take on. We re careful to only accept the projects we know we ll be successful with and our clients really appreciate that. If you would like to discuss working together please contact me at or Beau.Beach@ProwessCRE.com Sincerely, Beau Beach, CCIM CPM President Great Property Management Pays For Itself Expect More From Your Broker

4 Executive Summary The Offering Prowess Commercial Real Estate Services, on behalf of the owner of record, is offering for sale a 100% fee simple interest in the office building located at West Bluemound Road in Wauwatosa. This property offers a unique opportunity for an owner-occupant to occupy approx. 5000SF on the top floor and own the entire building for less than it would cost to rent the available space. Best of all, the buyer can make the property their own by changing its name, adding their company name to the front of the building, and changing the exterior color. Establish your flagship location in one of the hottest real estate markets in Southeast Wisconsin right now the Mayfair Corridor. Why lease when it costs less to own? Property Property Size Parking Lot Size West Bluemound Road, Wauwatosa 18,118 SF spread over 4 floors 34 parking spots in the attached parking structure, 11 surface spots in front of the building, and 11 public spots between the building and Bluemound. 12,600 SF Occupancy 72% Offering Price $1,375,000 ($76 per square foot) Year Built 1972 Heating/Cooling Radiant heat is provided by a central boiler. Rooftop AC units provide the cooling. Building HVAC Control System by Johnson Controls. All new in 2007! Tax Key Assessed Value Total assessed value is $1,366,800

5 Transaction Guidelines Following the distribution of materials, Prowess Commercial Real Estate Services, will be available to assist prospective investors with on-site inspections of the property and in the review of the information contained in the Offering Memorandum. The property is being sold on an As-Is, Where-Is basis, and the seller makes no representations or warranties whatsoever as to any condition of the property, the property s systems, the serviceability or fitness for a particular use, any component of the property or the presence of defects therein, latent or otherwise. All offers should include the following: The offer price; A description of the investor and its source of capital for the acquisition; The amount of earnest money deposit; An outline of the proposed schedule for due diligence and closing; Description of any contingencies or due diligence requirements; and A description of any physical or environmental assumptions affecting the price being offered. Contacts Beau Beach, CCIM CPM Direct: Beau.Beach@ProwessCRE.com

6 Cash Flow Analysis Monthly Rents From Current Tenants = $15,400 Estimated Monthly Operating Expenses = ($7,861) Estimated Monthly Mortgage = ($5,959) Monthly Cash Flow to Buyer = $1,580 *The income & expense analysis contained within this Offering Memorandum is provided for information purposes only. Prospective buyers should perform their own due diligence and analysis before making an offer.

7 Property Renderings (Potential Exterior Color Changes)

8 Top Floor Space Plan (Potential Layout for Owner Occupant)

9 Property Photos

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11 Aerial Maps

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