TABLE OF CONTENTS PROPERTY OVERVIEW... PROPERTY DETAILS... LEASING ADVANTAGE... STACKING PLAN / FLOOR PLANS... LOCATION / PARKING...

Transcription

1

2 TABLE OF CONTENTS PROPERTY OVERVIEW... PROPERTY DETAILS... LEASING ADVANTAGE... STACKING PLAN / FLOOR PLANS... LOCATION / PARKING... LEASING ADVISORS MATT HUNTER JIM CAVANAUGH Vice President Associate matt.hunter@cbre.com james.cavanaugh@cbre.com office locations 777 E. Wisconsin Avenue 411 E. Wisconsin Avenue Suite 3150 Suite 505, WI 53202, WI

3 PROPERTY OVERVIEW 411 E. Wisconsin Center 411 East Wisconsin was recently purchased by Riverview Realty Partners, based out of Chicago, Illinois. 411 East Wisconsin is a 30-story, Class A office tower located at the center of the East Wisconsin Avenue corridor in the heart of the downtown Central Business District ( CBD ). Rising 408 feet above the ground and encompassing over a full city block, the Property is the fifth tallest building in the state of Wisconsin and sits as an imposing fixture on s skyline. The building consists of approximately 693,126 RSF. The tower is also connected via the enclosed atrium lobby to a two-story building at the southwest corner of Wisconsin Avenue and Jefferson Street which is currently a PNC Bank retail branch. 411 East Wisconsin was designed by Harry Weese Associates, a prominent architecture firm at the time founded by renowned architect Harry Weese. Weese is best known as the designer and architect of the Washington, D.C., subway system which is widely regarded one of the most remarkable public works projects of the 20th century. However, originally from Evanston, Illinois, Harry Weese spent much of his career working throughout the Midwest, including such projects as the Time-Life Building and Seventeenth Church of Christ Scientist building in downtown Chicago. Weese designed 411 East Wisconsin with an exterior precast panel concrete façade that is integral with the concrete spandrel beams and includes insulated glass window units. The building s approximate 23,000 RSF floor plates cater equally well to both small and large tenants, while the building s height and stature offers tenants sweeping views of downtown and Lake Michigan. 411 East Wisconsin offers tenants and visitors an impressive suite of amenities that virtually eliminate the need to leave the building. Amenities at the Property include a striking glass-tiered lobby atrium, the Wisconsin Athletic Club, tenant conference facilities, a lower level courtyard with a reflecting pool, on-site banking facilities, on-site dentist, dry cleaning services, a sundry shop, and quality food service. Additionally, the building and parking structures are both equipped with 24-hour, on-site security, extensive access control system, and closed circuit monitoring to ensure tenant and customer safety and comfort. The Wisconsin Athletic Club which occupies the entire sixth floor of the Property is the premier fitness club in downtown and has been located at the Property since East Wisconsin offers convenient freeway accessibility and is located among some of s finest hotels and restaurants. Located directly across from the Property s main entrance is The Pfister Hotel, a four-star, AAA Four Diamond hotel. Other hotels in the vicinity of the Property include the Marriott, the Hotel Metro, and Residence Inn by Marriott. The Property is also near some of s finest dining establishments, including The Capital Grille, Mason Street Grill, Carnevor, Bacchus Restaurant, Ward s House of Prime, and Umami Moto. These hotels and restaurants benefit from their locations in the heart of downtown as well as close proximity to some of s finest attractions, including Henry W. Maier Festival Park (home of Summerfest), the Art Museum, the County War Memorial Center, and the historic Third Ward.

4 PROPERTY DETAILS summary Total Building Size: 693,126 RSF Year Built: 1984 Number of Stories: 30 Available Space: ,000 RSF Max Contiguous: Avg. Floor Plate (RSF): Base Rent: 50,000 RSF Approx. 24,000 RSF $14.00-$17.00/RSF NNN 2015 Expenses: $11.35/RSF Parking: 2.1 per 1,000 RSF

5 PROPERTY DETAILS Physical Description Address: 411 East Wisconsin Avenue, Wisconsin Building Type: A 30-story, above-grade, multi-tenant office building with an atrium connecting the tower to a two-story bank-occupied building. Also included are an attached multi-level parking garage and annexed multilevel parking garage. Parking: The Property includes 1,400 parking spaces, equating to an impressive parking ratio of 2.1 per 1,000 square feet of space that is nearly double that of competing properties. Location and Access: The office tower and attached parking garage occupy an entire city block bounded by Wisconsin Avenue, Jefferson Street, Michigan Street, and Street in the center of CBD. The parking garage annex is located across Michigan Street south of the attached parking garage. The building is accessed from Wisconsin Avenue, and the attached parking garage from Jefferson Street at grade. Property amenities Two common area conference rooms Wisconsin Athletic Club On-site dining (Davians) On-site management service On-site dentist Dry cleaning services Full service bank (PNC) Stuart s Convenience Store Shoe care Gourmet coffee shop 24/7 Security desk services Landscaped east courtyard & west plaza Bubler Bikeshare Program

6 LEASING ADVANTAGE DISCOUNT TO REPLACEMENT COST 411 East Wisconsin sold well below replacement cost, providing new ownership with a highly attractive cost basis that will create a significant leasing advantage over competing assets in retaining existing tenancy and securing new tenants. PRESTIGIOUS TENANT ROSTER The Property s roster of elite and distinguished tenants is a testament to the building s status as one of s most desirable corporate addresses. The building s tenant roster includes: 186,472 RSF 67,914 RSF 20,944 RSF 22,638 RSF 22,785 RSF 22,638 RSF 13,158 RSF 13,148 RSF 26,492 RSF EXCELLENT TENANT RETENTION The Property has an outstanding record of retaining existing tenants. Tenants are drawn to the irreplaceable main-on-main location, unmatched amenity package, efficient and modern design, and world-class property management of the building. Quarles & Brady, the building s largest tenant occupying 28.5% of the building s RSF, has maintained a presence at the Property since 1986 when it initially leased 121,165 rentable square feet and has since then expanded to its current size of 186,472 rentable square feet.

7 STACKING PLAN Rooftop Penthouse ,471 RSF 6,272 RSF 9,715 RSF 2,666 RSF 2,371 RSF 24,016 RSF 24,016 RSF 9,413RSF Mezz. LL Concourse = Vacant Space Other Available Space: 8,307 RSF 5th Floor 3,008 RSF 4th Floor 6,077 RSF Mezzanine *All square footages are approximate and are subject to change.

8 AVAILABILITY FLOOR SQ. FEET Under 1,000 RSF 17th Floor 651 Mezzanine 780 Under 2,000 RSF 17th Floor 1,720 Under 4,000 RSF 22nd Floor 2,471 18th Floor 2,666 17th Floor 2,371 5th Floor 3,734 4th Floor Under 8,000 RSF 21st Floor 6,272 5th Floor 4,671 Mezzanine 6,077 Mezzanine 5,297 Under 20,000 RSF 20th Floor 9,715 14th Floor 9,413 Under 30,000 RSF 15th Floor 24,016 16th Floor 24,016 Over 30,000 RSF 14th/15th 33,429 15th/16th 48,032 14th/15th/ 16th 57,445 *All square footages are approximate and are subject to change.

9 N 3RD ST N 2ND ST N 6TH ST LOCATION / PARKING OVERVIEW IRREPLACEABLE DOWNTOWN MILWAUKEE LOCATION Located at the heart of downtown, 411 East Wisconsin offers tenants and visitors outstanding access to s premier dining establishments, quality hotels, and world-class cultural and entertainment venues. The Lake Michigan lakefront is just four blocks to the east and features the internationally-renowned, Santiago Calatravadesigned Art Museum as well as the Henry W. Maier Festival Park, home to s annual Summerfest music festival, dubbed the world s largest music festival. Cass Park S.6TH ST Haymarket W KNAPP ST N 3RD ST E OGDEN AVE N FARWELL AVE N PROSPECT AVE 43 County Courthouse County Sheriff McArthur Square Technical College Public Museum Kilbourn Town 145 Theatre W JUNEAU AVE AT&T Center W STATE ST US Cellular Arena W KILBOURN AVE W WELLS ST Frontier Airlines Center W WISCONSIN AVE W MICHIGAN ST EAST WEST FRWY Hyatt Regency Federal Plaza Zeidler Park Pere Marquette Park Grand Avenue Mall Marcus Center for the Performing Arts River N PLANKINTON AVE Red Arrow Park City Hall Pabst Theater Residence Inn N WATER ST School of Engineering WATER ST EAST WEST FRWY 32 N MILWAUKEE ST 18 E STATE ST E KILBOURN AVE Cathedral Cathedral of Square St John The Pfister Hotel N JACKSON ST Federal Courthouse N VAN BUREN ST 32 Yankee Hill US Bank Center E JUNEAU AVE E WELLS ST E WISCONSIN AVE MICHIGAN ST PROSPECT AVE Betty Brinn Childrens Museum 32 Co. War Memorial Center Art Museum N LINCOLN MEMORIAL DR Veterans Park Lake Michigan Harbor House Discovery World W ST PAUL AVE Wisconsin and Southern Railroad Amtrak Station W CANAL ST S 6TH ST Menomonee River Harley Davidson Museum Institute of Art 32 Historic Third Ward LAKE FRWY Lakeshore State Park E PITTSBURGH AVE 794 Lakeshore State Park Inlet Milwauk e River Henry W. Maier Festival Park 43 The Iron Horse W FLORIDA ST Wisconsin and Southern Railroad Marcus Amphitheatre W VIRGINIA ST S 1ST ST 41 S 6TH ST S 5TH ST Bradley Technology and Trade School W PIERCE ST 32 Harbor Substation Port of 59 W NATIONAL AVE 59

10 LOCATION / PARKING OVERVIEW N WATER ST 411 E. Wisconsin Center N BROADWAY ST N MILWAUKEE ST Bridge Attached Parking Garage Adjacent 2-Story Galleria Lower Level Court Yard E WISCONSIN AVE N JEFFERSON ST Adjacent 2-Story Bank Building Annex Parking Garage E MICHIGAN ST DRIVING DIRECTIONS Take I-94 East to I-794 Exit Jackson Street Turn left and travel West on Michigan Turn right and travel North on Jefferson Parking structure located immediately on your left just prior to Wisconsin Avenue

11 LEASING ADVISORS MATT HUNTER JIM CAVANAUGH Vice President Associate office locations 777 E. Wisconsin Avenue 411 E. Wisconsin Avenue Suite 3150 Suite 505, WI 53202, WI

12 WISCONSIN REALTORS ASSOCIATION 4801 Forest Run Road Madison, Wisconsin BROKER DISCLOSURE TO CUSTOMERS CBRE, Inc. Page 1 of 2 Prior to negotiating on your behalf the Broker must provide you the following disclosure statement: BROKER DISCLOSURE TO CUSTOMERS You are a customer of the broker. The broker is either an agent of another party in the transaction or a subagent of another broker who is the agent of another party in the transaction. The broker, or a salesperson acting on behalf of the broker, may provide brokerage services to you. Whenever the broker is providing brokerage services to you, the broker owes you, the customer, the following duties: The duty to provide brokerage services to you fairly and honestly. The duty to exercise reasonable skill and care in providing brokerage services to you. The duty to provide you with accurate information about market conditions within a reasonable time if you request it, unless disclosure of the information is prohibited by law. The duty to disclose to you in writing certain material adverse facts about a property, unless disclosure of the information is prohibited by law (See Lines 55-63). The duty to protect your confidentiality. Unless the law requires it, the broker will not disclose your confidential information or the confidential information of other parties (See Lines 22-39). The duty to safeguard trust funds and other property the broker holds. The duty, when negotiating, to present contract proposals in an objective and unbiased manner and disclose the advantages and disadvantages of the proposals. Please review this information carefully. A broker or salesperson can answer your questions about brokerage services, but if you need legal advice, tax advice, or a professional home inspection, contact an attorney, tax advisor, or home inspector. This disclosure is required by section of the Wisconsin statutes and is for information only. It is a plain-language summary of a broker's duties to a customer under section (1) of the Wisconsin statutes. CONFIDENTIALITY NOTICE TO CUSTOMERS BROKER WILL KEEP CONFIDENTIAL ANY INFORMATION GIVEN TO BROKER IN CONFIDENCE, OR ANY INFORMATION OBTAINED BY BROKER THAT HE OR SHE KNOWS A REASONABLE PERSON WOULD WANT TO BE KEPT CONFIDENTIAL, UNLESS THE INFORMATION MUST BE DISCLOSED BY LAW OR YOU AUTHORIZE THE BROKER TO DISCLOSE PARTICULAR INFORMATION. A BROKER SHALL CONTINUE TO KEEP THE INFORMATION CONFIDENTIAL AFTER BROKER IS NO LONGER PROVIDING BROKERAGE SERVICES TO YOU. THE FOLLOWING INFORMATION IS REQUIRED TO BE DISCLOSED BY LAW: 1. MATERIAL ADVERSE FACTS, AS DEFINED IN SECTION (5g) OF THE WISCONSIN STATUTES (SEE LINES 55-63). 2. ANY FACTS KNOWN BY THE BROKER THAT CONTRADICT ANY INFORMATION INCLUDED IN A WRITTEN INSPECTION REPORT ON THE PROPERTY OR REAL ESTATE THAT IS THE SUBJECT OF THE TRANSACTION. TO ENSURE THAT THE BROKER IS AWARE OF WHAT SPECIFIC INFORMATION YOU CONSIDER CONFIDENTIAL, YOU MAY LIST THAT INFORMATION BELOW (SEE LINES 35-36). AT A LATER TIME, YOU MAY ALSO PROVIDE THE BROKER WITH OTHER INFORMATION YOU CONSIDER TO BE CONFIDENTIAL. CONFIDENTIAL INFORMATION: NON-CONFIDENTIAL INFORMATION (The following information may be disclosed by Broker): (INSERT INFORMATION YOU AUTHORIZE THE BROKER TO DISCLOSE SUCH AS FINANCIAL QUALIFICATION INFORMATION.) CONSENT TO TELEPHONE SOLICITATION I/We agree that the Broker and any affiliated settlement service providers (for example, a mortgage company or title company) may call our/my home or cell phone numbers regarding issues, goods and services related to the real estate transaction until I/we withdraw this consent in writing. List Home/Cell Numbers: SEX OFFENDER REGISTRY Notice: You may obtain information about the sex offender registry and persons registered with the registry by contacting the Wisconsin Department of Corrections on the Internet at: or by phone at BY SIGNING AND DATING BELOW I/WE ACKNOWLEDGE RECEIPT OF A COPY OF THIS DISCLOSURE AND THAT and are working Sales Associate Firm Name as: (Owner's/Listing Broker's Agent) (Buyer's/Tenant's Agent or Buyer's Broker's Agent) STRIKE ONE. SIGNING THIS FORM TO ACKNOWLEDGE RECEIPT DOES NOT CREATE ANY LEGAL OBLIGATIONS TO BROKER. Signature No representation is made as to the legal validity of any provision or the adequacy of any provision in any specific transaction. Copyright 2012 by Wisconsin REALTORS Association Drafted by Attorney Debra Peterson Conrad Date Signature CBRE, Inc. 777 E Wisconsin Ave, WI Phone: Fax: Untitled Matt Hunter / Jim Cavanaugh CBRE Date #4840 Page 2 of 2 DEFINITION OF MATERIAL ADVERSE FACTS A "material adverse fact" is defined in Wis. Stat (5g) as an adverse fact that a party indicates is of such significance, or that is generally recognized by a competent licensee as being of such significance to a reasonable party, that it affects or would affect the party's decision to enter into a contract or agreement concerning a transaction or affects or would affect the party's decision about the terms of such a contract or agreement. An "adverse fact" is defined in Wis. Stat (1e) as a condition or occurrence that a competent licensee generally recognizes will significantly and adversely affect the value of the property, significantly reduce the structural integrity of improvements to real estate, or present a significant health risk to occupants of the property; or information that indicates that a party to a transaction is not able to or does not intend to meet his or her obligations under a contract or agreement made concerning the transaction.