Commercial Building Investment in New Berlin/Brookfield Area

[Jeremy Rynders]

Investment Info:

Office Space commercial investment investment.

Purchase price: $2,400,000
Cash invested: $480,000

2 Story Building, Class A Location off busies road in the area. 26,000 square feet of mixed office space. Completed many repairs and renovations. One of our companies, Keller Williams Realty Milwaukee Southwest is the main tenant and occupies 40% of the space and the other 60% of space is rented to a variety of tenants.

What made you interested in investing in this type of deal?

We'd be the #1 tenant and it cash flowed monthly

How did you find this deal and how did you negotiate it?

Was listed on the market - worked with a commercial agent specialist

How did you finance this deal?

Local bank - 25 year ammortization, 3.0% interest rate on a 5 year balloon.

How did you add value to the deal?

Renovated and combined 3 small offices into one large office

What was the outcome?

We've been using this building for 4+ years now

Lessons learned? Challenges?

Check elevator and sprinkler rules - has cost us a lot of $ upgrading

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Andy Fishler, Luther Group