Jones Lang LaSalle (JLL), as exclusive representative, is pleased to offer for sale the fee-simple interest in 555 S 108th Street, West Allis, Wisconsin. Totaling 912,857 square feet, the property offers the opportunity to acquire a fully leased, high quality warehouse/distribution facility at an urban in-fill location directly off of Interstate 94 in Milwaukee County, Wisconsin.
The seller, Quad/Graphics (NYSE: QUAD), will enter into a leaseback agreement consistent with current market terms commencing at close. Quad/Graphics provides marketing and advertising solutions for special interest publications out of this location and has invested significant capital into the facility with $18.5 million invested in 2019 and an additional $8.4 million budgeted for 2020.
555 S 108th Street is located in the West Allis industrial submarket which consists of more than 12.8 million square feet and has a current vacancy rate of 5.0%. The submarket is located in the center of the Milwaukee metro and offers immediate access to the Milwaukee CBD via I-94. West Allis is poised for strong near-term growth due to its availability of labor, proximity to a high-density surrounding area, and strategic location with direct access to extensive highway infrastructure and major population centers.
- Predictable in-place cash flow with credit worthy tenant
- Leaseback to established tenant with global client base
- Strategic urban in-fill location
- Strong market fundamentals
- Attractive potential redevelopment opportunity