One of downtown Milwaukee’s largest office towers is in foreclosure after losing its largest tenant to a new building.
The 35-story 100 East, 100 E. Wisconsin Ave., has an occupancy rate of around 50%, according to one source.
The 435,629-square-foot building was 88% leased when it was sold in 2016 for $78 million. Its current assessed value is $73.7 million.
The building’s owner, an affiliate of Santa Monica, Calif.-based Hertz Investment Group, doesn’t appear to be contesting a foreclosure suit pending in Milwaukee County Circuit Court.
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