{"id":1004179272,"date":"2017-06-06T04:34:53","date_gmt":"2017-06-06T12:34:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004179272"},"modified":"2022-12-08T01:29:26","modified_gmt":"2022-12-08T09:29:26","slug":"bentall-kennedy-teams-up-with-warba-bank","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bentall-kennedy-teams-up-with-warba-bank\/","title":{"rendered":"Bentall Kennedy Teams Up With Warba Bank"},"content":{"rendered":"

By Keith Loria<\/em><\/p>\n

Bentall Kennedy is serving as the real estate advisor<\/a> for Warba Bank K.S.C.P., and has acquired a Class A, 280,000-square-foot office building in\u00a0Milwaukee, Wis., from The Brewery Works Inc.<\/p>\n

\"100<\/a>

100 Manpower Place in Milwaukee, Wis.<\/p><\/div>\n

\u201cWe felt that there was tremendous appeal to the property,\u201d <\/em>Clint Hinds, Bentall Kennedy\u2019s senior vice president, portfolio management, told Commercial Property Executive. \u201cThe building is an exceptionally maintained property with a LEED Gold rating and frontage along the Milwaukee River.\u00a0The tenant\u2019s lease was recently extended through 2031 and its urban location continues to attract a steady flow of new office users and residents to the neighborhood.\u201d<\/em><\/p>\n

The building is currently leased by ManpowerGroup and used for its world headquarters.<\/p>\n

CBRE represented the seller in the transaction. The price was not disclosed.<\/p>\n

\u201cWe\u2019ve observed that the surrounding neighborhood is experiencing significant growth in new development of office space and multifamily units,\u201d <\/em>Hinds said. \u201cThis, coupled with the tenant\u2019s lease recently being extended for the long-term made the timing right for this transaction.\u201d\u00a0<\/em><\/p>\n

The property is an institutional quality, Class A office building with modern finishes and a LEED Gold distinction, which directly aligns with the company\u2019s investment thesis and the value that Bentall Kennedy places on assets that adhere to the highest environmental standards.\u00a0<\/p>\n

In 2008, the building was named Best New Development Office by the Business Journal Real Estate Awards<\/em>.<\/p>\n

The property is located just a half mile north of the new Milwaukee Bucks arena, and adjacent to the $1 billion\u00a0Wisconsin Entertainment District development.<\/p>\n

\u201cThe ongoing development in the surrounding neighborhood was seen as a key factor in the decision to acquire the property,\u201d <\/em>Hinds said. \u201cThe property is in the center of new commercial development that will solidify the desirability of the area for potential residents and tenants for many years to come.\u201d<\/em><\/p>\n

Bentall Kennedy\u2019s partnership with Warba Bank has set a goal to invest $100 million of equity over the next year with flexibility to increase the investment target going forward.\u00a0According to Hinds, the initial investment activity will focus on a mix of office, medical office and multifamily properties.\u00a0\u00a0 \u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The partnership\u2019s initial investment is a Class A, 280,000-square-foot office building in Milwaukee, which serves as the world headquarters for ManpowerGroup. <\/p>\n","protected":false},"author":451,"featured_media":1004179278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,13,21742,21747],"tags":[33217,32789,32779,35974],"class_list":["post-1004179272","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-midwest","category-latest","category-office","tag-bentall-kennedy","tag-cbre","tag-leed","tag-warba-bank"],"acf":[],"yoast_head":"\nBentall Kennedy Teams Up With Warba Bank - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bentall-kennedy-teams-up-with-warba-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bentall Kennedy Teams Up With Warba Bank\" \/>\n<meta property=\"og:description\" content=\"The partnership\u2019s initial investment is a Class A, 280,000-square-foot office building in Milwaukee, which serves as the world headquarters for ManpowerGroup.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bentall-kennedy-teams-up-with-warba-bank\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-06T12:34:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T09:29:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/06\/100-Manpower-Place-Milwaukee-Wis..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bentall-kennedy-teams-up-with-warba-bank\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bentall-kennedy-teams-up-with-warba-bank\/\",\"name\":\"Bentall Kennedy Teams Up With Warba Bank - 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