A Seattle-based real estate investor has acquired for $11.25 million a pair of properties along North Downer Avenue on Milwaukee’s East Side, with tenants including the Downer Theatre, Cafe Hollander, Pizza Man, Henry’s Tavern, Stone Creek Coffee and Boswell Book Co., among others.
Included in the transaction are the buildings located at 2608-2650 N. Downer Ave. and at 2551-2597 N. Downer Ave., according to state records posted this week. The buyer is an affiliate of Seattle-based Bridge33 Capital LLC.
The buildings total nearly 61,000 square feet, and consist of retail space, offices and two residential units.
The buildings were marketed as The Downer Avenue Retail Collection by JLL’s Chicago office. The JLL marketing materials, describe the buildings’ retail tenants as an “internet-resistant” mix of fitness, service, entertainment and restaurant users.
According to city records, the properties have a collective assessed value of approximately $6.32 million.
Get more news and insights in the March 30 issue of BizTimes Milwaukee:
