Two office buildings in the Bishop’s Woods office park in Brookfield were recently sold in a sheriff’s auction for $18.3 million, according to state records.
The Pinnacle I office building, located at 13890 Bishops Drive in Brookfield, and the Pinnacle II office building, located at 13935 Bishops Drive, were sold by an affiliate of Farmington Hills, Michigan-based commercial real estate firm Friedman Real Estate to an affiliate of Overland Park, Kansas-based Midland Loan Services, a division of Pittsburgh-based PNC Bank.
Pinnacle I is a four-story, 65,000-square-foot office building, built in 1999. Tenants include Nagel Architects + Engineers, Wellspring Personal Financial Services, Marcus & Millichap and JBIM – A Division of RMB Asset Management
Pinnacle II is a three-story, 101,251-square-foot office building, built in 2003. Tenants include Windstream and TEKsystems.
The two buildings have a combined assessed value of $12.67 million, according to Waukesha County records.
The Brookfield submarket had a 24.5% office space vacancy rate, one of the lowest in the metro area, according to the latest market report from REDI in partnership with Moody’s and the Commercial Association of Realtors Wisconsin. However, the Brookfield submarket absorbed 84,823 square feet of office space during the second quarter, the most of the area’s office submarkets.
The Pinnacle I office building, located at 13890 Bishops Drive in Brookfield.
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View all postsElizabeth Morin is a writer based in Virginia Beach. She is passionate about local sports, politics and everything in between.
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