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GlobeSt.com EXCLUSIVE: Chicago TIC Sponsor Buys in Wisconsin

MILWAUKEE-TSG Real Estate arranges the tenant-in-common acquisition of a 100,000-sf eight-story office building here that is 76% leased.

By Brian K. Miller | Updated on January 11, 2006

(To read more on the TIC market, click here.)

MILWAUKEE-Wispark LLC, the development subsidiary of Wisconsin Energy Corp., has sold a 100,000-sf, eight-story building here to TIC sponsor TSG Real Estate of Chicago for $20 million. The property is the former US Bank Building at 211 Wisconsin Ave. that Wispark began fully renovating last spring.

The building is 76% leased. The only tenant is the General Services Administration. The GSA leased the space last summer on behalf of the Internal Revenue Service. The lease term is 20 years. When it moves into the building, the IRS will vacate the Reuss Federal Plaza building at 310 W. Wisconsin Ave.

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