Commercial real estate trade publication Commercial Real Estate Direct is reporting that Newton, Mass.-based HRPT Properties Trust Inc., a real estate investment trust (REIT), is buying the Milwaukee Center office tower located at 111 E. Kilbourn Ave. in downtown Milwaukee, from Chicago-based Transwestern Investment Co. for $55 million.
The 26-story, 378,717-square-foot Milwaukee Center was built in 1987 and has an assessed value of $57.5 million, according to city records. Representatives for Transwestern and HRPT could not be reached for comment.
Holliday Fenoglio Fowler is representing Transwestern in brokering the sale. Jamie Fink, managing director for Holliday Fenoglio Fowler, declined to comment.