Net Lease v Wisconsin

CBRE sells Manpower headquarters building in downtown Milwaukee

CBRE Capital Markets has arranged the sale of Manpower’s headquarters in Milwaukee, a 280,0000 square-foot, single-tenant net lease office building, to Bentall Kennedy for $66.5 million.

Guy Ponticiello, Paul Lundstedt, Bill Bonifas and Maury Vanden Eykel of CBRE’s Chicago office represented the seller, Riverbend Place.

Located at 100 Manpower Place, the Class-A office building is in the center of downtown Milwaukee’s entertainment and arts center and situated on 2.74 acres of the Milwaukee Riverfront. The property is Milwaukee’s first LEED-certified building.

The property is 100-percent net-leased through August of 2031 to Manpower Group Inc.

This transaction depicts a consistent and growing trend of foreign capital investments into office properties in the United States. According to CBRE Research, foreign capital investment into single tenant office properties has increased substantially, tripling in 2016 from 2013.