MILWAUKEE, WI – [December 15, 2023] – Blue West Capital has completed the sale of a multi-tenant, mixed-use commercial property in the heart of the Bronzeville neighborhood in downtown Milwaukee located at 2220 N Dr. Martin Luther King Jr. Drive, Milwaukee, WI 53212. Carly Gallagher Kelly and Shawn Dickmann, of Blue West Capital, exclusively represented the sellers, local private business owners and investors, in the transaction. The buyer was Emem Group, a real estate development company.
The mixed-use property was built in 1885, consists of 12,557 square feet, and is situated at the hard corner of N Dr. Martin Luther King Jr. Drive and North Avenue. At closing, the property was 77% vacant, allowing the purchaser a unique opportunity to reposition the property. It sold for $1,410,000, or $112 per square foot for the building and $47 per square foot for the land and is located in the historic Bronzeville neighborhood known for its rich heritage, cultural vibrancy, and architecture. In recent years, Bronzeville has experienced an increase in investment and redevelopment, making it an appealing acquisition for investors. Nearby recent developments include the Riverwest Workforce Apartments and Food Accelerator, the Bronzeville Center for the Arts, Howard Fuller Collegiate Academy, America’s Black Holocaust Museum, The Griot Apartments, and ThriveOn Collaboration & Medical College of Wisconsin.
Our marketing strategies are designed for maximum exposure to a large pool of qualified buyers including local and national investors, owner users, and developers, which resulted in significant interest in the property and several offers. We were pleased with the offer from the Emem Group especially given their in-depth knowledge of the neighborhood and their involvement in most of the redevelopment activities in the area.Shawn Dickmann, Investment Sales Associate
This asset offered investors the opportunity to acquire 0.69 acres in the heart of the Bronzeville neighborhood in downtown Milwaukee. With the influx of recent redevelopment and investment going into this area, it was well received by both local and national investors. We were able to create a competitive bidding environment for our client despite some of the macroeconomic headwinds, and we achieved one of the highest prices for the area in the last few years.Carly Gallagher Kelly, Director
Be the first to know about new investment properties.
Subscribe to our mailing list