Founders 3 is pleased to offer the fee simple interest in 144 E Summit Avenue (the “Property” or the “Wales Professional Building”), a multi-tenant, Class A office building located in Wales, WI. Constructed in 2004 atop a 1.35-acre (“AC”) site, the Property consists of approximately 11,249 square feet (“SF”) and is currently 56.1% occupied with a weighted-average lease term (“WALT”) of 3.4 years. The Wales Professional building is home to two esteemed medical tenants, Aurora Medical Group (“Aurora”) and Bubon & Associates (“Bubon”), both of which have demonstrated strong loyalty, as reflected in their weighted average length of tenancy of nearly 15 years.
The Property offers a prime opportunity for an owner user to occupy its sole vacant suite while benefiting from the existing income in-place. Additionally, investors can unlock significant value through lease-up of the Property’s vacant suite and marking rents to market. The Wales Professional Building is being offered for sale for the first time since its development, presenting a rare opportunity to acquire a meticulously maintained asset in a high-performing submarket with a remarkably low vacancy rate of just 1.0%