Office tower at 100 E. Wisconsin sold

Hertz Investment Group, a privately held company based in Santa Monica, Calif., said Monday it has bought the 35-story office building at 100 E. Wisconsin in downtown Milwaukee.

The building’s major tenants include Michael Best & Friedrich, Wells Fargo and the Marcus Corp., the company said. The 435,629-square-foot building is 88% leased.

The purchase – the company’s first in Milwaukee -- was part of its largest acquisition to date, Hertz Investment Group said. Other properties in the acquisition included Salesforce Tower & Circle Building and PNC Center in Indianapolis as well as North Point Office Complex in Cleveland.

The total cost of the portfolio was $416.9 million.

Hertz Investment Group's portfolio now consists of 65 buildings, with a total of roughly 21.7 million square feet, in 22 cities and 17 states.

The company said it focuses on real estate properties with a special emphasis on downtown revitalization.

“One of Hertz’ primary growth strategies has been to acquire best-of-class office buildings in the central business districts of mid-sized markets, and we feel very fortunate to include four such properties in one deal,” Judah Hertz, the company’s chairman and founder, said in a statement.

CW Wisconsin Avenue LLC was listed as the seller of the Milwaukee office tower, according to Milwaukee City Assessor's Office.