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Developer Sells Historic Pabst Brewery Building in Downtown Milwaukee

Recently Renovated Pabst Boiler House Number 10 Trades for $5.7 Million
October 1, 2018
Locally based developer PBH Redevelopment LLC sold a recently renovated office building within the former Pabst Brewery in downtown Milwaukee to a local investor J. Vollrath LLC for $5.7 million, or about $140 per square foot.

Known as Pabst Boiler House Number 10, the 40,744-square-foot building was one of the first buildings within the former brewery, now a mixed-use development called The Brewery, to be redeveloped into creative office space.

The Brewery now includes five apartment complexes, a 400-bed student housing complex, three office buildings and two breweries, according to locally based developer Zilber Property Group’s website.

Originally built in 1892, PBH acquired Pabst Boiler House Number 10 in 2007 with plans to update the historic building to attract a new crowd of office tenants. At the time of the sale, the renovated office building was fully leased to tenants like law firms Borgelt, Powell, Peterson & Frauen S.C., and Ogletree Deakins.

Tom Shepherd, Scott Welsh, Lyle Landowski and Jennifer Huber-Bullock of Colliers International Wisconsin brokered the deal on behalf of the seller.

Please see CoStar COMPS #4527067 for more information on this transaction.
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