TITLE TOWN BREWING CO. | $8,450,000 | 7.69% CAP
The Deltondo Advisory Group and Marcus & Millichap are pleased to present for sale Green Bay Rail Yard District Building, a fully occupied multi-tenant office building, located in the city of Green Bay, Wisconsin.
The property is comprised of a 63,925-square foot building and was completely renovated in 2015. Green Bay Rail Yard Innovation District Building is currently occupied by two major tenants who are in the restaurant business, and there are seven other tenants who also occupy office space in the building. Both eateries have recently undergone extensive improvements, the entirety of which will ensure to its investor that the property will operate at full capacity both now and in the future.
In addition to building renovations, the property is situated in a prime location in Downtown Green Bay. It is approximately 3 miles from the famous Lambeau Field, and its proximity to Green Bay’s famous stadium allows for Packers fans to gather at both restaurants before, during, and after games.
Downtown Green Bay is also home to the unique backdrop of the Rail Yard Innovation District, which is a dense, urban, walkable development that is comprised of 22 acres. The development contains local eateries, commercial and retail spaces, and a variety of living options. The area is overall focused on innovation and technology, creating for a high energy environment that is perfect for businesses as well as for customers who spend time in the area.
The property is immediately adjacent to all three major manufacturing companies which include Procter & Gamble, Georgia - Pacific, and Green Bay Packaging Inc. This brings thousands of employees in the immediate area and a lot of traffic to this office building Title Town Brewing Company, which was recently ranked one of the Top 20 Brew Pubs in the country based on volume, and The Cannery Public Market, a farm-to-table restaurant and market that sells wines and spirits, produce, and more are the featured eateries of The Rail Yard Innovation District. The Cannery Public Market first wanted to open its doors closer to Lambeau Field, but this downtown area and having Titletown Brewery as a neighbor made the Rail Yard District an ideal location.
This offering is ideal for an investor who is seeking to purchase a fully stabilized office property in the heart of downtown Green Bay. Its established tenants amass customers from around the country who come to see the Packers, but who stay to enjoy the great food and drinks, views, and history. The property is valued at $132 price per square foot at an in-place capitalization rate of 7.69% with a Pro-forma capitalization rate of a 7.77% due to the built-in rent increases.
320-340 North Broadway
Green Bay, WI 54303