Miami Mortgage News

143- 15100 W Library Lane

January 4th, 2017 4:02 PM by Nour Ailan

15100 W Library Lane

The 6,415 square foot building was constructed in 2006 and is located along National Avenue in the New Berlin City Center on the corner of Michelle Witmer Drive and Library Lane. Established tenant occupying building since 2006. Has exercised one renewal option and has one remaining 5 year option. 3% rent increases each year throughout the primary term and option period. New Berlin is located within the Milwaukee-Waukesha-West Allis MSA. New Berlin Town Center has been developed in last 15 years and includes the City’s library, which is also used as a community center, and has attracted medical, restaurants and other retail uses as well as complete build out of all residential components into higher density multifamily. Additional retailers located in the trade area include Walgreens, Pick n Save, Sendik’s Grocery, Dollar Tree as well as multiple national banks and restaurants. Surrounding area has a growing middle and upper executive workforce with average annual household income of $97,000 within a two mile radius. Forward Dental is a marketing name and the tenant is American Dental Partners of Wisconsin, located in Milwaukee, WI. Forward has 34 locations in Wisconsin and locations are in and around Green Bay, Madison and Milwaukee.

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