APW North America, Inc. had four years remaining on the lease and was current on its rent payments, Great Lakes REIT says, but Humana Wisconsin Health Organization also desired the space, which APW North America never occupied.
The health insurance company joins a tenant roster that includes Microsoft, Cisco Systems, Salomon Smith Barney and Eli Lilly, says Great Lakes REIT president and chief executive officer Pat Hunt.
The REIT's 97,000-sf One Riverwood Place was 94.9% occupied, according to the company's most recent quarterly report. Great Lakes' 1.1-million-sf Milwaukee area portfolio—20% of its entire holdings—had a 78.4% occupancy rate at the end of the first quarter.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
