MILWAUKEE—Few buildings in this city are as recognizable as the historic Gas Light Building, and 626 East LLC, a Milwaukee-based investor group led by Jim Drescher, has just sold the 20-story downtown structure to an affiliate of M & J Wilkow. A team from JLL closed the sale on behalf of the investor group. The price was not disclosed.
President Joe Weirick handled the transaction for RAIT Commercial, LLC; vice president John Wiechart led acquisition efforts for M & J Wilkow, and managing director Jim Postweiler led the JLL team on the transaction.
“We are excited to take on our role of caretaker of the iconic Gas Light Building and to serve its existing and future tenants,” says Wiechart. “The building is an amazing Art Deco structure in an increasingly vibrant area of Downtown Milwaukee and our efforts will be focused on creating contemporary, full-amenity office space within a beautiful historic structure.”
The building, located in the Downtown East submarket, is best known for a 21-foot weather beacon atop its roof. It totals 131,727 square feet and also has a 212-space parking structure.
M & J Wilkow will manage the building and Wangard Partners will provide local on-site services. M & J Wilkow currently provides management to over thirty office buildings and shopping centers around the US.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
