The Arboretum 700 Pilgrim Way
218,323 SF 48% Leased Office Building Green Bay, WI 54304 $12,250,000 ($56/SF)
Investment Highlights
- Seller financing is available at 3.75%. Projected 2024 NOI is $4.4 million. (Tenants and Outlot Sales).
- Benefit from credit tenants with long-term leases in place and $2.3 million in improvements completed in 2022 to 2023 to the property.
- The Arboretum offers the unique opportunity to own a 218,323-square-foot mixed-use structure on a 33-acre site with incredible development potential.
- 12 outlot pad sites are available for value-add upside, zoned B-3 District, permitting multifamily, office, hotel, retail, R&D, and mixed-use combo.
- Situated in a booming Green Bay locale near Lambeau Field, across from Simon Mall, Bay Park Square, and a few blocks from Titletown and Resch Center.
- Significant property for the NFL Draft taking place in Green Bay 2025 where multiple uses are possible for this large event.
Executive Summary
Investors will benefit from recent property improvements, the existing cash flow from current credit tenants with long-term leases, and immense value-added potential through further redevelopment of the 31-acre site. 700 Pilgram Way is the largest developable parcel in proximity to Titletown, Research Center, and Bay Park Mall. A total of 12 outlot opportunities are available in this desirable mixed-use setting, boasting B-3 District zoning, which permits multifamily, office, hotel, retail, research & development, or a mixed-use combination.
The Arboretum sits in the heart of a robust commercial collective, providing unmatched access to an array of neighborhood conveniences. The property is prominently positioned across from Simon Mall and Bay Park Square and a few blocks from Lambeau Field, Titletown, Research Center, and more. Interstates 43 and 41 make this part of Wisconsin extremely accessible, and employees, residents, and visitors alike appreciate the direct access to the Green Bay Austin Straubel International Airport.
Green Bay is unique in its sense of comradery, thanks to Lambeau Field, home of the Green Bay Packers, positioned at its core. The City of Green Bay is at the southernmost point of the Green Bay, branching off from Lake Michigan. This lively suburb features everything from waterfront views and sporting events to wooded suburban streets and wildlife refuges.
Sale Flyer
Data Room Click Here to Access
- Market Information
- Miscellaneous
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | $99,999 | $9.99 |
Vacancy Loss | $99,999 | $9.99 |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Property Facts
Amenities
- Basement
- Natural Light
- Partitioned Offices
- Secure Storage
- Drop Ceiling
- Wi-Fi
- Monument Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Ayres Associates, Inc.
- Professional, Scientific, and Technical Services
- 99,999 SF
- $9.99
- Lorem Ipsum
- Jan 0000
- Shopko Optical
- Health Care and Social Assistance
- 99,999 SF
- $9.99
- Lorem Ipsum
- Jan 0000
Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
Ayres Associates, Inc. | Professional, Scientific, and Technical Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
Shopko Optical | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- Lower Level
- 2,000-56,681 SF
- Flex
- -
- Now
First Floor East Wing features a commercial kitchen, dinning hall, skylights, private offices, flex space, open office and access to the loading docks.
First Floor West Wing features a main lobby with skylights, private offices, conference rooms, open office, and flex space.
Combination of open office and private offices for flexible workspace. Equipped with 14 private offices, 9 conference/training rooms.
Space | Size | Space Use | Condition | Available |
Lower Level | 2,000-56,681 SF | Flex | - | Now |
1st Fl-Ste East | 5,000-14,071 SF | Office/Retail | Full Build-Out | Now |
1st Fl-Ste West | 5,000-16,023 SF | Office | Full Build-Out | Now |
2nd Fl-Ste West | 5,000-26,456 SF | Office/Retail | - | Now |
Lower Level
Size |
2,000-56,681 SF |
Space Use |
Flex |
Condition |
- |
Available |
Now |
1st Fl-Ste East
Size |
5,000-14,071 SF |
Space Use |
Office/Retail |
Condition |
Full Build-Out |
Available |
Now |
1st Fl-Ste West
Size |
5,000-16,023 SF |
Space Use |
Office |
Condition |
Full Build-Out |
Available |
Now |
2nd Fl-Ste West
Size |
5,000-26,456 SF |
Space Use |
Office/Retail |
Condition |
- |
Available |
Now |
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
---|---|---|---|
Breadsmith | Bakery | $ | 8 min walk |
Stir Fry 88 | - | - | 9 min walk |
Charleys Philly Steaks | - | - | 9 min walk |
Nori Japan | - | - | 9 min walk |
Chick-Fil-A | - | - | 9 min walk |
Gloria Jean's Coffees | Coffee | $ | 9 min walk |
Maldonado's | Mexican | $ | 9 min walk |
Sbarro | Italian | - | 9 min walk |
Pizza Ranch | - | - | 11 min walk |
Starbucks | Cafe | $ | 10 min walk |
Retail |
||
---|---|---|
Shopko Optical | Optical | In Building |
Cellcom | Consumer Electronics | 5 min walk |
Ashley | Furniture/Mattress | 6 min walk |
Kohl's | Dept Store | 6 min walk |
Nicolet National Bank | Bank | 7 min walk |
Marcus Theatres | Cinema | 6 min walk |
Dave & Busters | Arcade | 9 min walk |
Carter's | Children Apparel | 9 min walk |
Old Navy | Unisex Apparel | 9 min walk |
Hotels |
|
---|---|
My Place |
64 rooms
3 min drive
|
Home2 Suites by Hilton |
92 rooms
4 min drive
|
PROPERTY TAXES
Parcel Number | VA-132-1-2 | Total Assessment | $8,102,100 (2022) |
Land Assessment | $3,435,200 (2022) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $4,666,900 (2022) | Tax Year | 2024 |