CBRE Group, Inc. announces the offering of a lifestyle office portfolio located in Madison, Wisconsin, on behalf of Vanta Commercial Properties.
The portfolio consists of 2.5 million square feet of high-quality office buildings, and represents the largest office ownership position in the Madison market. The properties are 88% leased, with an average remaining lease term of 6.2 years, and are concentrated in Madison’s largest- and fastest-growing office submarket. The offering includes 15.5 acres of development land targeted for multifamily, retail and office use. The majority of the properties are adjacent to retail, housing, hotel and recreational amenities.
The portfolio is being marketed by Steven Buss of CBRE’s Minneapolis, Minnesota, office, and Paul Lundstedt of CBRE’s Chicago, Illinois, office; both members of CBRE Capital Markets’ Institutional Properties team.
The Madison region is home to more than one million people and was rated the “2015 Best Place to Live in the United States” by Livability.com. Madison is the state capitol and home to the University of Wisconsin at Madison. From 2011 to 2013, Madison tech employment grew by 16%, ranking it among the top 10 U.S. markets for tech job growth.
