Three Gear Holdings LLC Purchases Office Building At 20300 Water Tower Boulevard For $3.7M
20300 Water Tower Boulevard
$3,700,000
$89/SF
Building Size
41,553 SF
Asset Type
Office
Closing
Nov 24, 2025
About this deal
AI
A two-story office building located at 20300 Water Tower Boulevard in Brookfield has been sold for $3.7 million. The property encompasses 41,553 square feet and is situated on a 4.1-acre lot. This Class A office building, constructed in the early 1990s, features 214 parking spaces and continues to maintain partial leasing agreements with Erie Insurance.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,700,000
- Sale Date: 11/24/2025
- Buyer: Three Gear Holdings LLC
- Broker: Marcus & Millichap
- Price Per Square Foot: $89
- Market: Brookfield, WI
The transaction was facilitated by Marcus & Millichap, acting as the broker in the sale. Three Gear Holdings LLC is identified as the buyer, making this acquisition a notable addition to their portfolio. The office building's leasing situation with Erie Insurance indicates ongoing operational activity within the property.
On the Map
$3,700,000
$89/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.29%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93