Water Street Office & Coworking Center is a 6,500 SF coworking space located on Milwaukee’s famous Water Street. The popular coworking center is located on the top floor of the building and has been open for 5 years. This successful business (not the building) is now available for purchase. This is a turn-key opportunity complete with the business, existing leases, staff, furniture, equipment, websites and supplies.
The coworking business is exploding nationwide. The percentage of employees at companies using coworking has doubled over the past two years, with nearly one-quarter of all global workforces expected to be using coworking space within five years.
The business is available due to current owners out of state relocation. While the business has been successful since inception, there is tremendous upside for the buyer who puts more focused effort into leasing work stations, meeting rooms and offering events. The current owner has focused primarily on leasing the private offices. The coworking center could also be expanded to additional areas in the building or onto the roof above. Additional rooftop space with patio overlooking the city should be seriously considered.
Water Street Office & Coworking Center provides professional working environments with a unique entrepreneurial spirit. Tenants have 24/7 access. State-of-the-art print center. Every office is fully furnished and internet ready. Fully furnished kitchen. Men’s and women’s restrooms. Great views of downtown. Great signage (two huge banners) on Water Street. Leases are signed using a simple, turn-key process.
Competitive advantages include larger offices, lower rents per square foot and storage space available to tenants.
Coworking centers appeal to mobile workers, small and medium businesses, corporate workers, international workers, freelancers, start ups, established companies, project teams, business nomads, entrepreneurs. Get in on this hot new trend while entrepreneurs and corporations ramp up their use of flexible office space.
“Companies want the flexibility to adjust their occupancy to meet changing business needs and a better workplace experience to attract and retain top talent.” said a local CEO and tenant.
Seller may finance up to $100,000 of the purchase for qualified buyers. Offers contingent upon bank financing will not be considered. Previous 12 months financials will be provided to qualified buyers only. The initial lease term is 5 years with 5 additional options to extend the lease for 3 years each.
