420 6th St
Racine, WI 53403
State of Wisconsin Public Defenders NEW LEASE · Office Property For Sale

Marcus & Millichap is pleased to bring to market a 5,810 square foot single tenant office building occupied by the State of Wisconsin – Racine County Public Defender’s office. The department recently signed a new 5 year lease with 5 (one year) options to extend. In 2017, the Public Defender office put in extensive tenant improvements which shows their commitment to the property and location. The public defender’s office is located within 0.3 miles to the Racine Municipal Court which is extremely important due to the guidelines for the strategic locations of the Public Defender’s offices. The Wisconsin State Public Defender’s Office has been providing “justice for all” since 1977, and is an independent, executive-branch state agency that ensures Wisconsin meets its constitutional requirement of providing legal representation to the indigent. The agency provides legal representation to the indigent throughout the stat in all of Wisconsin’s 72 counties. This offering is ideal for an investor who is seeking for a high credit tenant building occupied by a State agency yielding 8.80% the first year with built in increases for the initial term of the lease. The property on a 9-year outlook will give an investor a blended return of approximately 8.54%.