The Arboretum 700 Pilgrim Way 218,323 SF 46% Leased Office Building Green Bay, WI 54304 $14,232,500 ($65.19/SF)

Presenting The Arboretum, an exceptional 31-acre mixed-use site located at 700 Pilgrim Way in the heart of Green Bay’s most vibrant commercial corridor. Directly south of Lambeau Field and across from Bay Park Square Mall, this high-visibility property combines a fully operational office and retail building with a rare offering of multiple outlot development opportunities.

With flexible B-3 Community Business zoning and the ability to build vertically up to 120 feet, The Arboretum is positioned to become one of the region’s most transformative “live-work-play” destinations. Investors and owner/users alike will benefit from immediate in-place cash flow while unlocking long-term upside through pad site development, vertical mixed-use expansion, or complete site transformation.

Backed by a 2025 projected NOI of $4,350,841, generated by credit tenants and outlot sales, this site offers immediate income with significant future potential. The Arboretum carries a $39.2 million insured value through Cincinnati Insurance Company, covering building, infrastructure, and land.

At the heart of the property stands a 218,323-square-foot mixed-use building, revitalized through $3.8 million in renovations to elevate the tenant experience. The structure spans two above-grade floors plus a lower level with 18-foot clear heights, designed to support a wide range of uses from professional office and medical to hospitality, education, and entertainment. Interiors feature a sunlit two-story atrium, modern office suites, flexible conference and training rooms, exposed brick finishes, tenant lounge areas, and a commercial-grade kitchen and dining hall.

The first floor offers a restaurant-ready space with its own entrance and oversized windows, perfect for a café, brewpub, or market concept. The lower level’s 66,847 SF of flexible space presents a compelling canvas for experience-based entertainment such as pickleball, golf simulators, event space, or retail. On-site amenities include parking for 849 vehicles, multiple loading docks, elevator access, and prominent building signage visible from Pilgrim Way.

Surrounding the main structure, 11 outlot and pad sites present immediate or phased development potential. These sites are ideally suited for national retailers, hotel flags, multifamily, medical clinics, or entertainment venues, with each parcel offering excellent access, visibility, and utility connections. Zoning entitlements allowing vertical expansion up to 120 feet by right support everything from urban-style apartment communities and extended-stay hotels to high-rise commercial offices and destination venues. The scale, location, and zoning make this a rare and highly customizable redevelopment canvas.

Located just 1.5 miles south of Lambeau Field and less than five miles from Green Bay Austin Straubel International Airport, The Arboretum offers superb access to Interstate 41 and 43, and the region’s primary transit corridors. Positioned in a dense commercial node with top-tier retailers such as Kohl’s, Ashley Furniture, Best Buy, EPIC Event Center, Marcus Cinemas, and PetSmart, the property draws from a residential population of nearly 250,000 within a 10-mile radius. Annual consumer spending in the area is nearly $3 billion, underscoring strong demand drivers and long-term growth.

The Arboretum offers investors and developers an unparalleled opportunity to shape the future of Green Bay’s commercial landscape with a trophy site that blends existing revenue, development-ready land, and highly favorable zoning, all in a dynamic and growing market.