The Arboretum | 700 Pilgrim Way
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The Arboretum 700 Pilgrim Way
218,323 SF 63% Leased Office Building Green Bay, WI 54304 £9,616,139 (£44/SF)
Virtual Tour
Investment Highlights
- Seller financing is available at 3.75%. Projected 2024 NOI is $4.4 million. (Tenants and Outlot Sales).
- Benefit from credit tenants with long-term leases in place and $2.3 million in improvements completed in 2022 to 2023 to the property.
- The Arboretum offers the unique opportunity to own a 218,323-square-foot mixed-use structure on a 33-acre site with incredible development potential.
- 12 outlot pad sites are available for value-add upside, zoned B-3 District, permitting multifamily, office, hotel, retail, R&D, and mixed-use combo.
- Situated in a booming Green Bay locale near Lambeau Field, across from Simon Mall, Bay Park Square, and a few blocks from Titletown and Resch Center.
- Significant property for the NFL Draft taking place in Green Bay 2025 where multiple uses are possible for this large event.
Executive Summary
Situated in a bustling Green Bay locale, The Arboretum at 700 Pilgrim Way is a 218,323-square-foot office and retail property on a 33-acre site near Lambeau Field. This three-story, mixed-use building was improved by $3.8 million in renovations in 2022 and 2024, including interior and exterior improvements and a 10-year roof warranty. The Arboretum comprises efficient floor plates with large open rooms, private offices, and a kitchen area with a dining hall, and is home to long-term tenants Ayres Associates Inc. and Shopko Optical. The property features modern finishes and skylights allowing abundant natural light.
Investors will benefit from recent property improvements, the existing cash flow from current credit tenants with long-term leases, and immense value-added potential through further redevelopment of the 33-acre site. 700 Pilgram Way is the largest developable parcel in proximity to Titletown, Research Center, and Bay Park Mall. A total of 12 outlot opportunities are available in this desirable mixed-use setting, boasting B-3 District zoning, which permits multifamily, office, hotel, retail, research & development, or a mixed-use combination.
The Arboretum sits in the heart of a robust commercial collective, providing unmatched access to an array of neighborhood conveniences. The property is prominently positioned across from Simon Mall and Bay Park Square and a few blocks from Lambeau Field, Titletown, Research Center, and more. Interstates 43 and 41 make this part of Wisconsin extremely accessible, and employees, residents, and visitors alike appreciate the direct access to the Green Bay Austin Straubel International Airport.
Green Bay is unique in its sense of comradery, thanks to Lambeau Field, home of the Green Bay Packers, positioned at its core. The City of Green Bay is at the southernmost point of the Green Bay, branching off from Lake Michigan. This lively suburb features everything from waterfront views and sporting events to wooded suburban streets and wildlife refuges.
Investors will benefit from recent property improvements, the existing cash flow from current credit tenants with long-term leases, and immense value-added potential through further redevelopment of the 33-acre site. 700 Pilgram Way is the largest developable parcel in proximity to Titletown, Research Center, and Bay Park Mall. A total of 12 outlot opportunities are available in this desirable mixed-use setting, boasting B-3 District zoning, which permits multifamily, office, hotel, retail, research & development, or a mixed-use combination.
The Arboretum sits in the heart of a robust commercial collective, providing unmatched access to an array of neighborhood conveniences. The property is prominently positioned across from Simon Mall and Bay Park Square and a few blocks from Lambeau Field, Titletown, Research Center, and more. Interstates 43 and 41 make this part of Wisconsin extremely accessible, and employees, residents, and visitors alike appreciate the direct access to the Green Bay Austin Straubel International Airport.
Green Bay is unique in its sense of comradery, thanks to Lambeau Field, home of the Green Bay Packers, positioned at its core. The City of Green Bay is at the southernmost point of the Green Bay, branching off from Lake Michigan. This lively suburb features everything from waterfront views and sporting events to wooded suburban streets and wildlife refuges.
Sale Flyer
Data Room Click Here to Access
- Market Information
- Miscellaneous
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Sale Condition
Development Sale
Property Type
Office
Property Subtype
Building Size
218,323 SF
Building Class
B
Year Built
1987
Price
£9,616,139
Price Per SF
£44
Percent Leased
63%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
72,774 SF
Slab to Slab
15 ft
Building FAR
0.15
Land Acres
33.43 AC
Opportunity Zone
Yes
Zoning
B-3 - B-3 Business District
Parking
1,025 Spaces (4.69 Spaces per 1,000 SF Leased)
Amenities
- Basement
- Natural Light
- Partitioned Offices
- Secure Storage
- Suspended Ceilings
- Wi-Fi
- Monument Signage
- Air Conditioning
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease Type
- Lease End
- Ayres Associates, Inc.
- Professional, Scientific, and Technical Services
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
- Shopko Optical
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease Type | Lease End | |
| Ayres Associates, Inc. | Professional, Scientific, and Technical Services | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 | |
| Shopko Optical | Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
First Floor East Wing features a commercial kitchen, dinning hall, skylights, private offices, flex space, open office and access to the loading docks.
First Floor West Wing features a main lobby with skylights, private offices, conference rooms, open office, and flex space.
Combination of open office and private offices for flexible workspace. Equipped with 14 private offices, 9 conference/training rooms.
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste East | 10,000-32,500 SF | Office/Retail | Full Build-Out | Now |
| 1st Fl-Ste West | 5,000-12,673 SF | Office | Full Build-Out | Now |
| 2nd Fl-Ste West | 10,000-35,024 SF | Office/Retail | - | Now |
1st Fl-Ste East
| Size |
| 10,000-32,500 SF |
| Space Use |
| Office/Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste West
| Size |
| 5,000-12,673 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste West
| Size |
| 10,000-35,024 SF |
| Space Use |
| Office/Retail |
| Condition |
| - |
| Available |
| Now |
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STREET VIEW
STREET
MAP
1st Fl-Ste East
| Size | 10,000-32,500 SF |
| Space Use | Office/Retail |
| Condition | Full Build-Out |
| Available | Now |
First Floor East Wing features a commercial kitchen, dinning hall, skylights, private offices, flex space, open office and access to the loading docks.
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1st Fl-Ste West
| Size | 5,000-12,673 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | Now |
First Floor West Wing features a main lobby with skylights, private offices, conference rooms, open office, and flex space.
1 of 14
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3D TOUR
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STREET VIEW
STREET
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2nd Fl-Ste West
| Size | 10,000-35,024 SF |
| Space Use | Office/Retail |
| Condition | - |
| Available | Now |
Combination of open office and private offices for flexible workspace. Equipped with 14 private offices, 9 conference/training rooms.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2020 Population
3,726
68,912
157,421
2024 Population
4,305
69,296
158,974
Population Growth '20-'24
15.5%
0.6%
1.0%
2020 Households
1,892
29,405
66,105
2024 Households
2,215
29,701
66,929
Household Growth '20-'24
17.1%
1.0%
1.3%
Average Age
42
41
39
Median Household Income
$35,413
$61,020
$59,492
Daytime Employees
13,152
68,218
126,499
Total Businesses
1,064
5,300
9,889
College Degree + Higher
24%
30%
27%
$ values in USD
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Breadsmith | Bakery | £ | 8 min walk |
| Stir Fry 88 | - | - | 9 min walk |
| Charleys Philly Steaks | - | - | 9 min walk |
| Nori Japan | - | - | 9 min walk |
| Chick-Fil-A | - | - | 9 min walk |
| Gloria Jean's Coffees | Coffee | £ | 9 min walk |
| Maldonado's | Mexican | £ | 9 min walk |
| Sbarro | Italian | - | 9 min walk |
| Pizza Ranch | - | - | 11 min walk |
| Starbucks | Cafe | £ | 10 min walk |
Retail |
||
|---|---|---|
| Shopko Optical | Optical | In Building |
| Cellcom | Consumer Electronics | 5 min walk |
| Ashley | Furniture/Mattress | 6 min walk |
| Kohl's | Dept Store | 6 min walk |
| Nicolet National Bank | Bank | 7 min walk |
| Marcus Theatres | Cinema | 6 min walk |
| Dave & Busters | Arcade | 9 min walk |
| Carter's | Children Apparel | 9 min walk |
| Rogers & Hollands | Jewellery/Watches | 9 min walk |
| Old Navy | Unisex Apparel | 9 min walk |
Hotels |
|
|---|---|
| My Place |
64 rooms
3 min drive
|
| Home2 Suites by Hilton |
92 rooms
4 min drive
|
PROPERTY TAXES
| Parcel Number | VA-132-1-2 | Total Assessment | £6,360,075 (2022) |
| Land Assessment | £2,696,601 (2022) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £3,663,474 (2022) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
VA-132-1-2
Land Assessment
£2,696,601 (2022)
Improvements Assessment
£3,663,474 (2022)
Total Assessment
£6,360,075 (2022)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
Sale Advisors
Sale Advisors
Murray Wikol, CEO
(248) 988-9341
Contact
Responsible for the development, ownership, finance and management of businesses and real estate valued in excess of $10.4 Billion. Recognized leader in the operations, equity/debt fundraising, sales/marketing, and strategic planning aspects of corporate, public sector, and health care initiatives.
-
Murray Wikol -
Kenyotta Brown -
Shannon Wallace -
ProVisions, LLC
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The Arboretum | 700 Pilgrim Way
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