CBRE Completes Portfolio Sale in Milwaukee’s North Water Street Corridor

CBRE has arranged the sale of a retail property at 1127 N. Water Street in Milwaukee. Pourman's Bar owner and operator Ben Hebl purchased the property through True North Equity LLC from 1127 N WATER STREET LLC. The transaction marks the final closing in a four-property portfolio disposition completed by the seller over the past year.

Sean Beuche and Matson Holbrook of CBRE represented the seller in the transaction.

"This transaction was about conviction," said Beuche. "Ben has operated his business profitably on Water Street for more than a decade. He knows the corridor, the customer base and the long-term upside better than any outside buyer could. We're proud to have closed the final piece of this portfolio transaction, delivering a complete result for the seller."

Hebl opened Pourman's in 2013 after playing professional basketball in Prague, Czech Republic, where he was first introduced to table-top beer tappers commonly found in Central European pubs.

The 2,154-square-foot property was constructed in 1890 and is located along North Water Street near its intersection with Juneau Avenue in downtown Milwaukee's Water Street entertainment district, proximate to several bars, restaurants, live music venues and retail.

"Downtown Milwaukee continues to attract investment from businesses and owners who believe in the long-term strength of the market, including Ben," added Beuche. "The City of Milwaukee is reinforcing that momentum with a planned redesign and reconstruction of the North Water Street corridor, with utility and construction work anticipated through 2026 and 2027."