A prime development spot along U.S. Highway 45 in Wauwatosa has been sold to Chicago-based investors.
Roundy’s Supermarkets Inc.’s former warehouse properties, 11300 and 11500 W. Burleigh St., were sold by a Roundy’s subsidiary to investors groups affiliated with Chicago-based HSA Commercial Real Estate Inc. for $8.5 million, according to documents filed Thursday with the Milwaukee County Register of Deeds.
The warehouses, built in 1954 and 1955, carry less value than their land, which totals about 39 acres. The parcels bought by HSA Commercial are among about 70 acres east of Highway 45 and north of W. Burleigh St. that have been designated for redevelopment by city officials.
The city plan envisions condominiums overlooking Currie Park along the site’s eastern edge, along with offices and high-tech manufacturing – with many of those buildings along Highway 45. The plan also calls for retail space along W. Burleigh St. and a hotel.
An HSA Commercial executive couldn’t be reached for comment on the firm’s plans for the site.
Other properties north of W. Burleigh St. designated for redevelopment include a 23-acre former Kohl’s Food Stores warehouse site, owned by investors group Burleigh Partners LLC, and a 7-acre parcel owned by Total Logistic Control, a subsidiary of SuperValu Inc.
South of W. Burleigh St., Franklin-based Icon Development Corp. plans to create an office building, retail space, a luxury hotel and condo tower on 6 acres that formerly housed a pair of car dealerships. City officials are waiting for Icon to submit detailed plans for the site, said Nancy Welch, community development director.
By TOM DAYKIN, Journal Sentinel Inc.
