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| Timothy C. Blum |
CHICAGO, IL and MILWAUKEE, WI — A joint real estate fund formed by commercial mortgage lending
specialists, Innovative Capital Advisors (ICA), and Chicago-based HSA
Commercial Real Estate, a full-service real estate firm, recently purchased the
Schwaab Stamp Factory building located at the southwest corner of Burleigh
Street and 114th Street across from The Mayfair Collection in Wauwatosa, Wis.
HSA Commercial plans to adaptively repurpose and expand the
current light industrial building into a 32,000-square-foot multi-tenant retail
shopping center that will complement the firm’s mixed-use development taking
place across the street.
The Schwaab building, located at 11415 West Burleigh Street,
is immediately south of The Mayfair Collection, a 270,000-square-foot retail
shopping center anchored by Nordstrom Rack and Saks Fifth Avenue OFF 5TH.
“In a lot of ways, we see the Schwaab property as being a
gateway to The District given its prominent visibility to travelers on Highway
45 and visitors of The Mayfair Collection,” said Tim Blum, executive
vice president of Retail Development with HSA Commercial.
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| Rendering of The Mayfair Collection Development Wauwatosa, WI |
“In order to achieve
the City’s vision for a vibrant, mixed-use corridor, we necessarily have to
redevelop this building into a retail flagship that will signify the
transformation of this historically industrial area.”
HSA Commercial plans to break ground on the redevelopment in
fall 2015 with delivery scheduled for retail tenants in summer 2016.
For a complete copy of the company’s news release, please
contact:
Mark Thomton, mthomton@taylorjohnson.com,
312-267-4523
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