| Nestled in southeast Wisconsin, Wauwatosa was tired of looking at the sleepy 1950s industrial buildings at Highway 45 and Burleigh Street. So when HSA Commercial announced it would develop 250k SF of retail on the site, the town had a great reaction, says HSA'sTim Blum. | |||
| HSA explored various uses, but after the economic downturn, it identified a critical demand for retail, Tim tells us. The site is not far from Mayfair Mall, and HSA previously had success redeveloping the under-tenanted Orland Park Place, a shopping center near Orland Square Mall. Tim plans to use the same formula of bringing in tenants that are complementary to those in the upscale regional center. There's a lot of retailers who traditionally locate near, but not in, regional malls looking for space in the Wauwatosa area for a reasonable price, he says. | |||
| The retail center is scheduled to break ground at the end of 2011, but infrastructure improvements are needed first. The cost hasn't been finalized, but Tim hopes it will open in the beginning of 2013. (As you can see, "Lordstrum Rack" and "The Container Place" have already signed LOIs.) HSA's David Keady is handling the leasing for the new retail area. After the initial retail phase is up and running, Tim hasn't ruled out residential, hotels, offices, and MOB. | |||
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