Carl Tomich, the president and owner of Waukesha-based Westridge Builders Inc., recently purchased StoneFire Pizza Co., a kids-themed pizza buffet, entertainment and party venue, from developer David Church for $2.8 million.
Church built the 37,000-square-foot building at 5320 S. Moorland Road, New Berlin, and opened the business in 2006.
StoneFire has been a popular destination for kids and families but Church said he was “way over leveraged,” and ran into financial problems with the business. His total investment to start the business was $12 million, including $7 million for the land and building.
“I spent a lot of money to open it,” he said. “That was a burden to the business that we could never overcome.”
Madison-based AnchorBank had an $11 million judgment on the property, Church said.
Despite the financial problems, StoneFire has remained open.
“It’s a great facility, it’s well operated,” Church said. “The business itself has always been very steady. Party sales are very strong. We’re starting to see an up-tick in walk-in traffic.”
Church is now working for StoneFire in a consulting role.
“The future should be very bright for the business,” he said. “As a whole people love the concept and love StoneFire.”
