The development group that recently completed the State Street Station apartments in the Wauwatosa Village area has purchased the former Chancery building slated to become a Jose’s Blue Sombrero this summer.
HSI Jose’s Tosa LLC, an affiliate of Brookfield-based HSI Properties bought the property at 7615 W. State Street from Wauwatosa-based D&A Equipment Co. Inc. for $1.1 million, according to state records.
D&A Equipment Co. is owned by Joseph DeRosa, owner, chairman and CEO of the DeRosa Corp., which owns both the Chancery and Jose’s Blue Sombrero brands.
DeRosa’s son, Tony DeRosa is the executive vice president at HSI Properties.
In November 2016, DeRosa announced it would close the Wauwatosa Chancery after more than 38 years. Plans were announced to renovate the building and convert it to a Jose’s Blue Sombrero.
Renovations to the building are currently underway and the new concept is expected to open in June.
Representatives from HSI and DeRosa could not be reached for comment.
HSI specializes in apartment developments. The company opened The Enclave, a $25 million 192-unit development at North 62nd and West State streets in Wauwatosa in 2010. Last year, it opened State Street Station, a four-story mixed-use development that includes 140 apartments and 20,000 square feet of ground floor retail at 7400 W. State St., Wauwatosa.
