Associated Bank lends more than $20 million for Brookfield Square redevelopment

WhirlyBall, BistroPlex expected to open in Q3

Rendering of redeveloped Sears property.

Last updated on May 15th, 2019 at 04:49 pm

One of the major lenders for the redevelopment of the former Sears store at Brookfield Square mall in Brookfield is Green Bay-based Associated Bank, the bank announced.

Rendering of redeveloped Sears property.

Associated Bank has closed on a $29.4 million syndicated construction loan for the project, in which the 11,972-square-foot space at 115 S. Moorland Road is being demolished and an entertainment complex built in its place. Associated Bank is the lead arranger and administrative agent, holding $20.9 million of the loan. West Suburban Bank holds the rest.

The Sears store closed early this year, and mall owner CBL & Associates Properties demolished the store to make way for a Marcus Theatres BistroPlex and a WhirlyBall entertainment and food establishment. There will also be an Outback Steakhouse and an Uncle Julio’s Mexican Restaurant on nearby pad sites.

Construction is ongoing at Brookfield Square, and is expected to be complete in the third quarter of 2019.

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Molly Dill, former BizTimes Milwaukee managing editor.

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