Best Place investors reach settlement

The membership of Brew City Redevelopment Group LLC, which includes an investors group led by Best Place owner Jim Haertel and another group that includes Wauwatosa accountant Daniel Glaser, has entered into an agreement that settles a legal battle between the two groups, Haertel announced.

 
“All parties are pleased to be resolved of the matter amicably,” Haertel said.

Brew City Redevelopment Group LLC owns the former Pabst gift shop, Blue Ribbon Hall and corporate office space of the former Pabst brewery in downtown Milwaukee. Brew City Redevelopment Group had negotiated with Cincinnati Restaurant Group to open a Hofbrauhaus brew pub and restaurant in the Pabst complex. But the deal fell through. Instead Brew City opened a new gift shopping mostly selling vintage Pabst items, a bar and leased Blue Ribbon Hall out for events. Brew City also provides tours of its complex, which is just a small portion of the entire former brewery site. 

Glaser and his group were upset that the deal for the Hofbrauhaus project did not move forward and they sued Haertel’s group.

Glaser could not be reached for comment this morning.

Haertel said he, his wife Karen, his mother Janice and Tom and Marge Volke will remain members of Brew City Redevelopment Group.

Those partners have bought out the interest of Glaser and the other members, Haertel said.

The U.S. Small Business Administration (SBA) recently approved a loan guarantee for a $675,000 loan from First Bank Financial Centre for Brew City Redevelopment Group. That financing is being used to buy out Glaser and the other former members, Haertel said.

Haertel said the settlement enables him to move forward with his next plan for the property. He wants to create a new ballroom in a 4,800-square-foot space in the office building portion of the complex, built in 1880, next to the former Capt. Frederick Pabst office.

Best Place is also expanding its service by opening on Wednesdays as of July 10, Haertel said. It will remain closed on Tuesdays.

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