Joseph Zilber, the founder of Milwaukee-based Zilber Ltd. who is redeveloping the former Pabst brewery property in downtown Milwaukee into a mixed-use neighborhood called The Brewery, announced that a group of investors, including former Green Bay Packer Mark Chmura, are buying a three-story, 28,000-square-foot building in the brewery complex.
The sale was brokered by Mike Kleber of Towne Investments. The sale price was not disclosed.
Zilber has torn down some of the buildings in the brewery complex and plans to gut the rest down to their brick shells. He plans to sell some of the buildings to other developers and will redevelop some of the buildings himself.
Chmura, his brother Matt Chmura, and Sonny Bando (a developer and son of former Milwaukee Brewer Sal Bando) are the principals of BC Pabst Holdings, which is purchasing the former research lab building (also known as building 14) in the brewery complex. The three-story, 94-year-old building has 28,000 square feet of space and features a 1,200-square-foot penthouse with city skyline views.
The BC Pabst Holdings owners own two other historic building in downtown Milwaukee, the Germania Building at 135 W. Wells St. and the Iron Block Building at 200 E. Wisconsin Ave.
"They’re very bright guys," said Mike Mervis, Zilber’s assistant. "We’ve been amazed at this kind of cadre of people who know historic buildings that keep coming forward (interested in buying the Pabst buildings). Every time we turn around we find more and more of them."
BC Pabst Holdings plans to convert the building into office space. The penthouse will be converted into a conference room.
"We have established expertise in the development and management of historic buildings in the Milwaukee area," said Matt Chmura. "The Pabst project is one of the most exciting undertakings that we have ever participated in. We are extremely happy to be part of Joe Zilber’s legacy and have been amazed at the initial response that we have received from potential tenants who want to become part of the Brewery and play a critical role in the building of Milwaukee’s next great neighborhood."
The building is the fourth to be sold in the Brewery Project.
Urban Spaces, a partnership of Milwaukee residents Christopher Dobs, Damingo Jones and Daniel Block, are buying the three-story, 14,000-square-foot historic blacksmith, wagon and paint shop building next to the former research lab building. They plan to move their upscale European flower shop, Urban Sense, from 5911 W. Vliet St. in the Washington Heights neighborhood to occupy half of the space on the first floor of the building. They also plan to create four two-story loft condos in the building.
Madison-based Gorman & Co., plans to convert the 138,000-square-foot former keg house in the Pabst complex into the 85-unit Blue Ribbon Loft Apartments.
Boiler House LLC, an investors group led by developers Max Dermond and Charles Trainer, plans to redevelop the brewery’s 55,000-square-foot former boiler house. The Albion Group Architects will move its offices to 4,000 square feet of space in that building.
"The interest in the project has far exceeded our expectations," Zilber said. "We are continuing to work on the International Trade Center and the development of the bottling building, which at 237,000 square feet is the largest in the project. We have been pleased with the response from developers who see the value in our three parcels of vacant land that we are marketing. I would anticipate that we will have another major announcement or two before the end of the year."
More information about the redevelopment of the former Pabst brewery is available at: http://www.pabstproject.com
