A joint real estate fund formed by commercial mortgage lending specialists Innovative Capital Advisors and Chicago-based HSA Commercial Real Estate recently purchased the Schwaab Stamp factory building at 11415 W. Burleigh St. in Wauwatosa.
The building is located immediately south of the Mayfair Collection, a mixed-use development by HSA Commercial. The first phase of the Mayfair Collection, consisting of 270,000 square feet or retail space with stores that include Nordstrom Rack and Saks Fifth Avenue OFF 5TH, opened last year. The second phase, which will include a Whole Foods store, is under construction.
HSA plans to redevelop the Schwaab building into a 32,000-square-foot multi-tenant retail building that will complement the Mayfair Collection project across the street.