Milwaukee developer Joshua Jeffers has purchased the City Center buildings at The Brewery complex in downtown Milwaukee from Cardinal Stritch University for $2.6 million and will begin converting the buildings into market rate apartments.
At the end of May, the university will move its operations at from the Brewery to its main campus at 6801 N. Yates Road in Fox Point and Glendale.
“As part of our multi-year strategic planning, we examined the best ways to utilize our learning spaces, provide an optimal learning environment for our students, and be good stewards of our resources,” said Cardinal Stritch University president James Loftus.
Jeffers, president of J. Jeffers & Co., could not immediately be reached for comment.
In December, Stritch purchased the property, which consists of two buildings, a three-story 27,754-square-foot office building and a three-story 14,093-square-foot building, for $2.1 million.
Stritch had been in a multi-year lease agreement and exercised the right of first refusal of a purchase offer and won court approval to buy the buildings from BC Pabst.
The property has an assessed value of $3.15 million, according to city records.
