Last updated on May 15th, 2019 at 04:47 pm
Landmark Credit Union has purchased a commercial site on North Port Washington Road in Glendale as part of plans to build a new free-standing branch.
The credit union recently purchased about 2 acres located just east of Interstate 43 at 6270-6310 N. Port Washington Road, according to state records. The land was acquired for $2.5 million from 6310 LLC, which is registered to Thomas Schafer, owner of Bayside Development.
In an emailed statement, Landmark confirmed the land purchase and its intent to build a new branch located at 6300 N. Port Washington Road.
“We are working with the city of Glendale to obtain approval for our plans, however it is too early to comment on any specifics,” Jay Magulski, president and chief executive officer, said in the statement. “We are excited about this opportunity to join the Glendale community and expand our ability to deliver our straightforward options for members everyday financial needs and their long-term financial goals.”
The site was home to four office buildings for nearly 45 years. Then in 2016, the underused buildings were sold in an auction to Schafer, who demolished them. He then brought forward plans to the city to develop a 17,780-square-foot multi-tenant retail and office building at the site.
The new credit union branch is a departure from those development plans, a spokesperson with Landmark confirmed.
Schafer could not immediately be reached for comment.