Milwaukee-based restaurant company Lowlands Group has sold its Trocadero Gastrobar on Milwaukee’s East Side for $1 million, according to state records.
Trocadero, located at 1758 N. Water St., was sold to longtime Lowlands employee JJ Kovacovich. The three-story, 6,184-square-foot Trocadero building was built in 1890 and has an assessed value of $805,000, according to city records.
Lowlands owns and operates restaurants Café Benelux in Milwaukee’s Historic Third Ward, Café Centraal in Bay View, Café Hollander locations on Milwaukee’s East Side and in Wauwatosa and Café Bavaria in Wauwatosa. It also operates Lowlands Brewing Co., which brews its bier in Belgium and serves it at the restaurants.
“We’re thrilled to be able to pass the torch to a former employee, and we wish JJ and his team nothing but huge success,” said Lowlands chief executive officer Eric Wagner.
Lowlands announced earlier this year its plans to add two new restaurants under its European-inspired Grand Café concept. The new cafes, at Hilldale Mall in Madison and at the Mequon Town Center development at Mequon and Cedarburg roads in Mequon, will open in 2015.
“We are constantly looking for dynamic, evolving neighborhoods, and both Mequon and Madison are natural choices for our next phase of development,” Wagner said.
Lowlands Group has more than 500 employees, and annual sales have increased at each of its restaurants, the company said.