Wauwatosa-based Penzeys Spices plans to buy the former Northridge Mall on the far northwest side of Milwaukee.
City officials said Bill Penzey of Penzeys Spices has already put some $800,000 in the deal to pay utility bills and back taxes. Penzey’s reportedly intends to pay about $700,000 more to site owner U.S. Toward Group Inc., led by Chinese investor Wu Li.
The vacant mall will be revitalized into a center for food retail, warehousing and distribution. Penzeys’ corporate offices will be moved there from Brookfield.
“I am ecstatic about the development at the former Northridge Mall,” said Milwaukee Mayor Tom Barrett. “Bill Penzey has ambitious plans, and the city will work with him to bring his plans to fruition. The site has been a drag on Milwaukee’s northwest side for too long. And there is now a renewed reason for optimism. Both the Department of City Development and the Common Council – particularly Alderman Bob Puente – have worked to support this effort, and we all have reason to celebrate.”
City officials said cleanup of the mall property and building will begin soon. The remodeling is projected to be complete sometime by the end of 2014.
Northridge was closed as a shopping center in 2003.
