A Potbelly Sandwich Shop will occupy a 2,090-square-foot space in the former Proposect Mall, located on Milwaukee’s East Side, which is being expanded and redeveloped.
Milwaukee-based Joseph Property Development LLC and Milwaukee-based Boulder Venture LLC are redeveloping the former Prospect Mall site, located just off North Avenue, west of the Prospect Avenue and Ivanhoe Place intersection.
Once the project is complete, the building will have 52 market rate apartments and 10,000 square feet of retail space. The existing building is being gutted to create the retail space and indoor parking space. Four levels of apartments will be built on top of the existing building. Boulder Venture will own the retail space and Joseph will own the apartments.
Potbelly will occupy a first floor retail space on the entire Ivanhoe Place side of the building and the Ivanhoe and Prospect Avenue corner. Josh Minkin of Alpine Commercial Real Estate Services LLC is the listing broker for the retail space.
“We’re having some good discussion with some smaller, regional boutiques (for the remaining 8,000 square feet of retail space in the project),” Minkin said.
The property has been an eyesore so long many potential tenants were skeptical about the project, he said.
“Now that people are seeing construction taking place I think we are getting some good momentum,” Minkin said.