General Capital buys Bluemound Road retail buildings
An affiliate of Fox Point-based real estate firm General Capital Group recently purchased the Capitol Plaza retail buildings at 14625 W. Capitol Dr., Brookfield, from Michael L. Green LLC of Milwaukee for $2.95 million, according to state records. The property consists of three buildings with a total of 36,500 square feet of retail space. The space is about 80 percent occupied. Tenants include Warren Barnett Interiors, Studio VIA School of Dance, Bliss Bridal and Freedom Physical Therapy. “It’s an investment deal for us,” said David Jubelirer, vice president and had of acquisitions for General Capital Group. “We believe in the long term growth and viability of that (Capitol Drive) corridor.”
Harp & Eagle buys Clarke Hotel for $1 million
Harp & Eagle Ltd., which owns several small hotels and restaurants in Wisconsin including Country Clare Irish Inn & Pub in Milwaukee, recently purchased the 20-room Clarke Hotel in downtown Waukesha for $1 million, according to state records. The hotel, located at 314 W. Main St., was sold by Sheboygan-based Community Bank & Trust, which took the hotel back in a foreclosure action last year. Harp & Eagle bought the hotel at a price well below the property’s assessed value of $5.05 million, according to Waukesha County records. The hotel opened in 2008 and was developed by Andrew Ruggeri and Drew Vallozzi, who converted a former rooming house building into the hotel.
Lakeland College to move local center from West Allis to Milwaukee
Lakeland College, located in rural Sheboygan County, will move its Milwaukee Center from West Allis to the Honey Creek Corporate Center at 9000 W. Chester St. in the City of Milwaukee this fall. The new location will house the college’s evening, weekend and online program classes offered in the Milwaukee area. The college will occupy the majority of the third floor of the Honey Creek Corporate Center IV building. Lakeland’s space in the building, which is nearly 16,000 square feet, will include 11 classrooms, one laptop lab and one computer lab, a student lounge, eight offices, Wi-Fi throughout the facility and ample free parking. Classrooms will be available for daytime rentals to businesses, clubs and other organizations. Lakeland College expects to move from its current location at 1135 S. 70th St. in West Allis to the new facility this September. It’s unclear if the move will happen before fall classes start on Sept. 2. Lakeland College has offered evening degree programs in Milwaukee since 1979. Today, the college serves more than 400 students in the Milwaukee area.
Corner Bakery to open first Wisconsin location at Mayfair Collection
Corner Bakery Café, a chain of fast-casual restaurants with more than 160 locations in the U.S., will open its first Wisconsin location in the Mayfair Collection development in Wauwatosa. Neo Fourno Inc., a franchise partner of CBC Restaurant Corp. owned by local restaurateurs Dimitri Dimitropoulos and Peter Dimitropoulos, will operate the 4,000 square-foot location near the entrance to the project at Burleigh Street and 114th Street. “We couldn’t be more thrilled that Corner Bakery Cafe has chosen The Mayfair Collection as the place to introduce its brand to the state of Wisconsin,” said Tim Blum, executive vice president of retail development for Chicago-based HSA Commercial Real Estate, the developer for the Mayfair Collection project. “Though it took a little patience, we believe that we have found the best possible café and coffee shop for our customers and future residents to enjoy.” The first phase of the Mayfair Collection, located northeast of Burleigh and U.S. Highway 45, opened in April with a store lineup that includes Nordstrom Rack, Dick’s Sporting Goods, Saks Fifth Avenue OFF 5th and Ulta Beauty. HSA Commercial will break ground next month on the second phase of the project, which will include a Whole Foods Market grocery store and a 140-room Homewood Suites by Hilton hotel. Construction for the Corner Bakery Cafe at Mayfair Collection will begin within the next few weeks. It is expected to open later this year. Neo Fourno Inc. plans to open ten new Corner Bakery Cafes in Madison and Milwaukee over the next five years.