Last updated on May 15th, 2019 at 05:04 pm
The owners of Brookfield Square Mall are planning its seventh expansion in 10 years that will include 50,000 square feet of retail space and the shopping mall’s first parking structure.
The expansion will front the east and north side of Boston Store and will be completed in time for the holiday shopping season in 2017, said Dan Ertl, director of community development.
Chattanooga, Tenn.-based CBL & Associates Properties, Inc., which owns the mall, has not yet submitted plans to the city, but Ertl believes the tenants who will lease the additional space will likely sell clothing and soft goods.
CBL began expanding Brookfield Square in 2005, with the addition of Barnes & Noble bookstore. The city of Brookfield approved tax incremental financing for the project in 2004, allocating $450,000 for the demolition of a portion of Sears, which took place during phase six and committing $6.5 million for the parking structure.
Phase six and seven are expected to generate $3.7 million and $8.5 million in tax revenue, respectively.
The 20,000-square-foot phase six addition, which is currently being completed includes four restaurants: Jason’s Deli, Mooyah Burgers, Fries & Shakes and Blackfinn Ameripub. The fifth and final tenant of phase six has not yet been named.
“It’s fabulous that the mall owners have confidence is the retail market in the greater Brookfield area,” Ertl said. “They have spent millions on the interior and exterior of the mall and repositioned it to compete better with Mayfair and Southridge and we have gotten tremendous, mostly positive, feedback from the community.”
Tom Treder, a principal of Milwaukee-based Commercial Property Associates, said the owners of Brookfield Square have had to make continuous improvements to compete with Mayfair Mall and the new retail development on the Blue Mound Road corridor, including The Corners project.
“The restaurants and the newer retail they’ve built over the last 10 years has been successful,” Treder said. “It’s hard to beat the demographics and traffic Brookfield has. Brookfield Square is a well-positioned mall that should stand the test of time.”