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1825 W. St. Paul Ave., photo by Wisconsin Historical Society[/caption]
Milwaukee-based BBC Lighting
has purchased a 41,990-square-foot
industrial building in the emerging home decor and design district in Milwaukee's Menomonee Valley.
The building at 1825 W. Saint Paul Ave. is part of the historic Hoffman Manufacturing complex, located about two blocks east of BBC's retail lighting showroom at 2015 W. Saint Paul Ave.
1825 W. Saint Paul LLC, a
n affiliate of BBC Lighting bought the building for $1.4 million from Milwaukee-based LCM Funds 30 St Paul LLC, according to Milwaukee-based real estate firm Founders 3.
BBC Lighting owner Hank Albert, who founded the company in 1972, intends to lease part of the building to a retailer that would "benefit the area," he said. The company had previously leased 10,000 square feet of space for storage, and will continue to do so.
Albert plans to secure a tenant within the upcoming year, he said.
He said breweries and other food and beverage manufacturers had shown interest in the space, but he plans to add another retail tenant to the St. Paul Avenue Design District, which is home to several other home decor stores including Brass Light Gallery, Guardian Fine Art Services, House of Stone, ProStar Surfaces, Riverview Antique Market and Bachman Furniture.
Milwaukee-based Bachman Furniture recently closed its longtime Capitol Drive store and will open its new store
early next year in a portion of the former American Radiator Company at 1741 W. St. Paul Avenue.
"20th (Street) and St. Paul (Avenue) is growing into a pretty interesting spot for people to come and shop," Albert said. "The area brings so much traffic to that spot that it would benefit anybody that comes,"
BBC's new building is one of 22 industrial buildings between 11th and 21st streets that are part of the St. Paul Avenue Industrial Historic District. The district, which was added to state’s register of historic places last year by the Wisconsin Historical Society, has been a recent development focus of Menomonee Valley Partners and the city of Milwaukee.