Wangard Partners has purchased a four-story building in Milwaukee’s Walker’s Point neighborhood, with plans to convert the space into office and retail use.
The 80,000-square-foot building at 507 S. Second St. was sold by Roadster Inc., which is led by Christopher Coakley, owner of C. Coakley Co., to 507 South 2nd Street Development LLC, led by Stewart Wangard, chairman and chief executive officer of Wangard Partners Inc., for $3.5 million, according to state real estate records.
Representatives from Wangard’s office could not be reached for comment.
According to Wangard’s website, the building was formerly the Eagle Knitting Mills, built in 1928.
Wangard is planning to renovate the space into 80,000 square feet of “historic modern office,” or 60,000 square feet of office with 20,000 square feet of ground-level retail.
Wangard already has a significant presence in Walker’s Point with his Freshwater Plaza development.
Freshwater Plaza is a mixed-use development at the northeast corner of North First Street and East Greenfield Avenue. It includes a 46,280-square-foot Cermak Fresh Market grocery store, a four-story L-shaped building on the corner with 16,645 square feet of retail space, and apartments on the upper floors and in the outlot buildings.