A subsidiary of Panda Restaurant Group purchased the former Weissgerber’s Gasthaus restaurant in Waukesha for $1.58 million and is planning to build a strip mall in its place.
CFT Developments LLC., which is registered to Rosemead, Calif.-based Panda Restaurant Group, owner of Panda Express Restaurant, purchased the property at 2720 N. Grandview Blvd., from Silvernail Restaurant Partners, LLP. The property has been in the Weissgerber family for decades.
It is assessed by Waukesha County at $835,000.
In April, Hans Weissgerber Jr., owner of the Gasthaus Restaurant, said owning and managing the property had become extremely difficult since his brother, Jack, who was his business partner, died in 2013.
The iconic restaurant closed June 25 after 33 years in operation.
Panda Restaurant Group is planning a 9,800-square-foot multi-tenant retail and restaurant building at 2720 N. Grandview Blvd. with three small restaurant spaces and three small retail spaces. Plans also include a stand-alone Panda Express building.
