Milwaukee Journal Sentinel
Walker’s Point building sold to mall’s redevelopers
A Walker’s Point building anchored by a vacant restaurant space has been sold to investors who are redeveloping the former Grand Avenue mall.
The four-story, 7,000-square-foot building, 235-237 S. Second St., was sold for $509,000 to 235 S. 2nd Street LLC, a Minneapolis investors group, according to state real estate records posted Friday.
The property’s new owner is led by Josh Krsnak, president of Minneapolisbased Hempel Cos., and Tony Janowiec, president of Milwaukee-based Interstate Development Partners LLC.
“We don’t have any definite plans yet, but we love the neighborhood,” Krsnak said about the building.
“As you may recall, when we bought the Grand Avenue mall we didn’t have a defined plan either,” Krsnak said.
“But that ultimately progressed into something very exciting and impactful. We expect to continue that philosophy with this smaller property,” he said.
The former mall is being converted into The Avenue, which includes Plankinton Clover Apartments, offices anchored by Graef USA Inc. and the upcoming 3rd Street Market food hall.
The Walker’s Point building, constructed in 1890, has street-level commercial space and upper-floor apartments, according to city assessment records. It was sold by Mequon-based Spooner Art Development Corp., which lists Michael J. Spooner as its agent.
The building’s restaurant space is vacant. It was last used by Likkle Jamayka, a Caribbean restaurant.
Nearby developments include two apartment buildings opening this spring: The Yards, a five-story, 87-unit building at 223 W. Oregon St., and Timber Lofts, a five-story, 60-unit building at 300 W. Florida St.
Meanwhile, the building anchored by The Diplomat restaurant, 815-821 E. Brady St., has been sold to an investment group led by that restaurant’s chef owner.
That three-story, 3,600-square-foot building was sold to Make A Fort LLC, led by Dane Baldwin, for $1.3 million, according to state real estate records.
Baldwin in 2017 opened The Diplomat at the building, which includes upper-level apartments.
The property was sold by 817 East Brady Street LLC, led by developer Joshua Jeffers.