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HSA and ICA Buy Plaza 173

BROOKFIELD, WI—The partners believe it's time to revive a suburban mall that had been hit hard by the recession.

By Brian J. Rogal | Updated on June 05, 2013

BROOKFIELD, WI—Plaza 173 in Brookfield has had a few rough years. The former owners of the suburban shopping mall saw several of their largest tenants, including Blockbuster and Comp USA, go under and declare bankruptcy. A foreclosure lawsuit on the center by Wells Fargo followed, and according to The Business Journal, the 10-acre property was recently sold in a sheriff’s auction for $4.8 million.

Chicago-based HSA Commercial Real Estate and commercial mortgage lender Innovative Capital Advisors formed a joint real estate fund that purchased the 92,000-square-foot power center located at the northwest corner of Bluemound Rd. and Calhoun Rd. And the new owners say it’s time to restore this property to health.

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