Saks Moving Into Once Obsolete Warehouses

MILWAUKEE—An aging set of warehouses that for years blighted the suburban town of Wauwatosa will soon be a destination for upscale shoppers. As reported in GlobeSt.com back in April, Chicago-based developer HSA Commercial Real Estate has started converting three of the 1960′s-era structures by connecting them with walkways, redoing the fronts, the roofs and updating all building systems, but preserving their industrial look.

And Timothy Blum, executive vice president and managing director of the Retail Division of HSA, says the firm has just finalized leases with Saks Fifth Avenue OFF 5TH, Old Navy and Carter’s. The project, which broke ground in April 2013, already has lease commitments with Nordstrom Rack, Dick’s Sporting Goods and Ulta Beauty. By next summer, HSA will have finished this first phase of the renovations, resulting in 270,000-square-feet of retail called The Mayfair Collection.