The Corners of Brookfield to break ground spring 2015; Von Maur will anchor

Milwaukee -- Contracts are finalized and on-site work will soon begin on The Corners of Brookfield, a new 750,000-sq.-ft. premier lifestyle center that will be located on approximately 19 acres of land bounded by West Bluemound Road, North Barker Road and I-94 near Milwaukee.



The final development agreement has been signed with the Town of Brookfield, demolition of the vacant Menards building on The Corners project site will begin in the coming weeks and a formal groundbreaking is planned for spring 2015.



The $200 million project is anticipated to open fall 2016, serving as a destination for luxury shopping, dining, entertainment and living experiences. Plans call for 400,000 sq. ft. of retail and restaurant space, anchored by a 140,000-sq.-ft. Von Maur department store, along with 235 luxury apartments. Tenants will include a mix of men’s, women’s, and children’s fashion and accessories, home goods, grocery and specialty retailers.



“We are excited to be opening our first Wisconsin store at such a top-tier, upscale location like The Corners,” said Jim von Maur, president of Von Maur Department Stores.



The Marcus Corporation, which initiated the development of The Corners, also announced that it has entered into a joint venture agreement with IM Properties and Bradford Real Estate to serve as the new project management team. IM Properties and Bradford will serve as the managing member in the joint venture and The Marcus Corporation will remain as a partner in the joint venture.



Design architect DDG is finalizing the plans for The Corners, with a general contractor expected to be named later this spring. CBRE/UCR has been retained to manage retail leasing for the upscale development. Initial financing for the development has been secured through a previously announced agreement with the Town of Brookfield, with the remainder coming from a mix of balance sheet equity from IM Properties, land from The Marcus Corporation and future construction loan commitments that are in the process of being negotiated.