What does Milwaukee bring to mind? Beer? Cheese? TV\u2019s \u201cHappy Days\u201d? Perhaps the city chosen as the site for the 2020 Democratic National Convention?<\/p>\n
Yes, that\u2019s us \u2014 being recognized and happy about it. But since I began penning this piece in March, we\u2019ve experienced a world of change in the realities of group gatherings: We can hardly have 10 people in a group now, let alone thousands of delegates filling our new Fiserv Forum. It\u2019s anybody\u2019s guess how long the multi-trillion-dollar brick-and-mortar retail industry will be effectively shuttered and how the industry will have changed when it\u2019s over.<\/p>\n
So without a crystal ball, I\u2019m sharing Milwaukee\u2019s story of how our retail developments have kept relevant for our consumers, while hoping for the best possible outcome once we\u2019re on the other side of this coronavirus pandemic.<\/p>\n
![\"\"](\"https:\/\/shoppingcenterbusiness.com\/wp-content\/uploads\/2020\/06\/ray.jpg\")
<\/p>\n
Ray Balfanz, \u201cA great place on a great lake\u201d<\/span>\u00a0our tourism slogan once proclaimed \u2014 and indeed it is. Milwaukee is a largely undiscovered gem with excellent quality of life and endless spots at which to spend your hard-earned cash: a prolific culinary scene, first-rate arts offerings and vibrant retail.<\/p>\n From the reimagined Drexel Town Square, to redeveloped Bayshore, to the revitalized Historic Third Ward, Milwaukee is replete with refreshed shopping options.<\/p>\n Mall changes<\/strong><\/p>\n The changes to the iconic American mall, especially as online shopping continues to alter consumer habits, are evidence of the need to stay relevant. Malls here have undergone numerous makeovers.<\/p>\n The oldest,\u00a0Mayfair Mall<\/span>, opened in 1958 with 70 stores and an ice rink \u2014 definitely \u201cHappy Days.\u201d Though Marshall Field\u2019s and Boston Store departed, Macy\u2019s has remained viable, and Mayfair boasts the highest sales of any Wisconsin mall and the state\u2019s only Nordstrom, Crate & Barrel and The Container Store.<\/p>\n The tale of two suburban malls,\u00a0Southridge<\/span>\u00a0and\u00a0Northridge<\/span>, both dating to 1970, illustrates two divergent paths. While Northridge began its downward spiral a decade after opening due to a cancelled freeway, recession and an increase in neighborhood crime, Southridge has continued to reinvent itself. When three anchors vacated, Dick\u2019s Sporting Goods and Golf Galaxy opened. With a Macy\u2019s, J.C. Penney and T.J.Maxx, Southridge has introduced entertainment: arcade, ping pong, pool, a dining cinema and The Explorium, a microbrew pub.<\/p>\n Similarly,\u00a0Brookfield Square<\/span>\u00a0has implemented new-to-market \u201ceatertainment\u201d concepts: Chicago-based WhirlyBall\u2019s 45,000-square-foot complex, bowling, laser tag, event space, dining and Wisconsin\u2019s first \u201cmovie tavern,\u201d a new concept from Milwaukee-based Marcus Corp.<\/p>\n The award for Milwaukee\u2019s \u201cmost tumultuous retail property\u201d goes to\u00a0Grand Avenue\u00a0<\/span>downtown. Opened to great fanfare in 1982, retail was solid for two decades, but the suburbanite preference for easier-access shopping caused a traffic downturn. The Grand Avenue began hemorrhaging tenants and lost anchors Marshall Field\u2019s and Boston Store. It\u2019s now been bought and sold, foreclosed upon and auctioned. A local ownership group recently acquired it for $24.6 million, renaming it \u201cThe Avenue.\u201d The mixed-use HUB 640 will fill the former Boston Store\/BonTon headquarters with retail, office, healthcare and loft apartments.<\/p>\n Originally an enclosed mall,\u00a0<\/span>Bayshore<\/span>\u00a0was transformed 10 years ago into a \u201cmain street\u201d concept. The year 2018 brought a $75 million redevelopment, replacing some retail space with offices, hotel, senior living, medical and apartments. The project is backed by city of Glendale public funding.<\/span><\/p>\n Rise of town squares<\/strong><\/p>\n Responding to market demands is often easier for properties being built from the ground up. Construction began on\u00a0Drexel Town Square\u2019s\u00a0<\/span>85-acre infill site in 2014, overcoming funding, resources and community support challenges. Built for community events and walkability, the town square is anchored by the Oak Creek City Hall, library and a Meijer store, and has outperformed expectations. Retail and service tenants branching off the square include U.S. Bank, Chick-fil-A and local favorites Pizza Man and Water Street Brewery, plus luxury apartments, hotel, senior living and a healthcare center.<\/p>\n Park, walk, commence shopping: that\u2019s the drill at the successful\u00a0<\/span>Mayfair Collection<\/span>\u00a0\u2014 500,000 square feet of retail anchored by Whole Foods, Nordstrom Rack, DSW and HomeGoods, as well as restaurants and apartments. Similar is the public\/private partnership at the open air\u00a0<\/span>84 South<\/span>. Stores like Kohl\u2019s, Total Wine, T.J.Maxx and Steinhafels furniture are flanked by apartments, medical and lodging.<\/span><\/p>\n We\u2019ll end the tale of Milwaukee retail to date with a story of the old becoming new again: the\u00a0Historic Third Ward<\/span>\u00a0renaissance. Adjacent to downtown Milwaukee and the lakefront Summerfest grounds (the site of the world\u2019s largest music festival and many ethnic festivals), this roughly one-square-mile neighborhood of vintage red-brick buildings and new construction boasts 450 businesses, including many retail spots.<\/p>\n Known a century ago as the \u201cBloody Third\u201d for frequent fist fights among Irish and Italian immigrants, it\u2019s now arguably Milwaukee\u2019s most exciting shopping locale, with aesthetic appeal enhancing myriad retail options. Art galleries, outdoor dining at locally owned gems like Bavette, DanDan and Benelux, along with names like Lululemon and Anthropologie attract millennials and Gen Xers, as well as Third Ward lawyers, artists and tech specialists.<\/p>\n What draws customers in Milwaukee is like anywhere else today: we expect our shopping experience to be part of a fulfilling lifestyle experience.<\/p>\n Welcome to Milwaukee, where customer-responsive retail, lifestyle choices and optimism for a bright future abound.<\/p>\n Ray Balfanz, CPM\u00ae, ARM\u00ae is president and principal of Outlook Management Group, LLC, AMO\u00ae. This article originally appeared in the May 2020 issue of <\/em>Heartland Real Estate Business<\/a>\u00a0magazine, a sister publication of\u00a0<\/em>Shopping Center Business.<\/em><\/p>\n<\/div> What does Milwaukee bring to mind? Beer? Cheese? TV\u2019s \u201cHappy Days\u201d? Perhaps the city chosen as the site for the 2020 Democratic National Convention?<\/p>\n Yes, that\u2019s us \u2014 being recognized and happy about it. But since I began penning this piece in March, we\u2019ve experienced a world of change in the realities of group gatherings: We can hardly have 10 people in a group now, let alone thousands of delegates filling our new Fiserv Forum. It\u2019s anybody\u2019s guess how long the multi-trillion-dollar brick-and-mortar retail industry will be effectively shuttered and how the industry will have changed when it\u2019s over.<\/p>\n So without a crystal ball, I\u2019m sharing Milwaukee\u2019s story of how our retail developments have kept relevant for our consumers, while hoping for the best possible outcome once we\u2019re on the other side of this coronavirus pandemic.<\/p>\n Ray Balfanz, \u201cA great place on a great lake\u201d<\/span>\u00a0our tourism slogan once proclaimed \u2014 and indeed it is. Milwaukee is a largely undiscovered gem with excellent quality of life and endless spots at which to spend your hard-earned cash: a prolific culinary scene, first-rate arts offerings and vibrant retail.<\/p>\n From the reimagined Drexel Town Square, to redeveloped Bayshore, to the revitalized Historic Third Ward, Milwaukee is replete with refreshed shopping options.<\/p>\n Mall changes<\/strong><\/p>\n The changes to the iconic American mall, especially as online shopping continues to alter consumer habits, are evidence of the need to stay relevant. Malls here have undergone numerous makeovers.<\/p>\n The oldest,\u00a0Mayfair Mall<\/span>, opened in 1958 with 70 stores and an ice rink \u2014 definitely \u201cHappy Days.\u201d Though Marshall Field\u2019s and Boston Store departed, Macy\u2019s has remained viable, and Mayfair boasts the highest sales of any Wisconsin mall and the state\u2019s only Nordstrom, Crate & Barrel and The Container Store.<\/p>\n The tale of two suburban malls,\u00a0Southridge<\/span>\u00a0and\u00a0Northridge<\/span>, both dating to 1970, illustrates two divergent paths. While Northridge began its downward spiral a decade after opening due to a cancelled freeway, recession and an increase in neighborhood crime, Southridge has continued to reinvent itself. When three anchors vacated, Dick\u2019s Sporting Goods and Golf Galaxy opened. With a Macy\u2019s, J.C. Penney and T.J.Maxx, Southridge has introduced entertainment: arcade, ping pong, pool, a dining cinema and The Explorium, a microbrew pub.<\/p>\n Similarly,\u00a0Brookfield Square<\/span>\u00a0has implemented new-to-market \u201ceatertainment\u201d concepts: Chicago-based WhirlyBall\u2019s 45,000-square-foot complex, bowling, laser tag, event space, dining and Wisconsin\u2019s first \u201cmovie tavern,\u201d a new concept from Milwaukee-based Marcus Corp.<\/p>\n The award for Milwaukee\u2019s \u201cmost tumultuous retail property\u201d goes to\u00a0Grand Avenue\u00a0<\/span>downtown. Opened to great fanfare in 1982, retail was solid for two decades, but the suburbanite preference for easier-access shopping caused a traffic downturn. The Grand Avenue began hemorrhaging tenants and lost anchors Marshall Field\u2019s and Boston Store. It\u2019s now been bought and sold, foreclosed upon and auctioned. A local ownership group recently acquired it for $24.6 million, renaming it \u201cThe Avenue.\u201d The mixed-use HUB 640 will fill the former Boston Store\/BonTon headquarters with retail, office, healthcare and loft apartments.<\/p>\n Originally an enclosed mall,\u00a0<\/span>Bayshore<\/span>\u00a0was transformed 10 years ago into a \u201cmain street\u201d concept. The year 2018 brought a $75 million redevelopment, replacing some retail space with offices, hotel, senior living, medical and apartments. The project is backed by city of Glendale public funding.<\/span><\/p>\n Rise of town squares<\/strong><\/p>\n Responding to market demands is often easier for properties being built from the ground up. Construction began on\u00a0Drexel Town Square\u2019s\u00a0<\/span>85-acre infill site in 2014, overcoming funding, resources and community support challenges. Built for community events and walkability, the town square is anchored by the Oak Creek City Hall, library and a Meijer store, and has outperformed expectations. Retail and service tenants branching off the square include U.S. Bank, Chick-fil-A and local favorites Pizza Man and Water Street Brewery, plus luxury apartments, hotel, senior living and a healthcare center.<\/p>\n Park, walk, commence shopping: that\u2019s the drill at the successful\u00a0<\/span>Mayfair Collection<\/span>\u00a0\u2014 500,000 square feet of retail anchored by Whole Foods, Nordstrom Rack, DSW and HomeGoods, as well as restaurants and apartments. Similar is the public\/private partnership at the open air\u00a0<\/span>84 South<\/span>. Stores like Kohl\u2019s, Total Wine, T.J.Maxx and Steinhafels furniture are flanked by apartments, medical and lodging.<\/span><\/p>\n We\u2019ll end the tale of Milwaukee retail to date with a story of the old becoming new again: the\u00a0Historic Third Ward<\/span>\u00a0renaissance. Adjacent to downtown Milwaukee and the lakefront Summerfest grounds (the site of the world\u2019s largest music festival and many ethnic festivals), this roughly one-square-mile neighborhood of vintage red-brick buildings and new construction boasts 450 businesses, including many retail spots.<\/p>\n Known a century ago as the \u201cBloody Third\u201d for frequent fist fights among Irish and Italian immigrants, it\u2019s now arguably Milwaukee\u2019s most exciting shopping locale, with aesthetic appeal enhancing myriad retail options. Art galleries, outdoor dining at locally owned gems like Bavette, DanDan and Benelux, along with names like Lululemon and Anthropologie attract millennials and Gen Xers, as well as Third Ward lawyers, artists and tech specialists.<\/p>\n What draws customers in Milwaukee is like anywhere else today: we expect our shopping experience to be part of a fulfilling lifestyle experience.<\/p>\n Welcome to Milwaukee, where customer-responsive retail, lifestyle choices and optimism for a bright future abound.<\/p>\n Ray Balfanz, CPM\u00ae, ARM\u00ae is president and principal of Outlook Management Group, LLC, AMO\u00ae. This article originally appeared in the May 2020 issue of <\/em>Heartland Real Estate Business<\/a>\u00a0magazine, a sister publication of\u00a0<\/em>Shopping Center Business.<\/em><\/p>\n<\/div>
\nOutlook Management Group__<\/span><\/p>\n<\/div>\n![](\"https:\/\/brewcitygraphics.com\/Outlook\/wp-content\/uploads\/2020\/06\/third-ward-milwaukee-300x225.jpg\")
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\nOutlook Management__<\/span>
\nGroup<\/p>\n<\/div>\n<\/span><\/div><\/span>