Extensive Improvements Planned For Colonial Plaza

The Salvation Army Store in Menomonee Falls could be on the move.

In fact, the Colonial Plaza on Appleton Avenue could look a whole lot different by the end of 2013.

Somerstone, LLC is under contract to purchase Colonial Plaza, and the company has a two-phase plan to redevelop the retail center, starting with the northern portion that includes the Salvation Army. According to an application with the village, Somerstone plans to invest $1 million into improvements, and hopes to complete the project within six months.

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Relocating the Salvation Army store into a smaller space within the strip mall would be the first significant change. The Salvation Army would move next door to a smaller 12,000-sqaure-foot space, and an unidentified 24-hour fitness center would occupy the 18,000-square-foot space left over.

Somerstone has yet to submit site plans and elevations to the village, but the company intends to upgrade facades, upgrade signage, improve landscaping, and upgrade building infrastructure. Somerstone will appear before the Plan Commission May 7 seeking approval of a use permit allowing a fitness center, which requires a public hearing.

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One local business owner has filed an email with the village opposing the fitness center. Brad Posnanski, of Bradley Realty, is concerned that the village may already ready be too saturated with fitness centers. Posnanski is a member of Elite Fitness, but also cited the construction of the Wisconsin Athletic Club, and the existing United Fitness Center, Tri-County YMCA, and Snap Fitness as other clubs filling the market need.

“I do not want to stop or prolong the wheels progress regarding Colonial Plaza…(it does) not seem to be in alignment with the bigger/grand plan for the village as a whole,” Posnanski wrote. “This area has a fair amount of fitness clubs…I believe it will not be that successful of an environment.”

The second phase of Somerstone’s plans are a bit vague at this point as the company is still planning its course of action. However, the company plans to drastically improve the remaining 26,000-square-feet of retail space, and re-tenant the space within 18 to 36 months.

Somerstone is a Milwaukee-based real estate development, investment, and brokerage firm. The firm, lead by three real estate professionals, owns commercial real estate throughout the Midwest.