Milwaukee-based Roundy's Supermarkets Inc. plans to move its Pick 'n Save store at 7830 W. Good Hope Road, Milwaukee, to the former Home Depot building at 7401 W. Good Hope Road.
"All I will say … is that we have signed a lease for this project, yet there is still much work to be done," said Roundy's spokeswoman Vivian King.
The move will shift the Pick 'n Save store from a 62,764-square-foot building northwest of Good Hope Road and North 76th Street to a 102,000-square-foot building southeast of Good Hope and 76th.
The Home Depot store closed last summer when the Atlanta-based home improvement store chain closed 15 under-performing stores in the United States.
Milwaukee-based development firm Boulder Venture LLC is buying the building and the 10.8-acre site from Home Depot and will lease the space to Roundy's. Jon Thoresen of Commercial Property Associates Inc. represented Home Depot in brokering the sale of the building.
"We had multiple offers," Thoresen said. Thoresen and Boulder Venture managing partner Robert Schmidt III declined to disclose the sale price for the property, but its assessed value is $8.549 million, according to city records.
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