North Wells Capital Receives $26.6M Loan for Ongoing Redevelopment of Former Bon-Ton Headquarters in Milwaukee

by Kristin Harlow

MILWAUKEE — North Wells Capital LLC has received a $26.6 million loan for the ongoing renovation and redevelopment of the former Bon-Ton headquarters in Milwaukee. Meridian Capital Group arranged the loan with A10 Capital. North Wells acquired the 429,000-square-foot property in May 2017 and renamed it HUB640 after its address at 640 N. 4th St. North Wells is gutting and renovating the building to provide offices for multiple companies, and is marketing the first floor to new retailers. The $26.6 million loan provides long-term financing for the company’s purchase of the property and secures money to build out interior spaces for future tenants. The 120-year-old building served as the corporate headquarters for The Bon-Ton Stores, and as the flagship site of one of its retail brands, The Boston Store, since completion. Bon-Ton filed for bankruptcy in 2018 and was sold and liquidated.

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