Ace Hardware sold to Phelan Development for $2.5 million

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The home of downtown Milwaukee’s National Ace Hardware, which is closing, was sold for $2.5 million to a group affiliated with Phelan Development.

The 88,000-square-foot, three-story building, 1303 N. 4th St., which includes a 1.2-acre lot, was sold to Hardware HQ LLC, according to state real estate records posted Monday. The sale was brokered by Kurt Van Dyke and James T. Barry III, of DTZ Barry.
Hardware’s registered agent, Milwaukee developer Sean Phelan, couldn’t be immediately reached for comment.

Ace Hardware has started a liquidation sale, and plans to close this fall.

http://www.jsonline.com/blogs/business/314557511.html