The Business Journal reports Bill Penzey has reached a deal with We Energies, which has launched a foreclosure case against Northridge’s owner, to buy out We Energies’ interest. Penzey will now take the lead in the foreclosure case and hopes to acquire ownership of the property.
Penzeys moved into the former Falk Corp. plant in Wauwatosa in 2005. The company has opened several new retail stores across the country in recent years and maintains a strong catalog business.
The former Northridge Mall has sat vacant since the mall closed in 2003.