Downtown Boston Store, Bon-Ton HQ building to be rebranded HUB640

The 120-year-old Milwaukee building home to the corporate offices of The Bon-Ton Stores Inc. and its longtime Boston Store will be renovated and rebranded as HUB640 once the wind-down of the retailer is complete.

The building's owner, North Wells Capital, an investment management affiliate of Urban Innovations Ltd. of Chicago, announced the new name on Thursday. As the Milwaukee Business Journal previously reported, the real estate firm had a contingency plan on the back burner in the event that Bon-Ton — which filed for bankruptcy in February and is currently winding down its operations — would not be able to keep its operations running.

Going-out-of-business sales are currently being conducted at Bon-Ton's more than 200 department stores across the country.

“The Boston Store and The Bon-Ton Stores were an important part of Milwaukee’s business community for more than a century. They will definitely be missed,” said Tony Lindsay, principal at North Wells Capital.  “However, we now look to the future. Despite this sad turn of events, we believe Westown has a very bright future, and HUB640 is at the center of it all.”

According to a release, the moniker HUB640 is derived from the building’s new office address, which has been changed to 640 N. Fourth St. from 331 W. Wisconsin Ave. North Wells Capital will move ahead with renovations on the 429,000-square-foot building's office space and first-floor retail space. The company is seeking both office users and retail tenants.

North Wells Capital has already started construction on a new office entrance and lobby at 640 N. Fourth St. Available space for lease includes a 66,000-square-foot retail space on the first floor — which can be extended to the upper levels — as well as 58,000-square-foot floor plates for office tenants on the building's second through fifth floors. Those floors are currently under renovation to create a space that's "more open, interactive and engaging," according to the release.

“We all know that change can be hard, but we are also very excited by the tremendous opportunity for new retailers and office users to join this dynamic and rapidly changing part of the Milwaukee market," Lindsay said.

North Wells Capital purchased the Boston Store building in 2017.

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