Hilldale shopping center has a new owner.
WS Development, of Chestnut Hill, Mass., took control of the upscale, West Side shopping center on Monday after Dane County Circuit Judge John Albert confirmed the purchase for $52 million.
WS Development was the only bidder at a sheriff's sale on the property May 15 and no one came forward to oppose the transaction Monday.
That ends the involvement of Joseph Freed & Associates, the Chicago developer that bought Hilldale in 2004, added housing, a row of boutique shops and restaurants, and the nation's first Sundance Cinema but later, couldn't pay its bills.
The shopping center's current Madison management staff will stay on, said WS Development partner Dick Marks.
"It's a strong center. There's a little bit of vacancy we want to fill, but it's pretty well occupied," he said.
Marks said there are no big changes in the works right now, but WS Development already has been working on some potential retail additions.
"We will add to the apparel mix, and where we can, to the restaurant mix. But there's not one name right now that we can announce," he said.
The land and buildings that encompass Hilldale, at University Avenue and Midvale Boulevard, are assessed at $42.1 million, according to the city assessor's office.