By OnMilwaukee Staff Writers   Published Dec 17, 2014 at 5:06 PM

Effective today, Trocadero Gastrobar, 1758 N. Water St., has changed ownership, moving from the Lowlands Group portfolio to the ownership group of its newly opened neighbors, Red Lion Pub.

The new managing partners include JJ Kovacovich – a bar manager at Trocadero from 2005 to '07 – and Drew Deuster of Red Rock Saloon, McGillycuddy's and Red Lion Pub, as well as Christopher Tinker and David Price of Red Lion Pub and Three Lions Pub. Their hope is to turn the area – dubbed "Tannery Row" – into a new destination for food, drink and entertainment.

"The opportunity to carry on the tradition of Trocadero, to be ‘passed the torch’ in essence, is a great honor, and I’m looking forward to the next chapter for Trocadero," Kovacovich said. "Mike Eitel has been a mentor and colleague for years, and we’ve remained close since leaving Trocadero in 2007 to start my first business. The opportunity come back to Trocadero with Mike’s personal blessing means a lot to me."

Trocadero has been closed since Monday, but will reopen Thursday, Dec. 18 at 5 p.m., resuming the same business hours and the same menu as under the previous owners.

A new menu is expected to roll out in spring 2015. 

As for the Lowlands Group, the move away from Trocadero comes at the same time as an expansion, as the group announced plans to grow out two new locations, one in Madison at the newly redeveloped Hilldale Mall and the other in Mequon at Mequon and Green Bay Roads. 

"We are constantly looking for dynamic, evolving neighborhoods, and both Mequon and Madison are natural choices for our next phase of development," said Lowlands CEO Eric Wagner.