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Mount Clemens receives state funding to overhaul Cherry Street Mall

Posted By: Macomb Daily on September 24, 2022.  For more information, please click here to read the source article.   A key stretch of downtown Mount Clemens is in line for a major overhaul that officials say will enhance its appearance, eliminate structural obstacles for area shops, and improve the overall business environment. Earlier this month, the city […]

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Fairlane Town Center in Dearborn Adding Eight Retailers in 2022

Posted By: dbusiness on August 25, 2022.  For more information, please click here to read the source article.   Fairlane Town Center, a three-level super-regional shopping center in Dearborn, announced eight new tenants already opened or coming this year including Toys”R”Us, The Coloring Station, Express Yourself, Prissy Paw Palace, Incredible Burger, The Ukiyo Store, Ballzy Balls, and Fix […]

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Former Sears at Macomb Mall Hits the Market for Sale

For sale information on the former Sears, contact Steve Gordon. Posted By: CoStar on June 30, 2022.  For more information, please click here to read the source article.  For listing information, click here. Seritage Taps Signature Associates To Handle Sale of Property Currently Anchored By At Home and Hobby Lobby Seritage Growth Properties has put the […]

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Eastland Center ‘transformation’ advances as construction starts on industrial development

For leasing information on Eastland Commerce Center, contact Joe Hamway/Greg Hudas. Posted By: The Detroit News on July 7, 2022.  For more information, please click here to read the source article.   Sixty-five years after Eastland Center opened its doors to shoppers, the developer of a $94 million industrial complex broke ground on the project that will replace […]

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Fairlane Town Center’s new owner to redevelop Dearborn mall with mixed-use destinations

The new owner of Fairlane Town Center says it will redevelop the Dearborn mall for mixed use-destinations after its previous owner defaulted on loans. Centennial, a Dallas-based real estate investment firm focused on retail and mixed-use properties, on Wednesday said it has acquired the struggling 1.4 million-square-foot shopping center from Florida’s Starwood Capital Group. Details of […]

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Retail in metro Detroit isn’t dead. It’s just adapting.

These days, consumers actually have more places to shop, not fewer. Contrary to the common refrain about the death of retail, there has been an increase of nearly 11 percent in the amount of retail space in the five-county area the last 16 years. Large, but aged and dying, shopping centers like Summit Place Mall […]

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Oakland Mall may join Fairlane Town Center as second mall selling this month

A new owner is nearing a purchase of Oakland Mall, Crain’s has learned. Mario Kiezi, a real estate investor and developer based in Troy, confirmed that he has the mall under contract for purchase for an undisclosed price. Letters have been sent to the mall’s tenants informing them of the pending ownership change. Kiezi declined […]

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Fairlane Town Center expected to be sold next month

The Fairlane Town Center shopping mall in Dearborn is about to be sold, according to a New York City-based company that tracks commercial real estate loans . Commercial mortgage-backed securities loan commentary provided Wednesday afternoon by New York City-based Trepp LLC says the sale of both Fairlane, located at 18900 Michigan Ave., as well as the Shops […]

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Malls ditch shopping to fill wasteland of vacant retail stores

Imagine 16 deserted Mall of Americas. That’s how much space battered mall owners need to fill heading into 2022, more than 90 million square feet. It’s no easy task, with dozens of retail chains already cutting back or shutting down, and it won’t get any better if the newest pandemic wave scares off shoppers. So […]

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Partridge Creek, Fairlane malls under new management in receivership

Two troubled metro Detroit malls have come under new management and one of them recently went into receivership amid financial woes. The Mall at Partridge Creek in Clinton Township and Fairlane Town Center in Dearborn are now being managed and marketed for lease by Syracuse, N.Y.-based Spinoso Real Estate Group LLC. Partridge Creek also has come under the […]

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Key retail property across from Oakland Mall sells for $34 million

Amid a global pandemic that has shaken the brick-and-mortar retail industry even more, a Baltimore buyer is betting $34 million on the success of a key property across from Oakland Mall in Troy. Continental Realty Corp., a private equity fund, has purchased Oakland Center and Oakland Square at 14 Mile and John R roads totaling some 392,000 […]

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Shunned by shoppers and squeezed by online retail, iconic Detroit malls to get new lives

Eastland Center and Northland Center malls opened in the 1950s to the fanfare of Metro Detroiters looking for a suburban shopping experience. Decades and the internet later, both sites face different futures. Eastland on Vernier Road in Harper Woods will close in January, and an industrial facility will be built in its place. The former […]

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At age 50, Franklin Park Mall tries to swim against the retail current

What kind of birthday gift do you buy for a shopping mall? In the case of Franklin Park Mall, which reaches 50 years old July 22, the answer is probably a dozen or so new tenants to help put it on the path toward another half-century. But Toledo’s premier shopping venue didn’t survive this long […]

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Mall at Partridge Creek faces reckoning amid pandemic, debt

Mall at Partridge Creek faces reckoning amid pandemic, debt

The Mall at Partridge Creek faces a challenging year that could lead to foreclosure, a predicament experts attribute most directly to the booming growth in online shopping spurred by the 10-month-long COVID-19 pandemic. Starwood Capital Partners, the owner of the luxury outdoor mall in Macomb County, hasn’t made an interest payment on its loan in six months. And […]

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Southfield City Council to discuss sale of vacant Northland mall for $11M

Southfield City Council to discuss sale of vacant Northland mall for $11M

The Southfield City Council is expected Monday to discuss a proposal for the sale of the former Northland Center for $11 million to a Bloomfield Hills company that plans to redevelop it into apartments, restaurants and retail space. The sale to Contour Companies of Bloomfield Hills is expected to be finalized in January and construction is […]

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Most U.S. Shoppers Say They Won’t Set Foot in a Mall This Year

Most U.S. Shoppers Say They Won’t Set Foot in a Mall This Year

For most Americans, this holiday shopping season won’t include one longtime staple: the mall. Just 45% of U.S. consumers plan to go to a shopping mall this season, down from 64% who visited last November and December, according to an International Council of Shopping Centers survey released Friday. The forecast is a fresh blow to American malls […]

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Franklin Park Mall to get new operator

Franklin Park Mall to get new operator

Toledo’s premier retail center, Franklin Park Mall, may be about to get a new operator. The previous mall owner-operator, Starwood Capital Group, of Chicago, was pushed out three months ago after one of its subsidiaries, Starwood West Limited, defaulted on $254 million worth of bonds used to buy Franklin Park and six other malls in […]

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Simon Property Group Seeks to Terminate Acquisition of Taubman Centers Inc. in Bloomfield Hills

Simon Property Group Seeks to Terminate Acquisition of Taubman Centers Inc. in Bloomfield Hills

Simon Property Group Inc., one of the nation’s largest retail center owners, today announced it exercised its contractual rights in an attempt to terminate its Feb. 9, 2020 planned merger agreement with Taubman Centers Inc. in Bloomfield Hills. Simon also filed an action today in the Circuit Court for the 6th Judicial Circuit of Oakland County […]

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Some metro Detroit malls to reopen this week — with changes

Some metro Detroit malls to reopen this week — with changes

Three of the region’s most high-profile regional shopping centers are due to reopen later this week following a complete shutdown since the end of March. The owners of Great Lakes Crossing Outlets in Auburn Hills, Twelve Oaks Mall in Novi and Somerset Collection in Troy say patrons can shop there once again beginning Thursday and […]

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Mall at Partridge Creek owner in default on $725 million mortgage

Mall at Partridge Creek owner in default on $725 million mortgage

The owner of The Mall at Partridge Creek in Clinton Township is in default on its mortgage. The November default on a balloon payment on a $725 million debt that is also secured by three other malls in Florida, Virgina and North Carolina makes it the latest metro Detroit shopping center to enter into choppy […]

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Simon’s $3.6B Taubman Buy a Positive Sign for Class A Malls

Simon’s $3.6B Taubman Buy a Positive Sign for Class A Malls

Simon Property Group Inc.’s pending acquisition of an 80 percent interest in Taubman Centers Inc.’s The Taubman Realty Group LP will give Simon majority ownership of some of the highest quality malls in the U.S. And the $3.6 billion price tag on the 25 million-square-foot portfolio serves as a vote of confidence in the future of premier […]

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Mall adding four stores

Mall adding four stores

Coming off of a storm of activity in 2019, Woodland Mall announced its latest lineup of new and first-to-market retailers for 2020. Champs Sports, a major North American specialty sports retailer, will be the first of four stores to open at the mall, followed by Aéropostale, Sephora and White House Black Market. These new retailers […]

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Woodland Mall shows off $100M renovation, new Von Maur department store

Woodland Mall shows off $100M renovation, new Von Maur department store

Shoppers at Woodland Mall have plenty new to see these days. Two years after workers demolished the former Sears store that once anchored the mall, Woodland officials on Thursday showed off a $100 million renovation project that replaces the space once occupied by the iconic retailer. The new wing is anchored by a Von Maur department store, […]

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The state of the metro Detroit shopping mall

The state of the metro Detroit shopping mall

High-end malls like some in Oakland County are expected to continue to perform well far into the future in spite of a changing mall landscape in the state’s wealthiest county, and across the state and country. In fact, contrary to the popular notion that brick and mortar retail is dying a slow death at the […]

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