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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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GR-area commercial retail market strong heading into holiday season

The retail sector of West Michigan’s commercial real estate market is seeing heavy activity despite many business owners struggling to stay fully staffed. Local real estate brokers attribute the high level of activity partly to pent-up demand from consumers and deals being put on hold in 2020 because of the pandemic, as well as the […]

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Southfield sells Northland mall property for $11.1M

After entertaining a number of interested parties, the city of Southfield has finally inked an $11.1 million deal with Bloomfield Hills-based Contour Cos. for a majority of the 114-acre former Northland Center property. The signing of the deal, which was announced July 29, came shortly after the city received approval of a $26 million Michigan […]

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Coming soon to Toledo: Discount retailer HomeBuys, upscale restaurant Cooper’s Hawk

Discount home goods retailer HomeBuys is coming to Toledo, filling a long-vacant space at Talmadge Road and Monroe Street that previously housed The Andersons general store. The Columbus-based company with locations around the state claims a “treasure-hunt atmosphere,” with always-changing items. It purchases closeout items from other retailers and manufacturers then sells them at a deep discount. […]

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Northland mall sale closes; redeveloper plans to build housing, commercial space

The City of Southfield finalized the sale Thursday of the abandoned Northland Center mall to a private developer who plans to demolish big portions of the old shopping mall, save some of it and build new housing and commercial space. Bloomfield Hills-based Contour Companies closed on the $11.1 million purchase agreement for the 97-acre site and the money is sitting […]

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Plan for home furnishings retailer RH in downtown Birmingham moves forward

Two years after Birmingham voters nixed a proposal to build a new parking deck that would help bring RH (formerly Restoration Hardware) to downtown, another plan appears closer to reality. The city’s planning board voted Wednesday to recommend approval of the final site plan and special land use permit for the building that would house […]

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Region’s third known Amazon Fresh grocery store coming to Troy

The region’s third Amazon Fresh grocery store concept is believed to be under construction in Troy. Permits and site plans obtained from the city through a Freedom of Information Act request show a layout and design similar to other Amazon Fresh stores around the country, including locations Crain’s previously first reported in the spring in Shelby […]

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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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Elder-Beerman, Sears redevelopment unlikely for now, city official says

Fifteen months ago the city of Toledo soundly rejected tax abatements that would have helped a California firm redevelop the former Elder-Beerman property on Secor Road. It appears the once-popular department store will remain vacant for the foreseeable future because tearing it down and erecting new retail space on the site is not economically feasible […]

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Meijer wants abandoned Kmart site in Orion Township

Meijer has its eyes on an abandoned Kmart in an Orion Township shopping center as a future location for a Meijer store. The former Big K at 1025 S. Lapeer Road in the Lake Orion Plaza would be demolished and replaced by the nearly 90,000-square-foot Meijer store, which would be slightly bigger than the Big K and […]

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Can Amazon deliver new life to Reynolds Road?

In a few months, what was the weed-strewn, broken concrete grave of the former Southwyck Shopping Center will be reborn with the opening of Amazon’s $25 million “Delivery Station.”  The 150,000-square-foot facility at 2040 S. Reynolds Rd. will bring new life, plus 410 jobs, to the 58-acre site that has sat vacant since 2008 when […]

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Village of Rochester Hills welcomes new retailers

The Village of Rochester Hills has avoided some of the pitfalls other shopping centers are encountering and is adding a slew of new retailers. The outdoor shopping center at Adams and Walton roads is at 95 percent capacity and has avoided many COVID-related closures, said Scott Aikens, vice chairman and director of leasing for Robert B. Aikens & Associates […]

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Is this empty Hall Road storefront the site of Amazon Fresh’s first Michigan location?

The proposed remodeling of the former Gander Outdoors store in Shelby Township could be a harbinger of a new grocery option making its way across the country: Amazon Fresh. A site plan I obtained through a Freedom of Information Act request to Shelby Township shows a new exterior to the building at 13975 Hall Road […]

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Plans come together for Port Huron’s first downtown grocery store in 50 years

Plans come together for Port Huron’s first downtown grocery store in 50 years

If you had told Steve Fernandez and Michele Jones in 2012 that they were going to retire to Port Huron, then spend most of their retirement savings on becoming grocers, they’d have thought you’d been eating funny mushrooms. In 2012, he was working in Alaska as the Anchorage terminal manager for Koch Industries. Michele, his […]

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Pet Supplies Plus in Livonia to be Sold for $700M

Pet Supplies Plus in Livonia to be Sold for $700M

Sentinel Capital Partners, a private equity firm that invests in lower midmarket companies, today announced plans to sell Livonia-based Pet Supplies Plus, the third largest pet specialty chain in the U.S., to Franchise Group Inc. The deal is valued at $700 million. Founded in 1988, Pet Supplies Plus is a leading franchisor and operator of pet-specialty […]

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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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Kroger investing $95 million in new high-tech fulfillment center in Romulus

Kroger investing $95 million in new high-tech fulfillment center in Romulus

The Kroger Co. is spending $95 million to build an automated customer fulfillment center in Romulus that would create 270 jobs. The Michigan Strategic Fund board on Tuesday awarded $1.6 million in a Michigan Business Development Program grant to support the project. The planned 130,000-square-foot facility at 15675 Wahrman Road will prepare and ship grocery […]

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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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Kroger and online grocery firm to build $95M fulfillment center in Romulus

Kroger and online grocery firm to build $95M fulfillment center in Romulus

The Kroger Co. and grocery ecommerce firm Ocado Solutions will build a $95 million customer fulfillment center to Romulus. The 135,000-square-foot facility at 15675 Wahrman will create 250 jobs, officials said Monday. The companies had previously announced plans to build a center in the Great Lakes Region. “Kroger is incredibly excited to develop one of our industry-leading customer […]

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Can retail recover from virus? Experts say future is murky

Can retail recover from virus? Experts say future is murky

In 2019 there were 17 major retailers who filed for bankruptcy, including Forever 21, Barney’s of New York, Things Remembered, and Payless ShoeSource. With 2020 just over seven months old, there already have been 26 major retailers that have sought bankruptcy protection, including J.C. Penney, Lord & Taylor, Neiman Marcus, and this past Tuesday, Stein […]

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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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Why Would Amazon Scope Out JCPenney? It’s The Real Estate!

Why Would Amazon Scope Out JCPenney? It’s The Real Estate!

Great Article featuring Whitebox Real Estate/TCN Worldwide: Kerri Panchuk of Bisnow talks to Grant Pruitt from TCN’s Dallas office, Whitebox Real Estate/TCN Worldwide, about Amazon’s possible acquisition of JCPenny. Rumor has it struggling JCPenney Co. is a possible acquisition target for Jeff Bezos’ Amazon. JCPenney filed for Chapter 11 bankruptcy Friday and said it would close about 240 […]

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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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Hall Road, other shopping centers face changing landscape amid COVID-19

Hall Road, other shopping centers face changing landscape amid COVID-19

What is perhaps Metro Detroit’s busiest shopping corridor is hurting. At 10.5 miles, the stretch of M-59/Hall Road that runs east to I-94 in Macomb County produces one of the most formidable retail hot spots in the region. So what happens when half of the 90,000 to 100,000 cars that traverse it daily stay in […]

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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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The Mall at Partridge Creek in Clinton Township Adds Four Retailers

The Mall at Partridge Creek in Clinton Township Adds Four Retailers

The Mall at Partridge Creek in Clinton Township is adding American Eagle/Aerie, Burger Fin, Detroit Axe, and lululemon to its outdoor shopping center. American Eagle/Aerie, a lifestyle clothing and accessories retailer and its lingerie sub-brand, is set to debut in the fourth quarter. The combined store will encompass about 10,800 square feet. Burger Fin, a […]

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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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Southgate aims to reinvent commercial district

Southgate aims to reinvent commercial district

In a broad effort to entice new businesses and promote economic vibrancy, Southgate city officials are working to carve out a new identity for the downriver community’s commercial district. Southgate’s downtown district, largely defined as Eureka Road between Allen Road and Fort Street and parts of Trenton and Dix Toledo roads, is slowly taking shape […]

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Lakeside Mall’s future is pondered, but Macomb’s M-59 corridor is still retail gold

Lakeside Mall’s future is pondered, but Macomb’s M-59 corridor is still retail gold

Some have had plenty of fun at the expense of Macomb County’s newest art installation in the Hall Road/M-59 median, an orange, 35-foot-tall ring recently dubbed The Halo. But the 10.5-mile road’s retail scene is no laughing matter. In fact, it’s one of the most active in the region, catering to hundreds of thousands of […]

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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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