ROSEVILLE, Mich. - The Macomb Mall has been sold but it's staying open while its new owners plan to make improvements.
West Bloomfield-based Lormax Stern Development Company recently purchased the 921,000-squarefoot mall on Gratiot Avenue in Roseville.
The new owners plan renovations to the single-story building that are expected to include a wide array of interior and exterior upgrades. Renovation details will be released at a later date.
The sale price of the property was not disclosed.
"Macomb Mall is a destination for its neighbors in Macomb and Wayne counties. Its shoppers are loyal and passionate about the center," said Lormax Stern Director of Operations Karl Zarbo. "We believe that with such an outstanding mix of retailers and restaurants, along with the center's prime location, we will be able to fill existing vacancies and the one anchor tenant position in a short period of time. The demand is there."
Macomb Mall includes Sears, Kohl's, Old Navy and Babies "R" Us. The property features more than 85 specialty stores.
The landmark shopping center is the largest Michigan acquisition Lormax Stern has completed. Last month, the company purchased Bay City Mall in Bay City.
Copyright 2013 by ClickOnDetroit.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.