www.mybaycity.com
March 26, 2013
(Prior Story) Business ArTicle 8022 (Next Story)
Sponsored by Bay Area Chamber of Commerce
Bay City Mall -- Store Layout BAY CITY MALL SOLD! West Bloomfield Firm Owns 22 Other Malls in Michigan
March 26, 2013
1 Comments
|
||||||||||||
| Printer Friendly Story View |
Bay City Mall today announced it has been purchased by Bay City Mall Partners, LLC, a partnership between Lormax Stern Development Company and Wayzata Partners.
Lormax Stern, a West Bloomfield, Michigan, firm, owns 22 other mall properties in the state plus malls in Texas, Kentucky and Florida. The Michigan malls include Frandor in Lansing, Centerpointe in Grand Rapids and Shelby Creek, near Detroit. Price of the Bay City sale was not disclosed.
Wayzata Investment Partners, of Wayzata, Minnesota, and Boston, Massachusetts, is managed by a team that has invested $19 billion since 1992. Wayzata Investment Partners was formed in May 2004 after a management buyout of the former CFSC Wayland Advisers, Inc., a subsidiary of Cargill, Inc. Formed in 1997, Wayland invested third-party capital in undervalued debt, equity and assets.
"We are excited to be part of a Michigan Based company who understands the market and plans to bring new retailers to the Bay City Mall which Lormax Stern has developed a relationship with elsewhere in their portfolio," said Barbara Behmlander, General Manager of Bay City Mall. "When the time comes to announce plans for new stores, our shoppers and retailers will be just as energized as we are."
Bay City Mall is a 526,000 square foot shopping center located at 4101 East Wilder Road in Bay City. According to Ms. Behmlander, over 4 million people pass through Bay City Mall on a yearly basis.
The mall draws customers from the Great Lakes Bay Region and communities along the Lake Huron shoreline. Major stores include Younkers, Target, JCPenney, Sears, Dunham's, Bay City 8 Theater, and dozens of national, regional and local retailers, restaurants and specialty shops.
Bay City Mall is the sixth acquisition by Lormax Stern Development Company in Michigan over the last 12 months. Karl Zarbo, Director of Operations at Lormax Stern said, "Bay City and Bay County are serious about economic development and job growth, and combined with their great existing demographics, it made for an easy decision to purchase."
For further details and coupon information please contact the mall office at 989-667-0770 or visit our website baycitymall.com.
| Printer Friendly Story View |
"The BUZZ" - Read Feedback From Readers! |
|
cr_cummikngs Says:
On April 21, 2018
at 12:14 PM
Sir,
I understand that a major department store is closing, they have just recently added a furniture section. Maybe this area should be considered as a spot to open a huning and fishing store. |
|
|
Dave Rogers |
|
|
|
Printer-Friendly Story View
0200 Nd: 04-15-2024 d 4 cpr 0
12/31/2020 P3v3-0200-Ad.cfm
SPONSORED LINKS
12/31/2020 drop ads P3v3-0200-Ad.cfm