Michigan mall sells to developer

Site features massive amount of space

Urban Retail Properties LLC today announced its acquisition of Oakland Mall, a shopping center located in Troy, Mich. Neither the seller's identity nor the purchase price was disclosed. Comprising more than 1.5 million square feet, Oakland Mall is home to Macy's, JCPenney and Sears, and more than 125 specialty stores, including Bath & Body Works, Victoria's Secret, Borders Books and Music, and Steve and Barry's. This acquisition is Urban's first since 2002, when the company was sold. Urban is an independent, privately held company, and has been the developer for more than 75 retail and mixed-use projects. ...