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May 23, 2021 12:13 AM A tale of 2 malls: Partridge Creek is in trouble, Village of Rochester Hills isn t. What s the difference? Top: Larry Peplin for Crain s Detroit Business; Above: CoStar Group Inc. At top, the Mall at Partridge Creek in Clinton Township. Above, the Village of Rochester Hills is at Adams Road and Walton Boulevard. It was developed in 2002. A pair of open-air shopping centers not so far apart are facing different fates. The Mall at Partridge Creek in Clinton Township is looking down the barrel of receivership after its Miami Beach, Fla.-based owners defaulted on a $725 million mortgage, buckling under the weight of massive debt, the COVID-19 pandemic and e-commerce. ....
Apple has reopened its stores in the state of Michigan. The stores were temporarily closed due to a surge in COVID-19 cases. All of the Apple Stores in Michigan in the United States are open once again. Spotted by 9to5Mac s Michael Steeber yesterday, Apple had updated its store pages to inform customers that the stores would be reopening today. As pointed out by Steeber, it appears that all of them are currently operating as Express Storefronts, meaning that customers can make a quick purchase or pickup at the front of the store but will not be able to enter. ....
Fairlane Town Center value plunges by more than 50 percent Dearborn mall appears headed for sale as owner struggles to pay CMBS debts Dearborn s Fairlane Town Center appears headed for sale as owner Starwood Capital Partners struggles to pay its CMBS debts. As a sale appears likely following a mortgage default, the Fairlane Town Center shopping mall in Dearborn is worth less than half what it was when it was bought more than six years ago. Data provided by New York City-based Trepp LLC shows that Fairlane, located at 18900 Michigan Ave., is worth just $42.75 million, according to an August 2020 appraisal. That s down 57.7 percent from $101 million when Miami Beach, Fla.-based owner Starwood Capital Partners bought it from what was then Taubman Centers Inc. as part of a $1.4 billion deal that also included The Mall at Partridge Creek in Clinton Township and five other malls. ....
Apple Has Temporarily Closed all of their MI Stores due to COVID wjimam.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wjimam.com Daily Mail and Mail on Sunday newspapers.
Apple Has Temporarily Closed all of their MI Stores due to COVID mix957gr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mix957gr.com Daily Mail and Mail on Sunday newspapers.