Regions Midwest
Commission to Consider Lavonia Mall Redevelopment Plan
July 3, 2008

With most of Livonia Mall's tenants having negotiated lease terminations, the road has been paved for a massive remake of the shopping center just outside of Detroit, Mich., and the Livonia Planning Commission intends to give the plan the once-over on July 15, according to Crain's Detroit Business. Livonia Phoenix L.L.C.--a team consisting of Konover South, Grand Sakwa Properties and Lormax Stern Development Co.,--acquired the 46-year-old enclosed mall in May. Site plans for the project detail 320,000 square feet of retail space divided among several structures surrounded by green space and walkways. If the Planning Commission, which is scheduled to vote on the project July 22, gives the green light, Livonia Phoenix will then seek the approval of the Livonia City Council.


 
Recent Midwest Headlines
Healthcare REIT Snaps Up Wellness Centers in $100M Sale-Leaseback Deal
Aug. 28, 2008
Four wellness centers operated by Life Time Fitness Inc. have come under the ownership of Senior Housing Properties Trust, courtesy of a $100 million deal. Life Time Fitness will continue to occupy the properties under a triple-net lease agreement through its subsidiary, LTF Real Estate Co.
Fund Invests $44M in Texas, Ohio Student Housing
Aug. 27, 2008
The Place/BV Student Housing Fund L.L.C. continues to make investments in student housing facilities across the United States, with two more announced today. The properties will be developed in Texas and Ohio for $44 million with completion set for next summer.
Tropicana Eyes New Buyer for Indiana Casino
Aug. 25, 2008
Casino Aztar in Evansville, Ind., is reportedly on the block again, but not necessarily to Eldorado Resorts L.L.C. Earlier this year, Casino Aztar owner Tropicana Entertainment L.L.C. agreed to sell the property to Eldorado for $220 million, but Tropicana filed for bankruptcy before the deal was closed.
Kenco Takes Over Management of 1.6 MSF Whirlpool Facility in Columbus
Aug. 25, 2008
Kenco Logistic Services L.L.C. has obtained management rights to a Whirlpool distribution center in Ohio. Kenco will assume control over the 1.6 million-square-foot Whirlpool Distribution Center in Columbus, Ohio, upon its opening in October.
Zell_Sam Zell: Is the Grave Dancer Finally in Grave Trouble?
Aug. 25, 2008
It's probably the biggest grave Sam Zell has ever danced on: the Tribune Co., with its newspapers, broadcast media, the Cubs and other interests. Strictly speaking, it isn't a grave -- plenty of the company's properties make money -- and it isn't a real estate play. Still, real estate promises to play an important role by providing some of the much-needed liquidity that the company will use over the next few years to pay down parts of its debt, which totals about $12.5 billion.