Find in the news:
BY COUNTRY

Will judge’s decision close Northland Center?



Northland Center is in danger of being shut down as its losses of $250000 per month continue.

Northland was opened during 1954 and was one of the first major suburban malls in the country.  During last year, it defaulted on a $31m loan and the courts are now asking for permission to shut it down.

If permission is granted, the existing tenants will be served 30-day notices to vacate the premises, which means the mall could be empty by April or May.  An attorney representing the court-appointed receiver, John Polderman, said the mall is insolvent and is not able to pay its basic expenses to operate the venue.  He said that there are possible buyers for the property who may well keep it open.  One of the potential buyers has been named as the City of Southfield.  No comment was made by Southfield.

The center has been on a downward spiral for several years and the court filings indicate that it was losing almost $250000 per month.  It will cost in excess of $6m to restore the center to a fully functioning mall.  This figure excludes the $3m in unpaid bills that the center has amassed.

The owners of the property, a subsidiary of Ashkenazy Acquisition, New York, have been blamed for the demise of the center.  They have not bothered to maintain the property adequately or committed to any investment in the property.

Ashkenazy’s legal representatives have objected to closing down the mall.  They believe that this action will divest the community of a landmark and create job losses.

The main problems with the mall have been described as:
  • No anchor tenants as they will all have moved out by next month
  • High monthly expenses
  • Failure to pay rent on time by the existing tenants
  • Maintenance and repairs required by Northland Center run into millions of dollars

Related shopping malls and stores:

More about shopping malls in the USA



Mar 17, 2023, India:
The 22,000-square-foot store will be a tenant at Reliance Industries' Jio World Drive mall.
Mar 16, 2023, Spain:
Inditex Group's revenue for the past year added 18% to €32.6 billion, up 15% from 2019 before the pandemic.
Mar 16, 2023, USA:
Athletic brand Reebok has partnered with a department store chain to create exclusive apparel and footwear collections.
Mar 15, 2023, Germany:
The first phase of the chain's optimization will occur in the summer of 2023.
Mar 15, 2023, Sweden:
As part of its used-clothing project, H&M also offers its customers items from last year's collaborations with guest designers.
Mar 15, 2023, United Kingdom:
Irish multinational fast fashion retailer Primark has launched a series of initiatives to extend clothing life.
Friend
and Follow
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us