TROY (WWJ) -- There's a plan in the works to thoroughly redesign and reimagine Oakland Mall, with a focus on “family friendly entertainment” and price points that are “not intimidating.”
Real estate developer Mario Kiezi, who has amassed more than 2 million square feet of commercial space in Michigan and Ohio, confirmed a few weeks ago that he has the mall under contract for purchase for an undisclosed amount.
Kiezi said he has a new vision for the mall, located at 14 Mile Rd. and John R. Road in Troy.
Part of that vision includes a farmer’s market and ghost kitchens, as well as some unused space on the mall’s third floor that he wants to open up to the public.
Ghost kitchens are restaurants designed for delivery only.
“We hope to have offices up there, we hope to have fitness up there, we hope to have entertainment up there,” Kiezi said during a Monday press conference. “So when you work at the mall, or whatever we’ll call it, you can have an office up there and you can work out and you can come down and have lunch or you can go shopping, you can buy a gift.”
“We’re gonna have a lot of cool things.”
Kiezi didn't provide any remodeling timetables, renderings or costs for the 1.5 million square-foot mall. But, he did announce Hobby Lobby was coming next month.
Longhorn Steakhouse is also expected to come to the old Logan's Roadhouse site, just off of John R.
Despite declining interest in malls across the country, Oakland Mall reportedly currently has 90% occupancy.
Speaking live on WWJ Newsradio 950 Monday morning, Bloomberg's Ed Coury said the massive remodeling plan is expected to include so-called "brick and click" concepts, such as ghost kitchens and creative retail distribution.
Early this month, Crain's Detroit Business reported that letters were sent to the mall's tenants informing them of the pending ownership change. It's unclear at this time how the sale would affect businesses still open within the mall, including anchor store Macy's.
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Once the deal is final, Crain's said this would be the second suburban Detroit mall, along with Dearborn's Fairlane Town Center, to change hands in March. And it would be the most recent in the last several years, following the 2014 sales of Fairlane and The Mall at Partridge Creek in Clinton Township as part of a $1.4 billion deal, and the 2019 sale of Lakeside Mall in Sterling Heights for $26.5 million.
A news conference on the Oakland Mall plans was set for 2 p.m. Monday. Stay with WWJ for the latest.
