Locally based Schostak operates more than 50 retail, office and other commercial properties around the Detroit area. Schostak did not return phone calls seeking comment on its decision.
Macomb Mall features about 933,000 sf and has a 93% occupancy rate. Laurel Park Place is 870,000 sf and is 91% leased. Schostak operates one other metro Detroit area mall, Wonderland, also in Livonia. That property is in the process of being "de-malled" and turned into several free-standing buildings on the property.
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