LaSalle Bank was the seller. The lender owned the center afterthe prior owner had gone into default soon after Home Quartersvacated a large portion of the mall. Steve & Barry's nowoccupies much of the HQ space.

The property, at 2214 Mall Dr., was built in 1994, and includestenants Best Buy, Gander Mountain Superstore and Sam's WholesaleClub. Matt Shane with iCap says lease rates at the center arebetween $5 to $10 per sf.

Shane tells GlobeSt.com that the retail area has greatdemographics, but suffers because it is near Pontiac, a depressedarea in Oakland County. The open-air center is also next to theenclosed, 1.4-million-sf Summit Place Mall, which is only 40%occupied, with anchors Macy's, Sears and JC Penney. Japan-basedgaming company and Summit Place owner Namco, the creator of thepopular Pac-Man video game, has proposed to the township todemolish half the mall for single-family housing. The plan is stillbefore the township Board of Trustees.