In other company news, Anthony Gramer, the former CEO and President who was fired in June, has filed a lawsuit in Oakland County Circuit Court against Malan, claiming he's owed more than $1 million in salary and other costs. The board of directors of appointed Jeffrey D. Lewis as chief executive officer in October and former vice president Michael Kaline to president in August. The changes resulted after a proxy fight earlier this year ousted its board. The battle and a change of control agreement cost the company $3.4 million.
Malan Realty Investors Inc. owns, acquires, redevelops and manages properties that are leased primarily to national and regional retail companies. The company owns a portfolio of 64 properties located in nine states that contains an aggregate of approximately 5.9 million sf.
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