Jager Management, an affiliate of GP, will manage the mall.Northland is 46 years old, and has seen better years since it wasone of the first suburban malls in the Detroit area. It's now about85% occupied. Just south of Eight Mile Road, the border to Detroit,it has lost business due to crime concerns and closed stores.
"We see great potential in the market to rejuvenate NorthlandCenter, says Alan Wood, director of operations for JagerManagement. VP Chuck Steinberg says his company purchased the mallbecause it's believed to be a good property. He refused to divulgethe sale price.Wood says the mall is the largest parcel in thecompany's portfolio, which includes malls and strip centers in fiveEastern states. Northland is Jager's only Michigan property, Woodtells GlobeSt.com.
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