X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BINGHAM FARMS, MI – Malan Realty Investors Inc., a real estate investment trust (REIT) based here, recently announced that Edward T. Boutrous has been elected to the company’s board of directors. Boutrous, 54, is the managing member of The Boutrous Cos., LLC, in Auburn Hills, Michigan. The company is a developer of neighborhood shopping centers. The election of Boutrous expands the board of directors to seven members.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.