Tucker Closes on 500,000-SF Mall Buy

BURTON, MI-Highland Park, IL-based Tucker Development Corp. has completed its acquisition of the 500,000-sf Courtland Center mall. Forest City Enterprises of Cleveland sold the property for un undisclosed amount.

“We have acquired the property to do some physical improvements and additional leasing, with the goal of improving the asset for long-term ownership,” says company president Richard Tucker. “We believe the expertise that we can bring to the table–with respect to both management and leasing – can lead to a more valuable asset.”

The mall, which is located at Interstate 69 and Center Road, is anchored by JCPenney, Mervyn’s and Old Navy, and is about 80% leased. Tucker said his company plans to reconstruct the parking lot and complete a variety of cosmetic improvements to the asset.