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Real estate developer purchases Oakland Mall with plans for a new vision

Posted at 9:15 PM, Mar 28, 2022
and last updated 2022-03-28 21:15:04-04

(WXYZ) — Oakland Mall is under new ownership. It was announced Monday that real estate developer Mario Kiezi has acquired the mall in Troy, and he is expected to announce a new vision for the mall. More details are expected at a press conference at 2 p.m. Monday.

The 1.5 million-square-foot mall opened in Troy in 1968 and is at more than 90% occupancy, according to Kiezi.

According to Kiezi, some of the new plans could include brick-and-click concepts like ghost kitchens, creative retail distribution and more. Among the new tenants he revealed during an afternoon news conference are Hobby Lobby and Longhorn Steakhouse. He also said he wants to bring national entertainment to the facility that Michigan has never seen before.

Kiezi also announced he wants to bring outdoor spaces and non-mall concepts like a farmers' market to the facility.

Last year, Kiezi Investments acquired the former Sears store on the site of Oakland Mall and is redeveloping the property.