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Thanks for stopping by the Three West Blog. Hopefully we can offer you some expertise regarding Northern Michigan commercial real estate, brokerage, leasing, property management, and business issues in and around the Traverse City region. The main purpose for our blog is to educate and help those looking for a resource as it relates to your commercial real estate and business needs. If you have a specific question, shoot us an e-mail at info@threewest.net and we'll do our best to provide an answer. We'll also post many of the frequently asked questions and answers that we come across on a daily basis. We look forward to hearing from you. Check back often.

Commercial Real Estate

General Growth Close To Bankruptcy

Posted by Kevin Endres - Jan 24, 2009

General Growth Properties, the owner of Grand Traverse Mall, is close to bankruptcy. Short on cash and the banks unwillingness or ability to refinance the retaill giants debt has put it in financial peril. What will this mean for our hometown mall's future? In this economic downturn, and with consumer confidence and spending as low as they are, it would be hard to think that another mall operator would buy the mall outright. The Grand Traverse Mall plays a big part in our local economy, draws tourists, and generates money from outside the area. Having that amount of retail space hit the market could be detrimental to our local Commercial Real Estate market. For more on the story check out http://tinyurl.com/6p4x79

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