Investment firm to bring “Out of the Box” ideas to area malls

As retail shopping habits continue to change from big box stores to online retailers, one investment firm is buying up former stores and even malls with hopes of re-purposing them. One of those companies is venture capital firm Out of the Box Ventures which owns the former Macy’s building at the  Birchwood Mall in Fort Gratiot Township. In total the company owns 20 properties across the country, according to Chief Operating Officer Trevor Barron. He describes to WPHM some of the potential re-uses for the former Macy’s store. “Go-karts, bowling, e-sports, gyms… and we have specific interest in healthcare,” said Baron. “This site in particular (in Fort Gratiot) has a potentially interesting connection to the water so we’re also looking at some potential residential-type uses there in partnership with local developers.” Earlier this month, the investment firm purchased Lakeside Mall in Sterling Heights for $26.5 million.

 

December 20 Trevor Barran