Ames’ North Grand Mall is one of five Iowa shopping malls going through a change of management due to an August buyout. The 351,000 square-foot mall, formerly owned by Teacher’s Insurance and Annuity Association (TIAA) and Rouse Companies, was purchased by Landau and Heyman.

Landau and Heyman is a 65-year-old retail real estate development company based in Chicago.

“Landau and Heyman’s strategic objective is to provide quality shopping in under-served markets,” said Gerry Curciarello, managing director and chief financial officer for Landau and Heyman, in a recent press release.

“By acquiring these five centers, which collectively have some real upside potential, we have an opportunity to add value and strengthen each center’s position in the marketplace,” he added.

Though Landau and Heyman has not yet announced any significant changes in the way North Grand Mall, 2801 Grand Ave., is managed or leased, store managers hope the mall will continue to run the same.

“I am hoping no changes will be made,” said Sheryl Ford, manager of Seiferts. “[TIAA and Rouse Co.] had been doing a good job at keeping the mall 100 percent leased.”

The only difference many managers have noticed so far is the change in address where lease payments are sent.

Fox Jewelry Co. Inc. manager Eric Hanson said he has heard only minor complaints, like the temperature of the mall is not kept cool enough in the summer.

“Though [lowering the temperature] may cost a lot more, if you draw people in to escape the heat, it would be worth it,” Hanson said.

Other Iowa malls included in the Landau and Heyman buyout are: Westland Mall in West Burlington, College Square Mall in Cedar Falls, Marshall Town Center in Marshalltown and Muscatine Mall in Muscatine.