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Originally developed by developer A. Alfred Taubman in 1973, it was anchored at the time by Hudson's, JCPenney and Sears. Lord & Taylor added a store in 1980, only to close it in 1994. The store would then be replaced by Jacobson's, which went bankrupt in 2002 and was replaced by Von Maur. A theatre complex in the mall would close in 2005 but later re-open. Hudson's adopted the Marshall Field's name in 2001 before converting to Macy's on September 9, 2006. H&M also arrived in 2006. In 1998 Taubman's publically traded REIT, Taubman Centers, simplified its corporate structure and turned over full ownership to its financial partner, the GM Pension Trusts. Taubman continued to manage the mall until 2004, when The Mills Corporation became 50% owner and manager.