BUSINESS MEMO: SHOPPING MALLS SOLD

DETROIT -- General Growth Properties Inc. has purchased three Michigan shopping malls, giving it six in the state with a seventh on the drawing board.

Chicago-based General Growth paid $134 million Monday to acquire Lakeview Square Mall in Battle Creek, Westwood Mall in Jackson and Lansing Mall from Forbes/Cohen Properties of Southfield.

The company also operates malls in Bay City, Port Huron and Traverse City. Next spring, General Growth plans to begin building the $100 million Grandville Mall, south of Grand Rapids. Sears, JCPenney, Hudson's, Kohl's and Yonkers department stores are planned for the 1 million-square foot mall, set to open in 1998.