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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000913569-99-000039.txt : 19990403
<SEC-HEADER>0000913569-99-000039.hdr.sgml : 19990403
ACCESSION NUMBER:		0000913569-99-000039
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990401

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MALAN REALTY INVESTORS INC
		CENTRAL INDEX KEY:			0000914735
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				381841410
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		
		SEC FILE NUMBER:	005-43281
		FILM NUMBER:		99585388

	BUSINESS ADDRESS:	
		STREET 1:		30200 TELEGRAPH RD
		STREET 2:		STE 105
		CITY:			BIRMINGHAM
		STATE:			MI
		ZIP:			48025
		BUSINESS PHONE:		2486447110

	MAIL ADDRESS:	
		STREET 1:		30200 TELEGRAPH ROAD
		STREET 2:		SUITE 105
		CITY:			BIRMINGHAM
		STATE:			MI
		ZIP:			48025

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KROSS PETER T
		CENTRAL INDEX KEY:			0000934210
		STANDARD INDUSTRIAL CLASSIFICATION:	 []
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		440 EAST CONGRESS
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48226

	MAIL ADDRESS:	
		STREET 1:		248 GROSSE POINTE BLVD
		CITY:			GROSSE POINTE FARMS
		STATE:			MI
		ZIP:			48236
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<TEXT>

                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                 SCHEDULE 13D

                   Under the Securities Exchange Act of 1934
                               (Amendment No. 4)


                         MALAN REALTY INVESTORS, INC.
                               (Name of Issuer)

                    Common Stock, par value $0.01 per share
                        (Title of Class of Securities)

                                  561063-10-8
                                (CUSIP Number)

                              Paul R. Rentenbach
                              Dykema Gossett PLLC
                            400 Renaissance Center
                         Detroit, Michigan  48243-1668
                                (313) 568-6973
          (Name, Address and Telephone Number of Person Authorized to
                      Receive Notices and Communications)

                                March 19, 1999
            (Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].

<PAGE>
         This is a corrected version of Amendment No. 4 to the Schedule 13D
filed by Peter T. Kross relating to the common stock, par value $0.01 per
share (the "Common Stock") of Malan Realty Investors, Inc. (the "Issuer").
The initial filing of Amendment No. 4 showed an incorrect date for the
event requiring the filing of the amendment on the cover page of the amend-
ment.  As stated in the initial filing of Amendment No. 4, Item 5 of the
Schedule 13D is hereby amended to read as follows:

Item 5.  Interest in Securities of the Issuer.

(a)      Mr. Kross beneficially owns 387,160 shares of Common Stock, which
constitutes 7.5% of the issued and outstanding share of the Issuer's Common
Stock, based on the Issuer's most recent annual report on Form 10-K.

(b)      Mr. Kross has the sole right to vote and dispose of all of the
shares of Common Stock described in (a) above.

(c)      The only transactions in the Common Stock by Mr. Kross during the
past 60 days are the following purchases, all of which were made in open
market transactions on the New York Stock Exchange:

                                  Per Share
Date        No. of Shares      Purchase Price      Total Price
- ----        -------------      --------------     -----------

1-26-99       2,300 shs.         $14.0553         $ 32,327
1-28-99      13,000               14.0393          182,511
2-01-99       5,000               14.0422           70,211
2-09-99       5,000               14.0422           70,211
2-23-99       9,000               14.0493          126,444
3-19-99      10,000               14               140,000
3-24-99      20,000               14               280,000
3-25-99      15,000               14               210,000
        
(d)      Not applicable.

(e)      Not applicable.

<PAGE>                            SIGNATURES

         After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete
and correct.


Date: March 26, 1999                     /S/ PETER T. KROSS
                                         Peter T. Kross


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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