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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KD4tXQZ84Yp4tOgNS2B2GZtfky7u9VZgx1JtdmGoTrqcugdpypMYsJ8BC6ENTG5R
 p0HKeETck/PiL/fQuck1EA==

<SEC-DOCUMENT>0000930413-04-005904.txt : 20041227
<SEC-HEADER>0000930413-04-005904.hdr.sgml : 20041224
<ACCEPTANCE-DATETIME>20041227091147
ACCESSION NUMBER:		0000930413-04-005904
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20041217
FILED AS OF DATE:		20041227
DATE AS OF CHANGE:		20041227

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Feldman Mall Properties, Inc.
		CENTRAL INDEX KEY:			0001299901
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				134284187
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3225 NORTH CENTRAL AVENUE, SUITE 1205
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85012
		BUSINESS PHONE:		602 277 5559

	MAIL ADDRESS:	
		STREET 1:		3225 NORTH CENTRAL AVENUE, SUITE 1205
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85012

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA
		CENTRAL INDEX KEY:			0000315038
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32365
		FILM NUMBER:		041225640

	BUSINESS ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124909000

	MAIL ADDRESS:	
		STREET 1:		730 THIRD AVE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>c34929_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2004-12-17</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001299901</issuerCik>
        <issuerName>Feldman Mall Properties, Inc.</issuerName>
        <issuerTradingSymbol>FMP US</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000315038</rptOwnerCik>
            <rptOwnerName>TEACHERS INSURANCE &amp; ANNUITY ASSOCIATION OF AMERICA</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>730 THIRD AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1367000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>583000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Registered investment companies and private funds</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The filing of this statement should not be construed as an admission that TIAA is, for the purposes of Sections 13 or 16 of
 the Securities Exchange Act of 1934, the beneficial owner of these shares.</footnote>
        <footnote id="F2">TIAA-CREF Investment Management, LLC (&quot;Investment Management&quot;) acts as investment adviser to College Retirement Equities Fund
 (&quot;CREF&quot;). Teachers Advisors, Inc. (&quot;Advisors&quot;) acts as investment adviser to TIAA-CREF Institutional Mutual Funds
 (&quot;Institutional Funds&quot;), TIAA-CREF Life Funds (&quot;Life Funds&quot;), and TIAA-CREF Asset Management Commingled Funds Trust I (&quot;TCAM
 Funds&quot;). TIAA, as the ultimate parent of the two registered advisers, Investment Management and Advisors, may be deemed to
 have indirect interest in the shares held by CREF, Institutional Funds, Life Funds, and TCAM Funds.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Stewart P. Greene</signatureName>
        <signatureDate>2004-12-23</signatureDate>
    </ownerSignature>
</ownershipDocument>

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