Complex sentence: The original owner was NCNB (now Bank of America) acting as trustee for the Public Employees Retirement System of Ohio, and the developer was LJ Hooker Corporation, which had embarked on an ill-fated plan to build malls across the United States.
Split into simpler sentences: The original owner was NCNB (now Bank of America) acting as trustee for the Public Employees Retirement System of Ohio, which selected as a mall developer the LJ Hooker Corporation. Hooker had embarked on an ill-fated plan to build malls across the United States.