Pikesville Company Interested in Owings Mills Mall

Carl Verstandig, a Pikesville real estate investor, has approached Kimco to buy its stake in the mall, according to reports.

A Pikesville real estate company is looking to buy the Owings Mills Mall, according to media reports.

America’s Realty LLC has approached Kimco Realty, the company that currently owns the mall along with General Growth Properties, about buying their stake in the property, according to a Baltimore Business Journal report.

Carl Verstandig, the company’s CEO, told the BBJ he offered 10 to 15 percent more than other buyers for the mall, which has a vacancy rate of 55 percent. Verstandig could not be reached for comment.

Kimco, which unveiled plans to redevelop the mall, route: {:controller=>"articles", :action=>"show", :id=>"kimco-unveils-owings-mills-mall-revamp-designs"} --> in February, have not revealed what its next steps are going to be. Geoff Glazer, Kimco’s vice president of acquisitions and development for the Mid-Atlantic and Northeast regions, previously said Kimco would if the Solo Cup plant on Reisterstown Road was rezoned, making way for a Wegmans-anchored center called Foundry Row.

ReisterstownMAN September 20, 2012 at 10:23 AM
Take away the mall from KIMCO!
Chuck Burton September 20, 2012 at 01:12 PM
I wish the man luck, but think he's asking to take on a losing cause, and the property would be better used as a kind of extension of the Metro Centre and the Carefirst offices, with only related shopping - though if Macys and JCP can be included, fine.
kim September 20, 2012 at 01:12 PM
A Costco, DSW, Lowes would be nice but please no Liquor store or Wig Stores. A satellite police station would be nice
kim September 20, 2012 at 01:15 PM
Chuck yes that would be a great idea.
BluePeace September 20, 2012 at 01:18 PM
What is a "discount grocer"?
Chuck Burton September 20, 2012 at 01:36 PM
Aldi is one, but already has a store in Cherryvale. Maybe they are thinking of something like Shop-Rite.
PM September 20, 2012 at 02:20 PM
The property is a prime spot and should not be cheapened. I agree with getting it out of Kimco's hands if they are not willing to do anything as they have shown. Just don't give it to someone who's willing to bring in subpar quality stores.
ReisterstownMAN September 20, 2012 at 04:55 PM
even a store like deep discounts "DD'S" that is opening up on Security Blvd in the next few weeks near the price right is good
Neily j September 20, 2012 at 07:20 PM
Verstandig is not the guy for this
kim September 20, 2012 at 08:39 PM
We don't want low budget stores at the mall. The median income of the residents in Owings Milla should be considered . Not the folks coming from the subway
Carole September 20, 2012 at 10:55 PM
Excuse me, Reisterstown Man, but (1) Security Blvd looks like hell and (2) I live in Owings Mills and don't need my property values lowered any further by a "discount" grocery store or, for that matter, anything else labeled "discount."
Chuck Burton September 21, 2012 at 01:08 AM
Valid Point
Tokyo September 21, 2012 at 04:40 PM
I agree...please no liquor, no more dollar stores and please please no more wig and/or beauty stores. COSTCO would be awesome!!!
BoricuaMama October 01, 2012 at 04:32 PM
I agree with you Kim. Those would be good stores!
Super Deacon April 11, 2013 at 03:21 PM
It would be nice to see a Dick's Sporting Goods on the grounds. There is not sporting good store in the immediate area, and it would be nice to see the money remain there.


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