Carrolltowne Mall slated to be auctioned Oct. 30

COMMERCIAL REALTY NOTES

October 16, 1991|By Edward Gunts

Carrolltowne Mall, a large retail center in Eldersburg that is anchored by a Super Fresh food store, a Peebles department store, a K mart and a six-screen movie complex, will go on the auction block Oct. 30 in a foreclosure sale on behalf of Maryland National Bank.

Alex Cooper Auctioneers is handling the sale, which will be held at 2:30 p.m. on the steps of the Carroll County Courthouse. The 298,383-square-foot Carrolltowne Mall is one of the largest retail centers to go up for auction in Maryland in this recession.

According to court documents, Maryland National attorneys claim that the owner, Carrolltowne Center Associates Limited Partnership, owed the bank $36.4 million as of Aug. 13 and that interest was accruing at the rate of $8,376 per day.

Multi-Properties Inc., a group headed by Sheldon and Simon Goldseker, has announced plans to develop The Gateway at Owings Mills, a 40,000-square-foot office and "flex space" building at 3600 Crondall Lane.

The Goldsekers say they are proceeding with development because they see modest indications of improvement in the market, particularly in the Owings Mills area.

Gaudreau Inc. is the architect, and Riparius Construction Co. will serve as project contractor. Paul Lee and Associates is the site engineer. Kayne Levin Neilson Bavar Realtors is the exclusive leasing agent.

*

Around the region:

* The building in Towson that houses Mykonos Restaurant, 418-420 York Road, will be sold at auction today at 12:30 p.m. Alex Cooper Auctioneers is handling the sale, which also includes the fixtures and a liquor license.

* The former Occidental Chemical Corp. industrial plant, a 139-acre property in Perryville with 184,000 square feet of space, will be sold at auction on Nov. 19 by Sheldon Good & Co. The property is served by a rail line and zoned for industrial use. * The former office of Center City-Inner Harbor Development Inc., on the 21st floor of the Mercantile building in Hopkins Plaza, has been leased as the command center for Christopher Columbus Center Development Inc., the non-profit group planning a $164 million marine research center slated for construction on Piers 5 and 6 at the Inner Harbor.

* Jonathan Melnick Auctioneers will hold an auction Oct. 25 at 4:30 p.m. for 12 boat slips at the Anchorage Marina, 2501 Boston St. in Canton. The auction has been scheduled on behalf of individual boat slip owners and is not related to recent action taken by Perpetual Savings Bank to initiate foreclosure proceedings against the developers of the marina.

In court documents, Perpetual representatives said that the marina's developers owed the bank more than $3.4 million as of mid-July.

* W. C. Pinkard & Co. recently assumed property workout duties for two financial organizations. South Charles Realty Corp., an affiliate of Maryland National Bank, awarded the property marketing and management contract for the 134,000-square-foot 303 International Circle office building in Hunt Valley to Pinkard, which is also attempting to sell it for South Charles Realty. In addition, Sun Life Insurance Co. of Canada selected Pinkard to manage its 23,000-square-foot office building at 341 N. Calvert St.

* Probst-Mason Inc. Architects announced that work has been completed on its latest project: the 13,000-square-foot, two-story national headquarters for the Thoroughbred Racing Association and the Thoroughbred Racing Protective Bureau in Cecil County.

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