Eastpoint Mall sold at auction for $30 million

Lender's representative purchased 67-acre site

May 30, 2012|By Steve Kilar, The Baltimore Sun | Baltimore Sun reporter

Eastpoint Mall, in southeast Baltimore County, was sold at auction Tuesday for $30.3 million, according to the auctioneer.

A real estate investment firm based in southern Florida, LNR Property LLC, purchased the mall on the behalf of the lender who foreclosed on the property, said Alexander Forbes, of Tidewater Auctions LLC in Towson.

One other bidder actively competed with LNR during the auction process, Forbes said.

The auction stemmed from a lender's lawsuit against Thor Equities LLC, the New York-based investment firm that bought the mall in 2006.

There is 850,000 square feet of leasable space in the shopping center, situated on a 67-acre parcel between Eastern Avenue and North Point Boulevard.

LNR declined to comment Wednesday on their intentions for the property.

steve.kilar@baltsun.com

twitter.com/stevekilar

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