Pikesville realty company buys Fields building

America's Realty acquires property pre-auction

June 24, 2013|By Alison Knezevich, The Baltimore Sun

A local realty company says it has bought the Fields of Pikesville building on Reisterstown Road and plans to use it for retail and medical office space.

The store and lunch counter shut down last year. Carl Verstandig, president and CEO of America's Realty LLC, said Monday that he bought the property for $1.3 million.

A dollar store and national automotive parts store are interested, and "we're negotiating with both of them," Verstandig said. The second floor would be medical offices.

The building, located at the intersection of Reisterstown Road and Walker Avenue, was set to be auctioned Tuesday.

Verstandig said he was drawn to the property because of the significant volume of business generated at the nearby Giant grocery store.

The building needs renovations, and Verstandig said he hopes it can open with the new tenants within five months. The firm plans to maintain the facade and the "Fields" sign, he said.

Verstandig said his company owns more than 160,000 square feet of space around Reisterstown Road, including the Club Center. In Maryland, America's Realty owns about 50 shopping centers, he said.



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