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NEWS
By Frank Lynch and Frank Lynch,Staff Writer | January 9, 1994
Major face lifts are planned for two retail centers in Bel Air.Work will soon begin at the Bel Air Plaza with the demolition of the 22,000-square-foot Super Fresh grocery store. It will be replaced by a 45,000-square-foot facility that will offer customers a meat department and delicatessen, produce section, salad bar, bakery, prepared foods section, and gourmet food and cheese area.About 30 workers will be employed when the store opens later this year. Most will be current workers who have been reassigned to other Super Fresh stores while construction takes place in Bel Air.The plaza parking area will be resurfaced, and fronts of stores will be modernized.
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AEGIS STAFF REPORT | July 1, 2013
Joshua M. Lewis has been promoted to retail loan center branch manager, a new position at Aberdeen Proving Ground Federal Credit Union. Lewis will manage and oversee the daily operations of APGFCU's two new Cecil County loan centers. He will lead a staff of six and report to the assistant vice president of loan centers/sales. The non-cash loan centers, called My Loan Center, will serve consumers' borrowing needs in Cecil and Harford counties and offer 24/7 ATMs. Available loans include mortgages, home equity loans and lines of credit, vehicle loans, credit cards, personal loans, and other consumer loans.
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,SUN STAFF | November 15, 1997
Warning that shoppers tend to drop their guard in the holiday frenzy, Maryland retailers and police yesterday launched a joint crime prevention campaign to boost safety at shopping centers and malls during the busy Christmas season.The Maryland Retailers Association plans to work with retailers and law enforcement officials to keep shoppers and stores from becoming easy prey, by offering consumer safety tips and adding more lighting, patrols and uniformed officers to retail centers.Incidents of crime, such as shoplifting, purse snatchings and auto break-ins and thefts, increase after Thanksgiving along with the traffic that retailers count on for a quarter or more of theirannual sales, said Tom Saquella, president of the retailers group.
NEWS
By Alison Knezevich, The Baltimore Sun | September 6, 2012
The company redeveloping the former Solo Cup site in Owings Mills has made overtures to the owners of the Owings Mills Mall about purchasing that property, its CEO said Thursday. Leaders of Greenberg Gibbons, which is preparing to tear down the old Solo Cup plant to build the Foundry Row retail center on Reisterstown Road, "are big believers in the Owings Mills market and would love to do Foundry Row and the mall," chairman and CEO Brian Gibbons said. "We've reached out" to the mall owners, said Gibbons, whose company is based in Owings Mills.
NEWS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | March 16, 2009
The fallout from the recession is apparent in empty storefronts at shopping centers and strip malls throughout the region as retailers shut their doors to cut costs amid a steep slowdown in consumer spending. The closings could have a wide impact on the local economy, hurting developers and retail brokers and leaving consumers with fewer shopping choices. Struggling shopping centers and malls, such as Owings Mills Mall, could face further hardships. Vacancies could hurt other businesses in retail centers that rely on a variety of shopping choices to attract customers.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | August 18, 1998
The Rouse Co. generated only slightly improved earnings of $46.4 million in the second quarter, despite solid gains from its shopping malls and office projects.The Columbia real estate company's 2.2 percent increase in its funds from operations -- a standard measure of financial health used by real estate investment trusts -- comes after four consecutive quarters in which Rouse improved on its previous earnings by 30 percent or more.Rouse officials attributed the earnings of 62 cents per share to a decrease in land sales in Columbia compared with sales in the second quarter of 1997, but it said the results were "on target."
NEWS
February 14, 1995
Baltimore City's neighborhood municipal markets play an important role in many older neighborhoods. They're more than places to shop for food. Many are focal points -- in the suburbs they'd say "anchors" -- for neighborhood retail centers. They are also the places where neighbors bump into each other and get a chance to chat, a modern version of the village green. As such they are worth preserving, and Mayor Kurt L. Schmoke has taken a welcome step in that direction.The markets have languished for many years under inept city management.
BUSINESS
By Kevin L. McQuaid and Kevin L. McQuaid,SUN STAFF | November 13, 1996
Despite only modest gains from its retail centers, the Rouse Co. yesterday reported strong third-quarter earnings of $34.5 million, continuing a record-setting pace for 1996.The 18 percent increase in earnings before depreciation and deferred taxes was largely the result of gains in office and mixed-use properties and land-development activities.The Columbia-based real estate company also benefited from its acquisition of the Howard Hughes Corp., and the quarter ended Sept. 30 was the first to reflect income from the $520 million purchase.
BUSINESS
By Timothy J. Mullaney and Timothy J. Mullaney,Sun Staff Writer | August 16, 1994
Better results at shopping malls pushed The Rouse Co.'s key earnings measure up 26 percent during the second quarter.Columbia-based Rouse said it earned $21.2 million during the quarter that ended June 30, excluding allowances for depreciation of its real estate assets and deferred taxes. The company earned $16.8 million by the same measure in the second quarter of 1993.Real estate companies typically rely on cash flow, or earnings before depreciation and taxes, rather than the net income measure used by other companies, because accounting rules for net income distort real estate results by requiring companies to write down the value of their assets.
NEWS
December 6, 1990
Thieves and shoplifters beware! The Maryland State Police have initiated "Operation Yuletide," a state-wide prevention program with local law enforcement agencies and retail merchants.Beginning on Thanksgiving Friday, special teams of troopers will be deployed to patrol shopping centers and malls. Their main goal is to reduce crime in the retail district.The special enforcement effort will feature foot patrols inside the retail centers, "ride-along" patrols with mall security in the parking lots, and undercover officers in search of shoplifters.
BUSINESS
By Steve Kilar, The Baltimore Sun | July 16, 2012
The groundbreaking for a Main Street-style shopping center on a 25-acre parcel just south of Brewers Hill is set for the middle of August, the developer said Monday. Preparatory work on below-grade utilities recently began at the Canton Crossing site, which used to be an oil terminal, said Neil Tucker, a real estate developer and broker with Chesapeake Real Estate Group LLC. The retail center, near the First Mariner Tower and Merritt Athletic Club, is slated to open in October 2013, Tucker said.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | August 4, 2011
Developers expect to present their concept for a shopping center at the Canton Crossing mixed-use development to a city design panel on Monday. Owners of the 31-acre site along Boston Street will present preliminary plans to the city's Urban Design and Architecture Review panel. The developers, a partnership of principals from Chesapeake Real Estate Group and Birchwood Capital Partners, are seeking a change in use for the property to allow construction of 375,000 square feet of retail space, anchored by a big-box retailer.
BUSINESS
By Edward Gunts, The Baltimore Sun | January 30, 2011
While many architectural and planning firms have seen a drop-off in design work as a result of the recession and the slow recovery, one Baltimore-based company has remained busy by finding work in other countries. Development Design Group has carved out a niche by designing retail centers, housing, arenas and large mixed-use communities for clients around the globe. This month, it announced that it has been hired to design China's largest shopping center, a 4 million-square-foot retail component of a project called the Tianjin City Culture Center Development.
BUSINESS
By Edward Gunts, The Baltimore Sun | January 3, 2011
A Baltimore-based architecture and planning firm announced Monday that it has been selected to design China's largest shopping center. Development Design Group Inc. said it won a contract to design the retail component of a mixed-used project called the Tianjin City Culture Center Development, planned for a site less than 50 miles outside Beijing's central business district. It didn't disclose financial terms of the contract. Development Design Group, or DDG, is responsible for designing a seven-story, 4 million-square-foot retail and entertainment center that will be the centerpiece of a 9 million-square-foot commercial and cultural district in Tianjin City, which has a population of 22 million.
NEWS
By Jessica Anderson, The Baltimore Sun | July 16, 2010
The lenders who backed a struggling downtown Towson mall launched foreclosure proceedings in Baltimore County Circuit Court this week. Capmark Finance Inc., the New York-based lender to Towson Commons LLC, disclosed in its court filing that the company holds two loans, one for $49 million and the other for $17 million on the property, owned by Western Development. Cushman Wakefield, a New York-based commercial real estate brokerage and consulting firm, confirmed last week that it has been hired by Capmark "to advise them on the disposition of both the note and the property," according to David Baird, a senior managing director for the brokerage firm's Maryland region.
NEWS
By Andrea K. Walker and Andrea K. Walker,andrea.walker@baltsun.com | March 16, 2009
The fallout from the recession is apparent in empty storefronts at shopping centers and strip malls throughout the region as retailers shut their doors to cut costs amid a steep slowdown in consumer spending. The closings could have a wide impact on the local economy, hurting developers and retail brokers and leaving consumers with fewer shopping choices. Struggling shopping centers and malls, such as Owings Mills Mall, could face further hardships. Vacancies could hurt other businesses in retail centers that rely on a variety of shopping choices to attract customers.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | February 10, 2002
When three major mall operators recently scooped up 35 of the nation's premier malls owned by Rodamco North America NV, observers said they were not likely to get such an opportunity again soon. Top-tier malls and portfolios of malls are not often for sale these days because many have already been sold. About 35 percent of the nation's 45,025 retail centers - including 1,182 enclosed malls - are owned by a handful of large companies, including Columbia-based Rouse Co. Despite heavy debt loads and weak retail sales in general, Rouse, Simon Property Group Inc. and Westfield America Trust jumped at the chance for Rodamco's malls.
BUSINESS
By Meredith Cohn and Meredith Cohn,SUN STAFF | July 30, 2002
Bolstered by a set of newly acquired shopping malls, funds from operations at the Rouse Co. were up $5.8 million to $73.7 million in the quarter that ended June 30, the company reported yesterday. Sale of stock to help pay for all or part of eight malls across the country, however, diluted the results on a per-share basis. FFO, a key gauge of performance for real estate investment trusts, was 78 cents a share, compared with the 90 cents a share that the Columbia-based REIT posted for the second quarter of 2001.
BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,Sun Reporter | February 16, 2008
The developer of Canton Crossing, a mixed-use waterfront community in East Baltimore, is planning a "Main Street"-style retail center that could include an upscale grocer or a big-box anchor such as Target. Developer Edwin F. Hale Sr. said yesterday that his development company, Hale Properties, has been in talks with potential anchor tenants for the retail portion of the nearly $1 billion development on 65 acres in Canton. The project would be the first major retail development for the community, now the site of a 17-story office tower that is headquarters for Hale's First Mariner Bank and where Hale has proposed building additional office, retail and residential projects.
BUSINESS
By Donna M. Owens and Donna M. Owens,Special to the Sun | November 25, 2007
Black Friday is over, but the holiday shopping season has just begun. For many people that means lots of car trips to the mall and the inevitable traffic hassles. But for Shalonda Long, it's all a walk in the park -- the parking lot, that is. As one of the residents of Greenwich Place at Town Center, a luxury townhouse and apartment complex in Owings Mills, Long lives just a stone's throw from the sprawling Owings Mills Mall. "The mall is so close, you can walk there in about five minutes," said Long, 31, who also manages the luxury property, which opened last fall.
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