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Realty company seeks to buy Owings Mills Mall

Wednesday - 9/19/2012, 11:54am  ET

OWINGS MILLS, Md. - A Pikesville-based realty company is seeking to buy the Owings Mills Mall and is interested in opening a discount supermarket at the site.

Carl Verstandig, president and CEO of America's Realty LLC, says he has made an offer to Kimco Realty for the site. Verstandig says he would demolish much of the mall, with the exception of JC Penney, Macy's and a nearby movie theater.

The Baltimore Sun ( http://tinyurl.com/9bzrcj5) reports that Kimco and General Growth Property had planned a $65 million revitalization of the mall. But after an upscale shopping center was proposed nearby, Kimco indicated that it might drop the plan because the market couldn't support so much retail.

Spokesmen for Kimco and General Growth did not return calls from the newspaper seeking comment.

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Information from: The Baltimore Sun, http://www.baltimoresun.com


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)