Greenberg Gibbons Commercial Corp. has invested in the Shops at Kenilworth, a 142,000-square-foot mall in Towson that has had an out-of-town owner for the past 20 years.
Greenberg Gibbons CEO Brian J. Gibbons said his company plans to bring the strengths of local ownership to the mall, which has a number of well-known Baltimore tenants such as Atwater’s, South Moon Under and Cloud 9.
Although the company is well known for its strategy of revamping aging regional malls with either demolition or redevelopment, Gibbons said that’s not the planned approach for Kenilworth.
“We’re not going to redevelop it, but we’re going to make it more attractive,” Gibbons said. “I hope by next spring we’ll have a plan for refurbishment. We’re working internally on it right now.”
Gibbons declined to say how much of an ownership stake the company is taking in the property, but said it aims to eventually own Kenilworth outright. He called it a “great asset with a great location that needs some tender loving care.”
The mall has been owned for about 20 years by a Cincinnati company known as Towne Metropolitan, which once had four shopping centers in New Orleans and two in Maryland. Kenilworth is the last asset owned by the company, said company principal John Heekin, who first explored putting the mall on the market in 2000.
The mall has been “really successful,” even though it doesn’t have many nationally recognized tenants, Heekin said. He described it as “a place where people like to eat pizza, throw coins in the fountain and watch a movie on a Friday night.”
“Brian [Gibbons] gets that in this newer world of Amazon.com and drone deliveries,” Heekin said. “I’ve always been impressed with the stuff Brian does.”
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