Eastpoint Mall Sells For $30 MillionPosted: May 31, 2012
altimore County’s Eastpoint Mall sold Tuesday at auction for $30 million, despite state records showing an assessed value of $58.6 million. The winning bid belonged to LNR Property LLC of Miami Beach, Florida. Thor Equities LLC of New York had previously bought the mall for $112 million, nearly four times as much. It is unclear whether LNR Property plans to sell the mall again or keep it under their wing.
Eastpoint Mall was built in 1956 and underwent two renovations, once in 1991 and again in 2005. It is located at the intersection of Eastern Ave, North Point Blvd and I-695. It includes around 100 retail, restaurant and office tenants, with anchors including Burlington Coat Factory, DSW, Sears, Shoppers World and JCPenney.
For more information on Eastpoint Mall, visit their website here.