Current logo for the center.
|Location||Glen Burnie, Maryland|
|Address||7900 Governor Ritchie Highway|
|Management||The Woodmont Company|
|No. of stores and services||100|
|No. of anchor tenants||4 (1 vacant)|
|Total retail floor area||1,069,000 square feet (99,300 m2)|
|No. of floors||2 (3 in Macy's and Boscov's/data center)|
|Parking||6 parking lots|
Marley Station Mall is an enclosed shopping mall in Glen Burnie, Maryland. Opened in 1987, it was expanded in 1993 and 1997. The mall includes J.C. Penney, Macy's , Golds Gym and Sears as its anchor stores. The mall has 4 anchors and 100 stores on 2 floors. In 2016 Marley Station was sold to G.L. Harris for $22.7 million.
Taubman Centers built Marley Station in 1987. At the time, it included two anchor stores: Hecht's and Macy's. Taubman expanded the mall in 1993 with a third anchor, J.C. Penney, which was the most-requested store among mall patrons at the time. Sears was added in 1996 as a fourth anchor. This store replaced an existing Sears in Glen Burnie which was built in the 1960s.
In 2006, Macy's relocated to the Hecht's building when Macy's parent company bought that of Hecht's and sold its original location to Boscov's. Boscov's operated out of the former Macy's for only two years, closing the store in 2008 as part of the chain's bankruptcy proceedings. It was reported in 2012 that a 300,000-square-foot data center would open in the former department store.
Taubman sold the mall to Mills Corporation, later part of Simon Property Group, in 2004. The Woodmont Company of Dallas/Fort Worth was appointed as the receiver to manage and lease Marley Station in March 2013 until Bank of America settles a loan dispute with Simon Property Group or forecloses.
In January 2012, AiNET purchased the largest single building at Marley Station mall, the former Boscov's space, to operate the CyberNAP data center. Unlike the rest of the mall, the AiNET space is three-stories. At capacity, AiNET expects $1 billion in economic activity and 2,500 jobs at CyberNAP.
In June 2013, AiNET (owner of CyberNAP) expressed an interest in buying all the properties to expand the data center throughout the mall. However, the mall's manager, The Woodmont Co., said there are no plans to sell or close down, but rather, "We are working to increase current occupancy by both retaining existing tenants as their leases renew and by leasing current vacancies."
The mall was listed on a real estate web site as being up for auction on September 25, 2013.
An eight-screen movie theatre, originally operated by United Artists Theatres, opened on June 5, 1987 near the mall's food court. The Movies at Marley Station were later run by Regal Entertainment Group, which had acquired UA. On February 20, 2014, the theater closed its doors after nearly 27 years of service without notice. Two months later mall management announced that the theatres would be renovated and reopened in summer 2014. On June 20 Horizon Cinemas opened four theaters—with four more to follow later—featuring all new 3-D digital projectors, a new lobby with digital signage and upgraded concessions, updated bathrooms and roomier seating.
Moody's rates the mall's debt. As of the 2015 report, the mall has near term rollover risk and is advising investors to expect 70% losses on their investment. As of the 2016 report, the mall is now 29% of the remaining fund and all classes of debt are rated as below investment grade or in default. The mall's occupancy is reported as under 75%.
During the same period, the mall was appraised for $39.8 million of the original $114.4M loan—in total there is now a $88.7M difference between the appraisal and the total amount due on the loan.
Aeropostale as part of its bankruptcy has announced it will close its store at Marley Station Mall in 2016.
In the most recent appraisal Feb 2016, the mall's appraised value dropped to $31.5M (-22.4%).
In an auction ended on October 19, 2016, Marley Station was sold by LNR Properties LLC to G.L. Harris for a price revealed after closing on December 20, 2016, to be $22.7 million. LNR Properties bought the property from TKL East in 2014. TKL East obtained it through foreclosure from original owner Simon Property Group. The mall's vacancy rate was reported in January 2017 to be just over 2%.
- "Leasing information" (PDF). Simon Property Group. Archived from the original (PDF) on October 11, 2012. Retrieved 1 January 2011.
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- "Substitute Trustees’ Sale: Regional Shopping Center (Except the Portion of the Property Described Below) Known as Marley Station Mall". Featured Auctions. Alex Cooper Real Estate / Alex Cooper Auctioneers. Retrieved 18 October 2013.
- Yoon, Kate (22 February 2014). "Marley Station mall's movie theater closes". Maryland Gazette. Annapolis, Maryland: Baltimore Sun Media Group. Retrieved 24 February 2014.
- Meehan, Sarah (April 15, 2014). "Marley Station Mall movie theater to reopen this summer under new operator". Baltimore Business Journal. American City Business Journals. Retrieved April 16, 2014.
- Yoon, Kate (April 15, 2014). "Marley Station movie theater reopening this summer". Maryland Gazette. Annapolis, Maryland: Baltimore Sun Media Group. Retrieved April 16, 2014.
- Bottalico, Brandi (23 June 2014). "Marley Station Movies reopens with upgrades and new name". Maryland Gazette. Annapolis, Maryland: Baltimore Sun Media Group. Retrieved 23 November 2014.
- Linger, Jake (8 July 2014). "Horizon Cinemas Opens At Marley Station Mall". Severna Park Voice. Severna Park, Maryland. Retrieved 23 November 2014.
- "Moody's Affirms 15 and Upgrades One Class of BACM 2005-3". Moody's. Moody's Investors Service, Inc. 26 February 2015. Retrieved 13 May 2015.
- "Moody's Affirms Eight and Downgrades Five Classes of BACM 2005-3". Moodys.com.
- "Marley Station Mall Near Baltimore Gets Appraised at $39.8Mln". Commercial RealEstate Direct.
- "2016 US Store Closings Maryland". About.com. About.com.
- Lehman, Roger. "CMBS Market Watch Weekly". CMBS Market Watch Weekly. Credit Suisse.
- "Marley Station auction". Ten X Auctions.
- Smith, Mark (December 1, 2014). "Marley Station: Building Back Up, Looking Ahead". The Business Monthly. Ellicott City, Maryland. Retrieved September 21, 2016.
- Davis, Phil (November 19, 2016). "Marley Station mall sold for around $21.5M". Maryland Gazette. Annapolis, Maryland: Baltimore Sun Media Group. Retrieved March 15, 2017.
- Mirabella, Lorraine (January 17, 2017). "Marley Station mall sold for $22.7 million". The Baltimore Sun. Retrieved March 15, 2017.
- Dead Mall Series
- Marley Station Mall web site
- Property Detail Information at The Woodmont Company web site