News
ROSEDALE'S RETAIL RENAISSANCE
September 27, 2012
| Once anchored by the failed Golden Ring Mall, the Rosedale retail submarket along Pulaski Highway just outside the Baltimore Beltway has been revived, so much so that Vanguard has broken ground on an expansion of its Rossville Commons shopping center and is trying to acquire the site to the east. While we're reviving things, let's bring back Woolworth's. Or at least Roebuck—Sears can't do it alone! |
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| A Sam's Club, Walmart, and Home Depot anchor Petrie Ross Ventures' Centre at Golden Ring, where the dead mall once stood. Vanguard principals Len Weinberg and Brad Glaser tell us daytime traffic to the expanded Franklin Square Hospital also helps. But don't count on getting in on the game easily. Vanguard also owns the 50k SF Golden Ring Place (home to Best Buy and La-Z-Boy) and the 30k SF Golden Ring Commons (Aldi, Arby's, and another 11k SF), where a previous owner's plans for a mini-storage facility never materialized. The site Vanguard is trying to buy belongs to an estate, and that's pretty much it for developable parcels. Len and Brad say industrial and residential zoning prevents any further retail development. The area can't handle much more traffic anyhow, they say, and as co-developers with Greenberg Gibbons of Foundry Row, these two know a little something about traffic concerns. |
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| Vanguard, which turns 25 this year, started talks with Circuit City for a sale-leaseback for Rossville Commons five years ago. Then the retailer went bankrupt, and Vanguard started over with the lawyers, finally buying the place in 2010. It kept the 10k SF National Tire Warehouse, expanded West Marine's former space by 4,000 SF to make room for Planet Fitness, and put Ashley Furniture in Circuit City's space in January '11. A year-and-a-half later, there's enough demand to expand, and when Phase 2, leased to China Buffet and Phenix Salon Suites, delivers this fall, Rossville Commons will total 84k SF. |
