Gallery Tower For Sale
One of Baltimore's most iconic retail and office properties is once again for sale. General Growth Properties has listed The Gallery shopping mall and 30-story office tower with Cushman & Wakefield, the Baltimore Business Journal reports. A General Growth spokesman told the BBJ that it won't have any comment on the listing until August.
Michael Kors, Gap and Banana Republic are among the retail tenants while office tenants include Lupin Pharmaceuticals and Cigna Health Care. Office rents range between $24 and $29/SF, according to CBRE. It's not the first time the Chicago developer has tried to unload The Gallery. The developer put the mall and Harborplace on the market in 2008 to pay down $900M in debt. It successfully sold Harborplace to New York's Ashkenazy Acquisition Corp in 2012. The waterfront mall helped transform Baltimore's Inner Harbor into a tourist destination. [BBJ]
