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Greenberg Gibbons sells majority stake in Annapolis Towne Centre

| September 12, 2018, 03:03 PM

Greenberg Gibbons announced that it sold its main interest in Annapolis Towne Centre to investment partner PGIM Real Estate.

Greenberg Gibbons continues to maintain full ownership of and manage three components within Annapolis Towne Centre: the retail parcel along Riva Road from Pei Wei to Zoe’s Kitchen; the retail parcel along West Street including Mission BBQ, Pier One and Einstein Bros. Bagels; and the new 30,000-square-foot building being constructed next to Whole Foods. Greenberg Gibbons will locate its second corporate office in this new building, which will also feature ground-floor retail.

PGIM Real Estate will engage a new firm to manage and lease the core elements of the mixed-use property.

Annapolis Towne Centre is one of the largest re-development projects in Anne Arundel County’s history. Greenberg Gibbons transformed the former dilapidated Parole Plaza site into the area’s premier mixed-use destination to live, work, shop and play.

Since the Towne Centre’s opening in 2008, Greenberg Gibbons brought new, first-class retailers and restaurants to the area, maintained industry-leading occupancy rates, and initiated a variety of beloved community events, including a free Friday night concert series on Towne Centre Boulevard.

“From our initial vision, to development, to engaging thousands of visitors every week, it has been an honor to serve and be part of the greater Annapolis community,” says Brian Gibbons, chairman and CEO  of Greenberg Gibbons. “By any measure, Annapolis Towne Centre has been a tremendous success and it will continue to thrive.”

Severn Bank

Category: Businesses, LIFE IN THE AREA, Local News, NEWS, Post To FB

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