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Marley Station Mall purchased by New York-based company

Marley Station Mall
Posted at 5:54 PM, Jun 15, 2022
and last updated 2022-06-15 17:54:15-04

GLEN BURNIE, Md.  — Glen Burnie's Marley Station Mall has been sold to a new owner, who's promising to pursue "an aggressive leasing strategy" at the 35-year-old shopping center.

The new ownership group includes Long Island, N.Y.-based Mason Asset Management and Namdar Realty group.

Igal Nassim, of Mason Asset Management, said in a statement:

We are looking forward to the future of Marley Station Mall. We are currently exploring a number of leasing options for current vacancies, and we look forward to further bolstering the available offering at the mall through an aggressive leasing strategy.

The mall had been owned by YAM Marley Station LLC, based in Arizona, according to online property records. It traded hands in 2021, 2016 and 2014. Although the bulk of the property was sold to YAM for about $10.5 million, the roughly 1-million-square-foot mall was assessed this year at more than $36.5 million.

Mason Asset oversees more than 100 shopping centers nationwide, including Country Club Mall in Cumberland, Allegany County.