ANNE ARUNDEL CO., MD — It's official: Annapolis Mall has been sold as part of a $272 million acquisition.
The sale to California-based Macerich was disclosed Wednesday.
The deal for the 1.5-million-square-foot retail center breaks down to $260 million for the mall and an additional $12 million for the adjacent 13.1-acre vacant Sears parcel.
It does not include the Macy's anchor or the vacant JCPenney store.
“Annapolis is exactly the kind of acquisition we said we would pursue,” Macerich President and CEO Jackson Hsieh said in a release.
"This off-market transaction was completed with the prior ownership group who did an excellent job over the past two years starting a significant elevation and transformation of the center’s merchandising plan and tenant mix. We believe applying the resources of Macerich will replicate the success we’ve experienced at Crabtree and across our Go-Forward portfolio.”
The next steps of the deal will see Macerich lay out an investment plan for $40 million of leasing capital.
Macerich says its plans are expected to bring the mall's total occupancy rate to exceed 90%, with 353,000 square feet of committed tenants already in place.
The company said Dick's House of Sport is slated to open a 116,000-square-foot store in August, in addition to a host of new stores, such as:
The mall has already held openings for Urban Planet, DTLR, Talbots, and an upgraded Hollister in the first quarter of 2026.
The latest comes after the mall was previously sold by Unibail-Rodamco-Westfield to the Dallas-based real estate firm Centennial for $160 million.
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