Developer of Hunt Valley Towne Centre Buys Owings Mills Solo Cup Property

Just weeks away from the official closing of the factory in Owings Mills, the 52-acre property on which the facility sits was sold to local developers, The Baltimore Business Journal reported.

Greenberg Gibbons and Vanguard Equities acquired the manufacturing center on Reisterstown Road for an undisclosed sum, after signing a contract to purchase the plant in June.

Greenberg Gibbons previously developed Hunt Valley Towne Centre, Annapolis Towne Centre at Parole and the Village at Waugh Chapel, the Business Journal said.

If a similar development is established, it could combine with the development to transform Painters Mill Road, and the Owings Mills retail scene.

Baltimore County councilwoman Vicki Almond said in July that the successful development of each space was of great importance to the area, and was being monitored closely by her office.

Solo Cup plans to close its factory at the end of this month, after cutting or relocating more than 500 jobs. No more than 50 employees could be relocated, The Baltimore Sun reported.

Staff reduction started on June 30, when 101 employees were layed off.

When Solo Cup announced it would close its Owings Mills facility in June 2010, the company said the manufacturing plant would stay open until March 2012, according to The Daily Record.

But The Sun reported the company "proceeded faster than expected to consolidate some operations," leading to the earlier close date.