A Baltimore County real estate firm has completed and fully leased Eldersburg Commons, a Walmart-anchored shopping center in Carroll County built on the site of a former mall.
Black Oak Associates plans to host a grand opening next week for the $60 million, 290,000-square-foot redevelopment, which has 17 tenants, including the 190,000-square-foot Walmart Supercenter that opened last year.
The 6400 Ridge Road project is one of several conversions of former malls in the Baltimore region.
Enclosed malls, with common spaces that need heating, cleaning and security, are more expensive to operate, and as retailers face more online competition, it's gotten more difficult for them to absorb those costs, said Dixon Harvey, partner at Black Oak, which owned the mall, formerly known as Carrolltown Center, in the 1990s.
Black Oak repurchased the 1977 center in 2004, slowly winding it down with an eye toward redevelopment. Demolition and construction started in fall 2013.
New tenants expected to open over the next few months include Hair Cuttery, Luxury Nails & Spa, Menchie's Frozen Yogurt and Sunny's Fine Wines & Liquors.