A Pittsburgh real estate company has purchased Allegany County's largest shopping mall for $32.4 million and is exploring options to expand the site.
J. J. Gumberg Properties' purchase of the Country Club Mall in LaVale marks the latest in a series of shopping center acquisitions by the company in Pennsylvania, Ohio and Maryland.
Country Club Mall is a 533,000-square-foot project anchored by department stores J. C. Penney, Sears and Kmart, and a six-screen AMC movie theater. The mall opened in 1981.
The mall, which occupies 64 acres and has an additional 100 acres available for development, is 78 percent leased.
Brad Kotz of KLNB Inc. represented the seller, Lend Lease Real Estate Investments, in the sale to J. J. Gumberg.
"People want to live and raise their families in communities like LaVale and the surrounding Cumberland Valley area," said Lawrence N. Gumberg, J. J. Gumberg's chief operating officer.
With the addition of Country Club Mall, J. J. Gumberg owns more than 12 million square feet of retail space.
Pub Date: 1/09/99