Skip Ribbon Commands
Skip to main content

News release

Maryland

Jones Lang LaSalle to lease two former Boscov’s Stores in Maryland


ATLANTA, January 30, 2009 – Jones Lang LaSalle announced today that it will be the leasing agent for the Boscov’s department stores at Owings Mills (293,060 s.f) and Marley Station (274,050 s.f) in Maryland.  Greg Maloney, President and CEO of Jones Lang LaSalle Retail is currently the Receiver and has appointed Jones Lang LaSalle as manager of these properties and five other Boscov’s department stores across the Northeast totalling 1.7 million square feet of space. 
 
“The Owings Mills and Marley Station former Boscov’s stores are substantial spaces and ideally located in important community malls,” said John Bemis, director of leasing at Jones Lang LaSalle Retail.  “Not only do retailers have a unique opportunity to take up residence as an anchor tenant in these prime shopping malls, but the redevelopment possibilities are vast too. Department store space is flexible and can be used for a multitude of purposes.”
 
As the Receiver, Greg Maloney was appointed by the courts to work closely with lenders and borrowers to control and direct the use of assets until resolutions are achieved.  Although Receivership designations vary state by state, they share the same premise of appointing independent managers to assume fiduciary responsibility for the assets.  During the Receivership process, the Receiver chooses the most appropriate firm to manage, lease or sell the asset, and provides recommendations for the most profitable outcome of the asset. 
 
Notes to editors:
 
The seven Boscov’s stores in Receivership include:
 
• Boscov’s store:  Monroeville Mall, Monroeville, PA
 
• Boscov’s store :  South Hills Village, Upper St. Clair, PA
 
• Boscov’s store:  Marley Station, Glen Burnie, MD
 
• Boscov’s store:  White Marsh, Nottingham, MD
 
• Boscov’s store:  Owings Mills, Owings Mills, MD
 
• Boscov’s store:  Montgomery Mall, North Wales, PA
 
• Boscov’s store:  Oxford Valley Mall, Langhorne, PA
 
About Jones Lang LaSalle Retail
 
As a third-party service provider, Jones Lang LaSalle Retail manages the largest retail portfolio in the country. Our 55 million-square-foot portfolio consists of more than 120 regional malls, strip centers, power centers, lifestyle centers, ground-up development projects, mixed-use centers and transportation terminals across 29 states. Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to Forbes magazines "400 Best Big Companies" for three consecutive years, has a portfolio of 1.2 billion square feet of property under management worldwide, including more than 10,000 retail locations on four continents. Jones Lang LaSalle is the only global real estate services firm with a team of dedicated, full-time experts who deliver comprehensive and globally integrated services in Energy and Sustainability under one umbrella. We offer leading-edge, industry-unique technology, training and tools in energy and sustainability to maximize the benefits for our clients and the greater community. For more information on Jones Lang LaSalle Retail, visit www.jllretail.com
 
About Jones Lang LaSalle
 
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2007 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.2 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with $53 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.
 
200 East Randolph Drive Chicago Illinois 60601 │ 22 Hanover Square London W1A 2BN │ 9 Raffles Place #39–00 Republic Plaza Singapore 048619