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Laurel Mall Gets New Management Team

LAUREL, MD-Laurel Mall will soon have Crown American Realty Trust as its new manager. Owners of the mall sign a two-year contract with the Johnstown, PPA-based REIT, and the management changeover is to begin in December.

By Barbra Murray | Updated on November 01, 2001

LAUREL, MD-Laurel Mall–or Laurel Centre Mall as it was originally called when it opened in 1979–sits in an area with a current trade population of about 377,000, a number that is expected to increase to more than 400,000 in a year’s time. Crown will take over management of the mall in December, and expects the deal will prove to be a successful one. “It works well for us because it is within our region,” says Crown vice president of corporate communications and marketing Christine Menna. “We own malls in Frederick and Hagerstown, MD, so geographically it’s a good fit.” Crown’s portfolio of regional shopping malls amounts to about 16 million sf of leasable retail space in eight states.

The Laurel Mall deal represents the first third-party management contract in which Crown has been involved. “We had formed Crown America Ventures earlier this year [specifically] to go after third party contracts,” Menna explains.

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