S
pinoso Real Estate Group has acquired White Marsh Mall from Brookfield Properties for $190 million, according to CoStar Group Inc. The firm confirmed that it was appointed receiver of the mall in January 2023 and has since added new leases with businesses like Brow Bar salon, Original Pancake House, and GNC.

    "We're excited about this opportunity," Spinoso officials stated. "We look forward to making a positive impact at the property and in the community through leasing, management, and marketing."

    White Marsh Mall is one of Baltimore's largest regional malls, built in 1981 with three anchor stores and 134 specialty shops. The mall has been a point of contention for nearby residents, who have complained about school overcrowding and traffic congestion.

    Baltimore County Councilman David Marks has introduced legislation to curb residential development near the mall due to these concerns. Spinoso Real Estate Group is a New York-based firm specializing in mall ownership and management, with 96 properties totaling 81 million square feet under its portfolio since 2010.

    A demographic report on Spinoso's website estimates that White Marsh Mall's customer base will decrease by 0.2% annually from 2022 to 2027.