Developers of Solo Cup Announce Wegmans as Lead Anchor
New Project to be Named "Foundry Row at Owings Mills"
Owings Mills, Md. (November 14, 2011) — Greenberg Gibbons and Vanguard Equities are proposing a vibrant redevelopment for the vacant, 52-acre Solo Cup plant in Owings Mills, Md. The site would become "Foundry Row at Owings Mills," an upscale retail destination and community gathering place.
Premier supermarket chain Wegmans has executed a lease to become the anchor for the proposed project. The family-owned company is ranked #3 on FORTUNE Magazine's list of "100 Best Companies to Work For."
This will be the fourth Greenberg Gibbons center anchored by Wegmans. "We are excited to be part of another quality project with this premier local developer," said Ralph Uttaro, Senior Vice President of Real Estate and Development for Wegmans.
In addition to Wegmans, the development plan for Foundry Row includes 275,000 square feet of upscale retail space in an open-air center with shops, restaurants and outdoor gathering spaces for concerts and community events. It will incorporate industrial-style architecture using glass and metal, reflecting the site's manufacturing history.
"Foundry Row can be a great economic growth engine that will create thousands of new jobs and millions in tax revenues for our County and the State," said Baltimore County Executive Kevin Kamenetz. "Replacing the Solo Cup factory with this type of revitalization project would have a tremendous ripple effect on improving the whole Owings Mills area."
"I'm delighted that this project is being led by two local developers who really understand and have a strong commitment to working with the community," added Baltimore County Councilwoman Vicki Almond. "Foundry Row can become a wonderful new focal point for our area."
"Given that Wegmans only opens two or three stores a year, we are honored that they want to join Foundry Row," said Brian Gibbons, Chairman and CEO of Greenberg Gibbons, whose corporate headquarters is 1.4 miles away from the Solo Cup site. "We are also meeting with a variety of other highly sought after retailers who have expressed interest in this project."
About Greenberg Gibbons
Founded in 1968, Greenberg Gibbons is one of the Baltimore-Washington region's premier developers of mixed-use, town center and retail properties. The company's portfolio includes more than four million square feet of existing and new development. Its award-winning revitalization projects include Hunt Valley Towne Centre and Annapolis Towne Centre. For more information, go to: www.ggcommercial.com.
About Vanguard
Vanguard Equities, Inc. is a Baltimore-based real estate development firm founded in 1987 by its principals, Leonard Weinberg II and Bradley S. Glaser. Vanguard is actively involved in shopping center development, residential land development and all property management functions for its commercial portfolio. The firm has completed successful projects in Maryland, Virginia and Delaware for a variety of local and national tenants and clients. For more information, go to: www.vanguardequities.com.
For additional information, Contact: Gillian Pommerehn, mschiffer@ggcommercial.com or (410) 626-0805 or Karin Jorgensen, kjorgensen@crosbymarketing.com or (410) 626-0805
