Lakeforest Mall, also known as Lakeforest, is an enclosed shopping center located in Gaithersburg, Maryland. It is owned by Five Mile Capital Partners and managed by Urban Retail Properties. Its two levels house over 160 stores, a food court, and until 2013, formerly a large children's play area at the center.
Video Lakeforest Mall
History
1970s
Lakeforest Mall first opened September 12, 1978. At that time, the mall's anchor stores were JCPenney, Sears, Woodward & Lothrop, and Hecht's. The mall was one of the first in the United States to feature an indoor ice skating rink on the lower level, in the "H section". The rink has since been superseded first by a multi-theater movie complex, then by a food court, which now occupies the place.
2000s
Originally developed, owned and operated by Taubman Centers, the Simon Property Group owned and managed the mall from 2007, when it purchased former owner and manager Mills Corporation. The company defaulted on its mortgage in 2011 and the mall was put up for sale after.
2010s
In 2013, Five Mile Capital Partners hired real estate developer Hines to "map out a long-term plan for Lakeforest". The children's play area and nearby fountain were removed and tiled over that year.
On August 22, 2017, Gaithersburg's Lakeforest Mall was sold at auction for $19.1 million, a fraction of the price $100 million price tag from 2012. The auction came after the mall's owner, Five Mile Capital, went into foreclosure.
As of August 2017, the mall's general manager is Paul DeMarco.
Maps Lakeforest Mall
See also
- Westfield Montgomery
References
Further reading
- Opening Ceremony at Lakeforest Mall - September 12th, 1978
External links
- Official website
- Lakeforest Mall at the Wayback Machine (archived March 2, 2000)
- Lakeforest Mall at the Wayback Machine (archived March 31, 2001)
- Lakeforest Mall at the Wayback Machine (archived April 5, 2004)
- Lakeforest Mall at the Wayback Machine (archived May 26, 2007)
- Lakeforest Mall at the Wayback Machine (archived June 16, 2007)
- Lakeforest Mall at the Wayback Machine (archived December 31, 2013)
Source of the article : Wikipedia
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