The super-regional East Coast shopping centre, Annapolis Mall, is changing hands for the second time in nearly two years.
Macerich has purchased Annapolis Mall, in addition to a 13.1-acre vacant Sears parcel adjacent to the enclosed mall, for $272M. Serving shoppers in the Baltimore and Washington D.C. metros, Annapolis Mall spans approximately 1.5 million square feet, with tenants that include Macy’s, AMC Theatres, Zara, Apple, The Cheesecake Factory, Urban Outfitters, Foot Locker, Hollister, American Eagle, Lululemon, Crate & Barrel and Maggiano’s.
The acquisition excludes the Macy’s anchor, which is not owned and a vacant JCPenney anchor store where a search for a new tenant is underway.
In 2024, Annapolis Mall was purchased by Centennial and Atlas Hill RE, which is headed by Sandeep Mathrani, the former CEO of GGP and vice chairman of Brookfield Properties. Following the acquisition, Macerich says it plans to implement a “strategic investment plan” at the property that includes investing approximately $40M of leasing capital in addition to significant capital invested over the past two years by the prior owners to begin the “transformation and repositioning” of the centre.
Upcoming tenants slated to open at Annapolis Mall include Dick’s House of Sport, which will open a 116,000sq ft store in August 2026, as well as Dave & Busters, Tesla, Uniqlo, Lululemon (expansion) and more. Several new inline tenants including Urban Planet, DTLR, Talbots, an upgraded Hollister and others have already opened at the centre in the first quarter of 2026.
“Annapolis is exactly the kind of acquisition we said we would pursue,” said Jackson Hsieh, President and CEO of Macerich. “It’s located within a strong trade area with limited competition, the property is undergoing a significant elevation and transformation of its merchandising plan and tenant mix, including a new Dick’s House of Sport store opening in the fall. This off-market transaction was completed with the prior ownership group who did an excellent job over the past two years starting a significant elevation and transformation of the centre’s merchandising plan and tenant mix.”
